QROPS and The Spectrum IFA Group

QROPS more info

At Spectrum, before we advise a client to use QROPS as part of their financial planning we will carry out a detailed analysis of a client's pension position and make a direct comparison between their existing pension provision and a QROPS. Each client gets a written report allowing them to see the differences. If it is inappropriate to transfer we will tell you!!

Cost has previously been an issue but we have now sourced a low cost QROPS as follows:

• Set Up fee and first transfer 450 GBP plus VAT
• Fee per additional Pension transferred in 250 GBP plus VAT
• Annual Fee for pension not in payment 450 GBP plus VAT
  

Other fees may be applicable depending on how you use your pension. You will, of course, be given a full listing in writing before entering into the QROPS.

The Isle of Man has also been granted an improvement to its pension schemes. Known as the 50c pension scheme, this scheme allows for gross payment of pension to people living in other countries, for example, Spain.

Using QROPS requires careful and considered advice BEFORE you move your pension. It is also ESSENTIAL that you get on-going advice as your situation, the economic situation and pension rules will all change. The Spectrum IFA Group, as one of the largest independent financial advisers in Europe to English Speakers, will be there for you.

To review your pension planning please contact your financial adviser.