QROPS Myth #6: You need to keep a large proportion in cash

Any investment portfolio should always contain a small proportion of cash but by small we mean around 2-3%. If your pension has a cash account of somewhere around 10% then you might want to question whether this money really exists. Consider it this way, pensions are seen as ‘captive money’ until you reach the age […]

QROPS Myth #5: QROPS are ‘approved by HMRC’

HMRC do not approve anything! It is not their function. Their purpose, as stated on the website https://www.gov.uk/government/organisations/hm-revenue-customs is: “We are the UK’s tax, payments and customs authority, and we have a vital purpose: we collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. We […]

QROPS Myth #4: You’ll be able to access your pension sooner if you transfer it

This is not such a common myth nowadays but in the early days of QROPS there were many advisors going around the world ‘pension busting’ and either helping people to access their pension sooner by either transferring to a jurisdiction that allowed access from a younger age or by allowing the client to take out […]

QROPS Myth #3: Your UK scheme is going to go bust

It’s true that there have been many high profile defined benefit pensions that have gone bust in recent years. The fundamental principle of the way that defined benefit pensions are structured can indeed sound like a risk. A defined benefit pension will promise to pay you a salary in your retirement as a fraction of […]

QROPS Myth #2: You need an insurance bond

When it comes to QROPS there are a few ways of administering the investments – although most people are only ever presented with one option. As the QROPS trustees are not set up to provide this service (they merely provide the legal structure and fulfil normal trustee duties) you will need some kind of investment […]

QROPS Myth #1: Your pension is at risk if you leave it in the UK

What risks? Brexit? Tax? Schemes going bust? What risks have you been told about? The only risk is believing someone who is giving you advice that is biased in their favour. If someone is going to profit from helping you to transfer your pension overseas then you need to really question whether the advice is […]

Have You Left, or Are You Leaving, the UK With £1,000,000 in Pensions?

Many professionals – both British and other nationalities – leave the UK to continue their careers abroad with pension savings which could create an extra tax for them in retirement. As companies react to fears around Brexit, many professionals are being relocated to other major financial centres across Europe. With all the usual problems associated […]

How Much Do I Need to Save for Retirement?

Have you given thought to what the sunset years of your life will look like? If your dream is have the freedom to travel and have fun then you might need to take a good hard look at your financial situation today.   It all starts by asking yourself a few simple questions…   What […]

How to Teach your Children about Money

Unfortunately, schools do not really do enough to teach kids about money – at least they didn’t when I was growing up! Every parent has their own way dealing with the subject of money with their children and these are just a few tips that you could consider. Start by talking it! Unfortunately many people […]

Questions to Ask a Financial Advisor

This article delves into questions you should be asking your financial advisor. Whether you’re about to start speaking to an advisor or you are already working with one, it is absolutely imperative that they can provide satisfactory answers to these questions. We’ve explained why these questions are so important and then provided our own answers. […]