Spanish life properties

Avda. de las Naciones · Local Comercial 1A, Nº 30 Ciudad Quesada (Rojales) · Postcode: 03170


7 Jan


Do you need funds to buy a property in Spain?

Talk to us about QROPS

If you have a UK pension and now either reside outside the UK or plan to, you can transfer your pension into a QROPS – and access a host of benefits.

Put simply a QROPS is a Qualifying Recognised Overseas Pension Scheme which is recognised by HM revenue and customs (HMRC) and can accept a UK pension transfer.

The benefits of transferring your fund into a QROPS include increased tax efficiency, total investment freedom and large growth opportunities – to name just a few.

As your pension is probably your second most valuable asset after your home, these benefits really matter, and can dramatically improve your life in retirement.

The demand for QROPS has been a key factor in their development and refinement, and so far over 30,000 expats have transferred their UK pension into a QROPS since the schemes were launched in 2006.

Many people find they have a number of pension plans with different employers or private pension providers. They are often in outdated arrangements and by transferring them into one plan this enables you to consolidate your retirement plans under one roof.

So what are some of the other benefits that may help your future?

If you are single in a UK pension scheme - your pension will die when you do!!

A QROPS plan pays out the fund value at the time of your death 100%

If you are married in a UK pension scheme – only half the pension you are receiving will pass to your spouse but will end when they die!!

A QROPS plan pays out the fund value at the time of your death 100%

Will my children benefit from my UK pension scheme? Most UK pension funds do not provide any benefit for your children, as your pension dies with you!!

A QROPS plan pays out the fund value at the time of your death 100% this will go to your nominated beneficiary, spouse or children

This means it is easy to pass on your wealth to your loved ones it is usually easier, faster and less stressful for your family than with a UK pension.

There is another huge benefit to passing on your wealth from a QROPS – Avoid Inheritance Tax of up to 55% - currently UK pension funds being passed onto beneficiaries will incur an IHT charge of 55%, However this deduction does not apply to QROPS, where your funds can be passed onto your loved ones free from tax at source.

With a QROPS plan you may be able to access some of your pension fund which could be used to help purchase a property/ buy a car etc. here in Spain today.

It is essential you speak to an adviser who will be able to research what you currently have and provide you a personal report on how you can benefit from transferring into QROPS.

The meeting is free and with out any obligation so contact me today to find out for yourself.

Call Tony from Callaghan Heighway Pension Services on 0034 634 085 806

Maximise your UK pension using our professional unbiased advice