# Qrops pensions



## spanishgal (Aug 21, 2014)

Anyone had any experience, good or bad with uk pension transferred to stm malta please??


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## VFR (Dec 23, 2009)

spanishgal said:


> Anyone had any experience, good or bad with uk pension transferred to stm malta please??


None, but its odds on that it will turn into tears (IMO)


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## marr (Apr 8, 2015)

I'm somewhat late to this discussion, but having used STM previously for some of my own clients, I see no issue with them - they fulfil their duties as pension trustees.

The more important issue is getting the right advice in relation to the underlying investments - that's on where the relative success of any QROPS decision will hinge.


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## Isobella (Oct 16, 2014)

Many people have lost all their pension pot through Qrops. Do extensive research, lots of scams around.


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## BrianAB (Sep 17, 2021)

spanishgal said:


> Anyone had any experience, good or bad with uk pension transferred to stm malta please??


The tax rate has changed being higher then the norm. However under advice and at a cost transferred it to Gibralter having a 2% tax levy. However you try to get any drawdown or a cash return. Total lack of assistance or information. The whole thing goes into a black hole and denial. I have chased UK Obudsman and now requesting the Gibraltar Finance commission to investigate. If your UK citizen leave your money in an international pension account. Your we thank me


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## MataMata (Nov 30, 2008)

Isobella said:


> Many people have lost all their pension pot through Qrops.


I presume you have independent verifiable evidence to support that claim?


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## MataMata (Nov 30, 2008)

BrianAB said:


> The tax rate has changed being higher then the norm.


What tax rate, what 'norm'?

I have a QROPS in Malta which I transferred from IoM where flexible drawdown was not available, or at least not without switching to an alternative IoM scheme which would have cost me 20% of the fund value!

I pay no tax in Malta whatsoever, tax only becomes due if I draw down on the fund when it's declared in Spain as earned income along with my other pension incomes.


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## Isobella (Oct 16, 2014)

MataMata said:


> I presume you have independent verifiable evidence to support that claim?


Enough to entertain you on google for a couple of days. Some positive ones too, usually traced back to those flogging them


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## MataMata (Nov 30, 2008)

Pray tell when when Google became independent verifiable evidence of anything?

If that's the best you have then I guess the answer to my question is 'no'.


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## Isobella (Oct 16, 2014)

That’s ok I really don’t care what you think. My answer is stay clear of them, suit yourself.


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