The Liberty QROPS is a competitive and flexible offshore pension arrangement that enables UK expatriates and individuals who are about to leave the UK, to transfer their accrued pension benefits from UK pension schemes and make future tax savings.
The Liberty QROPS is tailored and flexible so it will meet your needs and personal circumstances in a cost-effective manner. The main advantages are:
- the ability to pass pension assets to future generations without punitive UK tax charges (currently up to a maximum 82% of the residual pension fund on death after age 75);
- flexible and wide investment choices* in multiple currencies, including: residential property, scheme loans, self-investment options (for those who are suitably qualified);
- the opportunity to take up to 25% tax-free cash on retirement;
- greater tax efficiency on draw down;
- flexible benefit options, with no requirement to purchase an annuity or alternatively secured pension (ASP);
- no liability to UK tax* on income from the Liberty QROPS;
- consolidation of UK pensions and/or post 'A' Day offshore pensions;
- after transfer, a member of the Liberty QROPS is no longer subject to the Lifetime Allowance Charge;
- no limits on contributions to the fund, nor fund size;
- open to all nationalities;
- transparent fee structure.
* the investment choices may be restricted and tax may be charged where you have been resident in the UK for tax purposes during the last 5 complete tax years
Liberty QROPS is HMRC approved.