Learn All About Qualifying Recognised Overseas Pension Scheme or QROPS
If you are a United Kingdom citizen living abroad you may qualify for a financial scheme that has been approved by the UK government that will allow you to transfer all of your pension funds to the country where you live. This scheme is called Qualifying recognised overseas pension scheme or in short qrops. There are different requirements to qualify for QROPS. The most important one is that you must have been a resident of the UK for at least 5 years. In addition you will be allowed to transfer certain benefits according to a government dictated schedule. It is best to organize all of your QROPS transfers with the help or consult of a professional, as they will be more familiar with the most effective ways to approach any decision of drawing any benefits from your scheme. In addition consider looking into other laws on UK pension funds to make sure there are no additional issues to take care for.
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