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Gibraltar ‘very well positioned’ for fully-flexible QROPS

Gibraltar ‘very well positioned’ for fully-flexible QROPS

A legislative amendment leaves Gibraltar "very well positioned" to follow Malta's lead in adapting to HM Revenue & Customs introduction of full flexibility to Qualifying Recognised Overseas Pension Schemes (QROPS).

At the end of December last year, HMRC issued draft legislation to allow QROPS full flexibility in drawing pension benefits from 6 April 2015, removing the previous requirement for 70% of the funds in a scheme to provide an income for life. This was subject to a four week consultation.

Please link to International Adviser to read the full article by Daniel Flynn.

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