QROPS France
Many thousands of UK citizens move to France permanently every year with many more planning on joining them. It is estimated that there are currently around 200,000 British expatriates living in France with the majority opting for the warmer climate of the southern regions of the country.
Along with all the necessary steps that one must take to move permanently to another country, your UK pension is something that is worth a considerable amount of thought and planning, especially now that the option has arisen to allow UK expatriates to transfer their UK pension into a QROPS fund and allowing them to gain from the many benefits that come with having your pension transferred into a QROPS.
There are many types of pension that can be transferred which include personal and occupational pension schemes and pensions that are in draw down (even if currently in payment) and protected pension rights can also be transferred.
However, you are not able to transfer a basic state pension, or if you have already purchased an annuity. This also applies to most Final Salary Schemes if you have already begun taking benefits.
Another reason why it is such a great option to transfer your UK pension into a QROPS is that UK pension schemes are not very flexible at all and there are many restrictions on when and how you draw down your benefits, the majority of expat pensioners in France are also forced to buy an annuity at age 75. This then means that you cannot leave any balance of your remaining pension fund to your heirs on death, whereas with your pension transferred into a QROPS this is something which becomes a possibility and is just one of the many benefits which makes relocating your pension into a QROPS something really worth considering.
For further information on QROPS transfers and for a qualified QROPS adviser to contact you, simply fill in your details in the contact a QROPS adviser page to receive free QROPS advice.
