The administration involved in transferring out of UK pension schemes can be difficult and time consuming.The QROPS Bureau are experienced in this type of work and are well connected with a number of the UK pension schemes.
The QROPS Bureau will support the adviser by liaising between the UK pension scheme administrators and the receiving pension scheme to ensure that the transfer is completed as smoothly and efficiently as possible.
Once the adviser has recommended a suitable pension solution The QROPS Bureau will support the adviser in seeing the transfer through to completion. The following services can be provided:
• Obtaining application forms from the receiving pension scheme and ensuring that the application pack is correctly completed.
• Liaising between adviser and pension provider to ensure application pack is correctly completed.
• Contacting the transferring UK pension scheme(s), with a client letter of authority to supply them with discharge forms and request transfer to receiving scheme.
• Liaising between the UK Scheme(s) and receiving scheme until completion of the transfer.
• We can deal with the UK pension scheme administrators in their time zone by telephone and email.
• Once transfer complete liaising with pension provider to ensure funds are invested into underlying investment solution.
• Once transfer complete liaising with pension provider to ensure adviser fees are paid as appropriate.
What are the Costs?
Administration support can be provided for a fixed fee of £500. This includes transfers from up to 2 UK schemes. Support for additional transfers will be charged at £250 per transfer.
Please see the attached PDF for more details.