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Australia and New Zealand QROPS risk HMRC delisting

Australia and New Zealand QROPS risk HMRC delisting

Overseas pensions in Australia and New Zealand could lose QROPS status after a letter sent by HM Revenue & Customs forced all schemes to ensure that policyholders can only access benefits before the age of 55 in the same circumstances as a UK pension.

The letter, dated 17 April 2015, asks scheme operators to ensure that the country in which the scheme is established acts to prohibit the payment of benefits before age 55 unless the member is retiring due to ill-health, in line with UK pension rules. Please link to International Adviser to read the full article by Daniel Flynn.

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