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QROPS new rules 2015

QROPS new rules 2015

Old May 29th 2015, 5:16 am
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Default Re: QROPS new rules 2015

Yes, I'm aware of this. But previously, after you had left the uk for five full uk tax years, you could have access to the funds without the 55% penalty being charged despite your age. For example, I'm age 46, but I've been away from the uk for five full tax years. I could have had access to my qrops rrsp if I chose to. Now, you have to wait until you are age 55, even if that means being from the uk for much longer than five full tax years. In other words they are bringing the qrops accessibility in line with uk residents.
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Old May 29th 2015, 5:49 am
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Default Re: QROPS new rules 2015

Originally Posted by gail1308 View Post
Yes, I'm aware of this. But previously, after you had left the uk for five full uk tax years, you could have access to the funds without the 55% penalty being charged despite your age. For example, I'm age 46, but I've been away from the uk for five full tax years. I could have had access to my qrops rrsp if I chose to. Now, you have to wait until you are age 55, even if that means being from the uk for much longer than five full tax years. In other words they are bringing the qrops accessibility in line with uk residents.
Is that for everyone or just more recent transferees?
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Old May 30th 2015, 12:18 am
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Default Re: QROPS new rules 2015

As far as I'm aware its for everyone. I'm still awaiting final clarification from Mark Walker of Sterling Advisory, who in turn is waiting for the uk to catch up with all their emails !!!!
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Old May 30th 2015, 8:17 am
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Default Re: QROPS new rules 2015

There's some useful info in this post: http://britishexpats.com/forum/uk-pe...2015-a-833960/
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Old Jan 22nd 2016, 1:21 am
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Default Re: QROPS new rules 2015

Has anyone had any experience with Charter Cross based in Dubai. They phoned me out of the blue to offer me a QROPS pension in Malta. Not sure whether to proceed.

Has anyone else used them?
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Old Jan 22nd 2016, 2:05 am
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Default Re: QROPS new rules 2015

Originally Posted by turner_pg View Post
Has anyone had any experience with Charter Cross based in Dubai. They phoned me out of the blue to offer me a QROPS pension in Malta. Not sure whether to proceed.

Has anyone else used them?
I had a call from them just before Xmas. Apparently they got my details by looking on LinkedIn to find people who used to work in the UK but now work in Canada.

I was going to talk to them but backed out at the last minute, something just didn't seem right.
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Old Jan 22nd 2016, 3:35 pm
  #22  
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Default Re: QROPS new rules 2015

Originally Posted by humanist View Post
I had a call from them just before Xmas. Apparently they got my details by looking on LinkedIn to find people who used to work in the UK but now work in Canada. I was going to talk to them but backed out at the last minute, something just didn't seem right.
I suppose the question you would need to ask yourself is how comfortable would you be dealing with a company that has cold called you in regards to your pension.
Bearing in mind you now live in Canada, have been cold called from a company based ( and presume regulated ) in Dubai .............that wants to move your pension to Malta !!!
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Old Jan 28th 2016, 8:15 am
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Default Re: QROPS new rules 2015

Originally Posted by mjwalker007 View Post
I suppose the question you would need to ask yourself is how comfortable would you be dealing with a company that has cold called you in regards to your pension.
Bearing in mind you now live in Canada, have been cold called from a company based ( and presume regulated ) in Dubai .............that wants to move your pension to Malta !!!
Dubai firms allowed to provide financial advice in Canada to residents in Canada? Regulated or not in Dubai, not regulated in Canada.
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Old Jan 28th 2016, 1:07 pm
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Default Re: QROPS new rules 2015

Originally Posted by turner_pg View Post
Has anyone had any experience with Charter Cross based in Dubai. They phoned me out of the blue to offer me a QROPS pension in Malta. Not sure whether to proceed.

Has anyone else used them?
I received a call from CharterCross this week. Very pleasant english bloke who was clearly following a script and wanted to tell me all about pension changes and implied that they were somehow affiliated with the UK Govt. I hung up 3 minutes into the spiel as I had better things to do with my time and I don't dfo business with any cold caller.
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Old Jan 28th 2016, 2:05 pm
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Default Re: QROPS new rules 2015

I was called yesterday by Carrick consulting, a south African based firm suggesting I do QROPS in gibralta. I listened and then said I wasn't intrested. This got me thinking.
I had previously not wanted to bring all the pension pot over, as have no idea where we will retire, but maybe a non-Canada based qrops is the way to go?
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Old Jan 28th 2016, 5:56 pm
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Default Re: QROPS new rules 2015

Originally Posted by Atlantic Xpat View Post
I received a call from CharterCross this week. Very pleasant english bloke who was clearly following a script and wanted to tell me all about pension changes and implied that they were somehow affiliated with the UK Govt. I hung up 3 minutes into the spiel as I had better things to do with my time and I don't dfo business with any cold caller.
I think it is very worrying any pension company that is telling you they are affiliated to the UK Govt.
There are many scams going around and that could be a tell tale sign of one.
As mentioned , everybody should do their due diligence before dealing with any company that has cold called them in regards to their pension.
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Old Jan 28th 2016, 6:37 pm
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Default Re: QROPS new rules 2015

How are they obtaining our details?

I was called a few weeks ago (can't remember by whom) stating that, if I had lived in the UK and had a pension there they would be able to assist me claim for something.

When I asked them how they obtained my details, they said that they acted for one of the pension providers. When I said that, if this was the case, they would already know if I had such a pension, they then gave a vague response and said that it appeared that, as I had matters under control, they wouldn't be able to assist me.

I am not listed in the phone directory, so I don't know if they are simply cold calling random numbers but that doesn't seem likely to me.
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Old Jan 28th 2016, 6:46 pm
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Default Re: QROPS new rules 2015

Originally Posted by Almost Canadian View Post
How are they obtaining our details?

I was called a few weeks ago (can't remember by whom) stating that, if I had lived in the UK and had a pension there they would be able to assist me claim for something.

When I asked them how they obtained my details, they said that they acted for one of the pension providers. When I said that, if this was the case, they would already know if I had such a pension, they then gave a vague response and said that it appeared that, as I had matters under control, they wouldn't be able to assist me.

I am not listed in the phone directory, so I don't know if they are simply cold calling random numbers but that doesn't seem likely to me.
I didn't get that far down the script but assumed that they "found" me by a combination of LinkedIn and Canada411.ca . (I have a unique surname). I can't see how they can legally get data from my pension providers and as I say didn't get into the detail of how they were working with the Govt. All felt too dodgy.
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