What are the Benefits of a QROPS Pension Transfer?
If you qualify for a QROPS Pension Transfer, the benefits are numerous and include:
- No need to purchase an annuity, although you can if you want to.
- Ability to pass on your pension to your nominated beneficiaries.
- Greater investment flexibility, which means you can obtain greater growth. Instead of 3% you can now target 10%.
- If domiciled in a tax-friendly jurisdiction, you can ensure that your pension value grows tax-free.
- Your pension will not be impacted by the pension crisis.
- After 5 complete tax years (from 6 Apr to 5 Apr), you can have 100% control.