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QROPS Benefits

There can be huge benefits for expatriates who transfer their UK pensions to a QROPS. However as a QROPS transfer may not be suitable for everyone, you should speak to one of our specialist advisers to discuss your individual needs.


A QROPS is a Qualifying Recognised Overseas Pension Scheme that is recognised by and has met the criteria as set by Her Majesty’s Revenue & Customs (HMRC). Any QROPS can, therefore, in principle accept a transfer from a UK registered pension scheme.

As of 6 April 2012 HMRC introduced new rules regarding the recognition of QROPS jurisdictions and reporting. Holborn Assets have reviewed these new rules with our legal representatives and in-house QROPS / experts and are entirely satisfied we can continue to provide QROPS to expatriates.

QROPS Benefits

  • No liability to UK tax on Pension Income.
  • No liability to SA tax on Pension Income as foreign pensions accumulated as a result of overseas employment, is exempt from tax in SA – section 10(1)(gC) of the Income Tax Act.
  • No requirement to purchase an Annuity or Alternatively Secured Pension.
  • Ability to leave remaining fund to heirs – no IHT liability.
  • Payment possible in local currency – no exchange rate risk.
  • Investment freedom.
  • No lifetime allowance charge.
  • Ability to take pension from age 50.
  • Ability to take larger lump sum from fund (30% versus 25%).

Are there any risks?

Transferring to a QROPS may result in the loss of certain protected rights, including contracted out rights, or guaranteed rights accrued under a defined benefit scheme.

It is essential that you seek advice from a qualified Holborn Assets adviser. You can talk to one of our advisers without obligation.

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