QROPS And Pension Freedoms
What it effectively means is that QROPS savers can access their pension from age 55. Depending on where you live and where your QROPS is based, this could mean that you could take your pension, partially or fully as a tax free cash lump sum.
Malta has already changed local pension legislation to be able to offer this as of April, The Isle of Man has decided to do the same with many other jurisdictions expected to follow offering the same pension freedoms as UK pension schemes.
Would the new pension freedoms for QROPS savers benefit you or would it result in an unnecessary tax bill? Proper planning and execution could in most cases result in less tax and lower fees payable. Contact us and you will receive a free assessment without any obligation or cost by qualified and regulated UK pension specialists, simply complete the contact for on our main page www.qropspensionservice.com