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Government shuts QROPS public sector transfer loophole

Government shuts QROPS public sector transfer loophole

A loophole allowing the transfer of public sector pensions into certain Qualifying Recognised Overseas Pension Schemes (QROPS) has been closed by the UK Government. As pointed out by the Teacher's Pension earlier this month, the banning of public sector pension transfers into QROPS in April did not extend to QROPS schemes which are not occupational pension schemes and which have their main administration in a state in the European Economic Area. Please link to International Adviser to read the full article by Daniel Flynn.

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