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July 2014
From The Director

Greetings,

This month we direct our attention to British citizens and anyone who has ever lived or worked in the UK. If you hope to make the most of your pension benefits, there are five letters you need to know: QROPS. It stands for the Qualified Recognised Overseas Pension Scheme and it holds the key to easing the burden of UK pension taxes. Read on for more details.

However, if QROPS does not pertain to you, we certainly have a plan that does. Please feel free to contact your financial advisor at any time. If you do not currently have an advisor at Select, please reply to this email and one of our senior consultants will contact you promptly.


Best Regards,

Imants Katlaps
Managing Director
Article

HOW TO TAKE ADVANTAGE OF QROPS

How To Beat the High Taxes on British Pension Plans

You enjoy living in Japan. Why not? There’s a lot to like. Why, you might even consider retiring in Japan. If you’re a British citizen, there are certain pension advantages for retiring abroad and living abroad. Even if you are not a UK citizen, but have worked there enough to qualify for pension benefits, you should know about the latest options. Of particular importance to the globally minded is the Qualified Recognised Overseas Pension Scheme (QROPS).

What’s a QROPS? Officially, it’s an overseas pension plan that meets certain requirements set by HM Revenue & Customs (HMRC), the UK’s tax authority. Unofficially, it’s a way to escape the burden of UK pension taxes. The QROPS program was launched 2006 as a part of new legislation designed to simplify pension plans...
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