Reasons why
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
The Liberty QROPS is HMRC approved and open to residents of Guernsey and the majority of other countries in the world. Most forms of UK pension can be transferred to the Liberty QROPS, which is based in Guernsey, the Channel Islands, where non-residents are not subject to Income, Capital Gains, Inheritance, VAT or other taxes.
As a truly independent QROPS scheme, the Liberty QROPS is not tied to any investment providers or platforms, which gives you the freedom to select the most suitable and competitive investment strategies.
The Liberty QROPS allows you complete investment flexibility. Members have the freedom to choose investment managers or manage the investments themselves. If you would like us to introduce an investment manager we would be delighted to provide details and contacts for respected firms with extensive experience in managing money for overseas clients.
The Liberty QROPS allows you to invest in various asset classes such as cash accounts, fixed interest securities, stocks and shares, mutual funds, ETFs, offshore bonds and real estate. Certain assets may need to be held in a suitable ownership vehicle; however, the Liberty QROPS trustee can assist with this process.
Pension funds can be transferred into the Liberty QROPS in cash or in specie and held in almost any currency. Income payments can be taken from the Liberty QROPS either monthly, quarterly, six monthly or annually.
The Liberty QROPS has the flexibility to be transferred out to another jurisdiction, should this be necessary.
Open our Frequently Asked Questions PDF here >>
Liberty QROPS is HMRC approved.