# Advice about QROPS?



## KazT (Sep 11, 2012)

I've just checked the value of my UK pension and as expected the value is going down by the minute so I've been having a look around for some alternatives, 

I know QROPS has been available since 2006 but I've only just come across it. Has anyone actually transfered there UK pension into Qrops?

I could do with a better understanding of how it all works , can anyone give me a idiots proof breakdown into the + and - of transferring an existing UK pension into a QROPS scheme. 

Many thanks


----------



## m1key (Jun 29, 2011)

A far better question would be if anyone knows a good financial advisor. A good financial advisor will be able to lay out your options based on your situation and allow you to make the best decisions.


----------



## Laowei (Nov 29, 2009)

m1key said:


> A far better question would be if anyone knows a good financial advisor. A good financial advisor will be able to lay out your options based on your situation and allow you to make the best decisions.


Absolutely agree with M1key, 1st thing is to find a good financial advisor with a reputable company they will then advise you. QROPs may not be the best choice for you as SIPP's is the other option (Self Invested Personal pension) again a good and reputable one would advise you, this is something you wont be able to do by yourself.

I moved mine into a SIPP 2 years ago with the help of Elphaba on this board, would contact her as a first step she is reliable and trustworthy and wont give you advise based on what is best for her! Unlike a lot of the muppest thats pretend to be experts in finance as they have a gsce in maths and spent their first job in charge of counting the change in macdonalds, they also rely on pushing cold calling to get business.

Get to 5 posts and pm if you want her details.


----------



## olsontowers (Jan 18, 2011)

Couldn't agree more!!

A reputable IFA will do a proper transfer analysis for you and be able to explain the pro's and con's for you.

It's imperative that you don't give into the cold calling that happens here!! There's no regulation of financial services here unlike the Uk, where the FSA make advisors pay for poor advice.

My suggestion to you is get to 5 messages then PM Elphaba. She'll take good care of you and have your interests at heart!!


----------



## KazT (Sep 11, 2012)

Thanks to all for the advice. I have already been the subject of "cold calling" and as a result I consulted a Financial Advisor but still felt he was interested more in how much he could make rather than what was best for my circumstances. Thus the reason for my post. Will PM for the details of Elphaba when I get to 5 messages. Thanks again


----------



## DJinSpain (Aug 24, 2009)

*Good Advice*

This is something I came across called Financial Pages in Spain (you'll need to Google it)


It is very thorough but sets things out very clearly. I love the fact that theres no adverts. Might be worth asking the guy for more information

DJ


----------



## Ogri750 (Feb 14, 2008)

Send a message to Elphaba on this forum.

She will give you great advice on all matters financial. She also writes a column in The National as well as being a regular on Dubai Eye


----------



## richardbkk (Oct 21, 2011)

KazT said:


> I've just checked the value of my UK pension and as expected the value is going down by the minute so I've been having a look around for some alternatives,
> 
> I know QROPS has been available since 2006 but I've only just come across it. Has anyone actually transfered there UK pension into Qrops?
> 
> ...


Try QROPS Specialists. Depends on the size of your pension, type of pension, your age as well as any benefits you are getting. You may be better off in a SIPP or leaving it where its is. New amendments to QROPS regulations on April 6th mean that Guernsey closed down. Now, you would be better off transferring to Malta if a QROPS is suitable for your situation.


----------



## Elphaba (Jan 24, 2008)

KazT said:


> I've just checked the value of my UK pension and as expected the value is going down by the minute so I've been having a look around for some alternatives,
> 
> I know QROPS has been available since 2006 but I've only just come across it. Has anyone actually transfered there UK pension into Qrops?
> 
> ...


Hello

Suggets you drop me a line (contact details can be found in my signature link). I guarantee unbiased advice in plain English.

QROPS are only suitable for very few people as they are all sorts of complications. Whilst they are suitable for a few people (mainly older and long term expats) they are sadly mis-sold to many people.


----------

