# Qrops



## scotswahae

Does anyone who is resident in Germany have experience of moving a UK SIPP into a QROPS scheme?
I am a Brit who has been living in Germany for 17 years and have now reached retirement age. 
Does anyone know of a low cost reliable provider that can set this up for me?


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## James3214

I was approached about moving my small UK pension but I understand that it's not really worth it unless it is over 50k. I was dealing with an agent who was keen to do it but then never heard anymore. Commission was probably not enough!

Try one of our sponsors 
QROPS - Forth Capital


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## scotswahae

Thanks James,

I have sent off an email to Forth so I shall wait and see what develops.
I think you are correct about it all being commission driven but that is the financial services industry for you.


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## James3214

A quick search on the forum for QROPS has revealed quite a few threads discussing it. Like this one on the French forum:
http://www.expatforum.com/expats/fr...rops-schemes-unlocking-uk-pension-advice.html

Hope you get the advice you are looking for.


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## scotswahae

Seems to have been quite a few views but no real progress as I have not received any specific suggestions


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## steveB

I have transferred a few clients pensions in Germany to a QROPS. 
/SNIP/


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## scotswahae

*QROPS reply*

How can I post a reply to Steve B as the site says I cannot reply as I have less than 4 posts


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## James3214

You need 5 posts to PM so just contribute to another thread and you should be ok to PM


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## scotswahae

James3214 said:


> You need 5 posts to PM so just contribute to another thread and you should be ok to PM


THanks 
I am still researching the QROPS issue -it is a nightmare


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## dalevine

scotswahae said:


> THanks
> I am still researching the QROPS issue -it is a nightmare


Scotswahae,

This is something I deal with on a daily basis having worked in the pension industry both in the uk and abroad, now based here in Germany id be happy to answer any questions or queries you may have, feel free to drop me a private message and ill get back to you straight away  researching QROPS is a nightmare i can point you in the right directions, Always happy to help!

Dale


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## scotswahae

dalevine said:


> Scotswahae,
> 
> This is something I deal with on a daily basis having worked in the pension industry both in the uk and abroad, now based here in Germany id be happy to answer any questions or queries you may have, feel free to drop me a private message and ill get back to you straight away  researching QROPS is a nightmare i can point you in the right directions, Always happy to help!
> 
> Dale


I am loking for a scheme that has a flat fee set up and flat fee ongoing fees.
I do not want to have any risk so I would be happy to have all my fund in a bank type deposit with fixed interest. 
My plan is to take just my tax free sum over a 4 year period and then start drawing down the maximum allowed.
I have been resident in Germany for 17 years.
I would also like to know what happens in a few years time if I go back to the UK doI have toclose the QROP and go back to a SIPP.
I appreciate your help.


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## James3214

dalevine said:


> Scotswahae,
> 
> This is something I deal with on a daily basis having worked in the pension industry both in the uk and abroad, now based here in Germany id be happy to answer any questions or queries you may have, feel free to drop me a private message and ill get back to you straight away  researching QROPS is a nightmare i can point you in the right directions, Always happy to help!
> 
> Dale


Welcome to Germany (and the forum) Dale. Please change your 'location' in your profile as it still shows 'Cyprus'. Please post any advice on the forum and only use PMs for private or sensitive advice. 
Also be reminded that touting for business is against forum rules unless you are a 'premium' member.


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## dalevine

thanks for the welcome James, I have been trying to change the location however, it will not let me saying I do not have permission to do so ... i must presume I'm doing something wrong here? If you can let me know what im doing wrong that would be great!!


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## James3214

dalevine said:


> thanks for the welcome James, I have been trying to change the location however, it will not let me saying I do not have permission to do so ... i must presume I'm doing something wrong here? If you can let me know what im doing wrong that would be great!!


Click on 'QUICK LINKS' and then 'Edit Your Details'. If you still have problems PM me.

Now where is that QROPS advice for the OP?


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## dalevine

3rd time lucky with this response now!... lets hope it works..


There are a variety of schemes available with various charging structures but ones do exist as you have asked with flat fees intially and ongoing. The important factor here is to ensure they scheme is on HMRC's approved list for QROPS as this was updated April 2012 and many schemes removed for not meeting criteria. There are many urisdictions available for the schemes and whereby the sovereign isles such as Guernsey Isle of Man, Gilbratar, etc have been favoured in the past since the changes Malta has become the preferred destination for providers due to their favourable pension tax regime and numerous double taxation treaties. The choice of jurisdiction would depend on your residence and other factors but is something that should be looked at.

Investment options within a QROPS are very flexible compared to a SIPP and should be decided based upon an individuals own preference to risk. Naturally being a pension fund, preservation should be a key factor and arrangements like you have suggested and readily available, low risk, fixed return etc

Your tax free lump sum where in most schemes would be 25%, if Malta was chosen as the jurisdiction for your QROPS this can be up to 30% initially. Your maximum drawdown you wish to take would be based on GAD rates at the time but again your intended method is more than possible.

As you have been outside of the Uk for more than 5 years it would have no effect on your QROPS, it's a portable product whether you chose to go back to the UK or elsewhere. The great thing is you keep all the benefits of QROPS wherever you move all that would happen is you would pay tax on the income you take at the rate of the country you reside in. 

Sorry if answers are vague in anyway as its difficult to be to specific without any real figures or knowing somebodies exact circumstance but i hope that answers those questions for you. If you have any more please feel free to ask 

Dale


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## dalevine

thanks James 3214, changes made


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