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...you can learn Spanish at a variety of locations across Spain, online or residential and day courses in Spain?
Regardless of your standard, and whatever level you wish to reach Don Quijote has a program to suit your needs!
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New Zealand QROPS - some of our FAQ's
For non UK residents who have lived outside the UK for five complete tax years or more there may be the possibility to release capital from your UK pension fund via a New Zealand QROPS. In certain circumstances this may even be possible before the age of 55 (as from 6 April 2010).
However, as each case is different it is vital to take specialised advice on QROPS from regulated and authorised experts with a background in UK pensions.
Listed below are just a few of our most frequently asked questions :
What UK pension funds may be transferred into a QROPS?
: Final Salary Company Schemes (often called Defined Benefit Schemes)
: Defined Contribution Company Schemes (often called Money Purchase Schemes)
: Public Sector Service Schemes (e.g. Doctors, Nurses, Police, Armed Forces, Teachers, Local Government and Civil Service)
: Personal Pensions including Stakeholder and Group Personal Pension Schemes
: Contracted out of SERPS (Protected rights)
: Retirement Annuity Contracts (RAC) and s32 buy outs
: Funds where income is in drawdown but an annuity has not been taken
What UK pension funds may not be transferred to a QROPS?
: State pensions
: Funds where a pension has been taken as an annuity
Do New Zealand QROPS fall within HMRC rules?
: Yes. The Government Actuary for New Zealand (David Bension) has had written confirmation from HMRC that both Kiwi Saver and Superannuation Schemes meet the conditions to become a QROPS. The GA sent a letter to all New Zealand Providers just before Christmas 2009 confirming this to be the case.
Is a transfer to a New Zealand QROPS always appropriate? And is a transfer to a QROPS always appropriate?
The answer to both questions is no, not always :
: Withdrawal of cash may not be the best solution or overriding reason to transfer to a QROPS
: Older pension plans may have guaranteed annuity rates that were set when interest rates were much higher than today, meaning the best advice is to stay put
: It is important to take advice from independent and regulated experts as each case is different
Why not contact us today for your free, no obligation review of your UK pension ? - Simply click on our logo (above) to be directed to our page.
More Blogs By Robert Burns BA (Hons), FCCA , Cert PFS
- QROPS – All Change From April 2012
- QROPS : Stop press - major changes on their way!
- Do you have a UK pension fund? How secure is it?
- Quantitative Easing - good or bad (or both) for your UK Pension Fund?
- Did Your Pension Fund Fall By 15 Percent in August ?
- New Zealand QROPS : Only Available For A Further 12 Months ?
- QROPS Jurisdictions in Focus : New Zealand
- QROPS Jurisdiction in Focus : Guernsey
- QROPS - the realities of giving and receiving advice
- QROPs - Choice of adviser and choice of jurisdiction
- State Subsidised Holidays For Pensioners
- Taxes associated with Buying & Selling Property
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- Claiming Unemployment Benefits in Spain
- The Catastral : The Tax Value of a Property in Spain
- What is the IBI Tax and How is it Calculated ?
- Should I Take Out Life Insurance ?
Blogs From Premier Pension Solutions SL
- QROPS – HMRC Introduces changes that create havoc in the market place
- The Economy : What can we look forward to in 2012 ?
- Beyond the tipping point - where next ?
- New Zealand QROPS - good news for all concerned
- Pensions and Politicians
- Changes re New Zealand QROPS - Things are becoming clearer
- QROPS Jurisdictions in Focus : A Round-Up
- QROPS Jurisdiction in Focus : Isle of Man
- QROPS for the UK Expat in Spain
- Could this happen to your UK pension fund?
- Maximising the outcome from your UK Pension fund
- UK Moves Towards Pension Flexibility - But QROPS Still The Expat Choice
- HM Treasury Propose Early Access To UK Pension Savings
- A Hidden Gem In The World Of Pensions
- QROPS - New Zealand in focus.