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Although they have advantages over other UK pensions they do not avoid tax duty on death, whereas there is no inheritance tax payable on QROPS pensions. QROPS are relatively new and are a result of a change in Government regulations relating to pensions. These regulations set down certain criteria permitting the transfer abroad of UK pensions provided certain requirements are met. QROPS schemes are growing in popularity as increasing numbers of people find out about their advantages. These include a wider range of investment opportunities than UK pensions as people with QROPS pensions are able to choose from investments available worldwide. If you are thinking of retiring abroad a QROPS adviser can give you details of the benefits of transferring your pension overseas. In another recent report by a Guernsey QROPS provider it was revealed that applications for QROPS pensions had increased in the last year from about 50 month to approximately 100 a month.
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