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Advisers told to delay QROPS transfers as HMRC suspends list

Advisers told to delay QROPS transfers as HMRC suspends list

Advisers have been "strongly advised" to exercise caution around QROPS transfers until HMRC lifts its suspension of the overseas pensions list, with the Revenue suggesting that schemes will be missing upon its return. Following HMRC's announcement yesterday that it has suspended the recognised overseas pension schemes (ROPS) list for "reformatting" until 1 July, James McLeod, head of pensions at AES International, said it is "essential" that advisers and trustees of transferring pension schemes check whether schemes meet the Qualifying Recognised Overseas Pension Scheme criteria. Please link to International Adviser to read the full article by Daniel Flynn.

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