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Pension transfers into Qrops cools to £740m

Pension transfers into Qrops cools to £740m

Measures designed to curb the abuse of transfers to qualifying recognised overseas pension schemes (Qrops) appear to have been effective, the latest UK government figures reveal.

Measures designed to curb the abuse of transfers to qualifying recognised overseas pension schemes (Qrops) appear to have been effective, the latest UK government figures reveal.


On Tuesday, HM Revenue & Customs revealed that 4,700 defined benefit policyholders had moved their savings worth £740m ($971m, €829m) into a Qrops in the year to 5 April 2018.
The Qrops market has been in steady decline since its peak in 2014/15 when 20,100 accounts worth £1,760m switched into a qualifying overseas scheme.

Please link to International Adviser to read the fulll article by Will Grahame- Clarke.

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