Palomar59

Hi there everyone, back on here after a few years! Wondered if anyone on here has had any dealings with these QROPS pension fund holders, I wondered who were the biggest and best regarded companies in this field?

nun

If you are a US citizen or tax resident avoid QROPS.......so no QROPS company is "well regarded" for a US taxpayer.

Owen778

If you have been cold called by a company offering QROPS or to "help you move your UK-based pension", run a mile. There is a company who do this, whose litigious nature means that if you post their name on here it's automatically blanked out.

tom169

Check up QROPS on Wikipedia if you want to see information on why this is bad for a US tax resident.

Cook_County

There are no ROPS left in the States. HMRC has (at last) removed all of them from their list. The letter Q is no longer used.

Palomar59

Hmmm, theres a list of companies listed by HMRC on their site? Owen 778, can you PM me the name of the company, theres not a lot of info online about QROPS, except from the people that offer them, I can't seem to get any help from anyone in the UK, because I am not a resident anymore, my Pension company can't give me any info, and I can't seem to find anyone here that will deal with my British private pension, I am in no hurry, I don't need it, just trying to find out what options there are!!

https://www.gov.uk/government/public...ications#malta

robin1234

There's been a big change in QROPS in the UK budget. A new 25% charge on transfers. Budget 2017: HMRC introduces 25% tax charge on Qrops transfers - Citywire

nun

Given the new ROPS rules and the fact that there are none in the US you should forget about them. Even before the rules changes Maltese or any ROPS were toxic for US citizens and residents. The crack down on ROPS is a good thing IMHO as they were expensive and a great way to separate the gullible from their money.

Palomar59

But now I don't seem to be able to get any help from my pension company or any independent financial advisers from the UK, because I'm away from the UK?

mrken30

Especially true because there us a US/UK tax treaty dealing with pensions.

robin1234

What exactly do you mean by not getting any help from your pension company? Regardless of where in the world you live, they should respond to your legitimate needs & questions. You mean they're ignoring your emails or letters? Or what?

Palomar59

Zurich Life nonetheless, I just called them again and they cannot give advice to overseas customers, you have to go thru an IFA according to them?

MidAtlantic

What is it that you are wanting to achieve? There are plenty of people here with experience if you have specific questions.

mrken30

If you want financial advice, they are correct they are not regulated to give advice to US residents.

Palomar59

What about SIPPS, are they any safer, does anyone know?