Faced with growing numbers of “pension liberators” duping people into transferring their pensions into fake “QROPS”, HMRC has been given new powers to crack down on the fraudsters in the March 2014 Budget.
Fiscal year 2014/15 will see a drop in the pension tax-free lifetime allowance limit from £1.5m to £1.25m. Wealthy expats are already rushing to investigate QROPS as a result. Is this extra tax squeeze justified, or a pointless and fruitless exercise?
Ross Naylor spells out the facts about National Insurance Contributions for British expats who are concerned about qualifying for a State Pension.
Important information about QROPS legislation with particular relevance to New Zealand
Confused by QROPS? Here’s an explanation of what the Qualifying Recognised Overseas Pension Scheme is all about, courtesy of expatpensions.info.
Concerned at the erosion of your UK state pension? Here’s a collection of useful contacts and websites to help you fight for your rights.