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QROPS to receive same flexibility as UK pensions

QROPS to receive same flexibility as UK pensions

The Taxation of Pensions Bill, debated in Parliament last week, will ensure additional benefits available on UK registered pension schemes will be open to QROPS, contrary to some early interpretation.

Last week International Adviserreported that a paragraph within a note published by HMRC to accompany the Bill, suggested QROPS providers will be required to re-test a client’s pension against the lifetime allowance (LTA) after it has been transferred from a UK pension. Please link to International Adviser to read the full article by Simon Danaher.

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