julesnye

I've a number of UK pensions all relatively small and need to transfer before July.
Can anyone recommend any QROP providers , as I can only find Perpetual when googling?

Cheers

Genesis

I would not recommend Brittania out of Auckland, really unimpressed with their service. Not cheap either.

simonsi

I used Windsor Pensions to consolidate and move, bear in mind you might not have to move it to NZ, mine went to Germany in a QROPS-recognised scheme.

Clappy

HMRC keep an updated list of all recognised QROPS.

That list can be found from this link:
http://www.hmrc.gov.uk/pensionschemes/qrops.pdf

EDIT: I am not going to recommend any particular company because that sort of thing can bite you on the arse later, so go through the list and check out the firms that offer the service to find one that you are happy with.

julesnye

what was the reason it went to Germany and not NZ?
Do you still get the chance to take out 25-30% when you reach 55?

julesnye

Thanks for the heads up Genesis

julesnye

cheers Clappy I'll take a look

BEVS

Hi.

We brought our pensions over using Jeremy Henderson down in Christchurch. The funds were placed with Perpetual per QROPS.
Given we had several small pensions it was good to have them consolidated into one area. We're getting to an age where affording both our retirements is coming to the forefront .
We profiled as extremely conservative ref. risk.

That hasn't stopped some of our funds being frozen ( untouchable) within a year of being placed.

Perpetual are good at communication if somewhat paper heavy. There always seems to be something to sign and you have to try to understand far more about the placing of the funds.

Personally, I would prefer to sink these small funds into a flat.

simonsi

At the time Germany had more flexible rules, not sure if they still do.

richardbkk

Hi Jules,

There are a number out there. You can see from HMRC's site.

www.hmrc.gov.uk/pensionschemes/qrops.pdf

Brooklands is probably the best of the bunch or Endeavour. Normally the trusts won't be able to set up directly, you need to go through an advisor. QROPS Specialists helped us out before.

Good luck,

Richard

hinmers

I've been looking into alot of them lately, as i'm planning to head on down. I found it best working with those in europe - it doesn't have to be in New Zealand. I was introduced to a company called Finsbury International - they typically look after sports professionals appear more open and transparent than the rest. Let me know if you come across any others. I'm not in such a rush, but i've been trawling around since before xmas.

BEVS

Question:

Can you move from one to another ?

simonsi

AFAIK - but there will be transfer fees/costs whenever you do so I expect "QROPS-hopping" won't take off.

hinmers

I've looked at the whole list. But you need advisors to drill down. So i spoke to a number of advisors in UK, Malta, Germany, Switzerland, Channel Islands, New Zealand. I have a quite a few friends that were caught out putting money into QRUPS and the withdrawing funds by the advisors, which led to a big capital gains hit. So its best to find somebody who can offer it (ouside the UK - anywhere, not just New Zealand), but make sure they have FSA accreditation as well.

hinmers

Correct you can move from on QROPS to another but need to be careful of transfer fees, A QROPS is just like a UK pension but with greater advantages.

The best way to find out is by seeking advice from a regulated independent financial services company