Pension Transfers
Retirement | 18 Apr 17
Nine countries dropped as Qrops list culled by 30%
Nine countries were dropped and one added when HM Revenue & Customs updated its list of qualifying recognised overseas pension schemes (Qrops) on Tuesday after it was temporarily suspended following drastic changes to overseas pension transfers.
Triggering of Article 50 a fresh blow for Qrops
The UK government’s move on Wednesday to kick start the official two-year process for leaving the European Union is likely to be a further blow to a Qrops industry still reeling from the shock 25% charge imposed earlier this month.
Retirement | 23 Mar 17
More firms in the FCA firing line after Holborn sanctions
Several more firms are at risk of being sanctioned by the Financial Conduct Authority (FCA) as the regulator steps up action against international IFA firms specialising in overseas pension transfers, says Tim Searle, chairman of Dubai-based advisory firm Globaleye.
Middle East | 21 Mar 17
Holborn Assets ordered to immediately cease pension transfers
The UK Financial Conduct Authority has ordered Holborn Assets Ltd to immediately cease all pension transfer business, particularly that introduced by overseas advisers.
Tax & Regulation | 8 Mar 17
Surprise 25% Qrops charge rocks UK pension transfer market
The UK government’s shock decision to impose a 25% charge on transfers to foreign pension schemes announced in the Spring Budget could go as far as to “shut down” the Qrops market, according to industry observers.