Qrops Problems, Qrops Advice, Qrops Help.

Qrops Problems, Qrops Advice, Qrops Help.

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We have seen QROPS hit the headlines for the wrong reasons over the last few months. Many QROPS clients are facing grave problems regarding transfers being abused to produce 100% cash transfers. The last month has seen things worsen with Singapore being struck off the HMRC listing. We also have Gibraltar suspended. With another ten jurisdictions also facing problems.

QROPS is not the problem. QROPS is an ideal solution given the right circumstances. However you need to be able to see the woods from the trees. Anyone who is in a position to take advantage of QROPS should take advice on the matter. Unfortunately here is where the problem lies, as there are too many so called QROPS specialists, advisers out there, who in fact are not qualified or knowledgeable to give the correct advice to a client.

The process to transfer a UK pension to a QROPS is very simple, as is the paperwork. But the knowledge required understanding the implications and the benefits, to be attained, compared to the benefits being given up, takes years of experience. Hands on case work is the only way to do this, as no two transfers will be the same. Do not be tempted to undertake the transfer yourself. I have seen firsthand the problems and financial losses that this can create. People come to me to assist in resolving problems they have encountered. My stance on any transfer is first to help a client understand what they already have. Once you understand this you can begin to ascertain as to whether any improvements can indeed be made. Once this is established the solution can be formulated.

If you have undertaken a QROPS and have discovered that you now have problems. Seek advice as a matter of urgency. A reputable independent IFA should be able to assist. If you have undertaken a transfer and would like to have this assessed to ensure that it meets with your requirements, this also can be undertaken by a reputable independent IFA. As the QROPS transfer market has opened up over the last year, this has lead to a reduction in costs. The result of this is there is now a secondary QROPS market being established which specialises in QROPS to QROPS transfers. In the past transfers have been undertaken on less favourable terms than are on offer today. The greater choice and lower charging structures now available, allow people the opportunity to improve the potential returns on their investment.

QROPS can for a great number of expats be the beginning of a very comfortable future in retirement. Producing far greater returns and benefits afforded by their UK pension schemes.

But be aware, not all QROPS are created equal!

About the Author:
Investment Portfolio Manager and Wealth Management Consultant Geneva.
Chartered Insurance Institute qualified, with over twenty years experience in pension transfers.

Visit www.pension-transfers-qrops.com/services.html!



Visit www.pension-transfers-qrops.com!



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