UKC

/ A Pension EXPERT'S question

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Minneconjou Sioux on 11 Jul 2018

 

So, probably not one for the armchair enthusiasts

I live in Canada and up until last year I was able to transfer my private UK pension to Canada on a tax deferred basis under the QROP rules (Qualified Registered Overseas Pension) . I didn't do this at the time as I was waiting for a better exchange rate. 

I can't now do this as the UK has just removed Canada from the QROP's eligibility. Does anyone know why and does anyone know if there is a workaround or if anything is being done to rectify this?

No one on this end knows the answer.

P.S. I'm just off to watch a football match so maybe won't get back to anyone for a bit.

Post edited at 18:11
Minneconjou Sioux on 11 Jul 2018
In reply to Minneconjou Sioux:

Got the answer now...…...thanks

Toerag - on 12 Jul 2018
In reply to Minneconjou Sioux:

Glad we could help

Or more seriously, would it be advantageous to host your pension 'offshore'?  I know there was an industry based around that here in Guernsey until QROPs rules changed. Might be worth speaking to someone like Concept Trustees.

Minneconjou Sioux on 12 Jul 2018
In reply to Toerag:

Thanks. I had looked at the Isle of Man but prefer it all to be in one place,


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