There is always a gap in what we know about things and how they actually work. Let's start the year with a recap of developments in the world of QROPS. The more informed we are, the better decisions we make!
There have been quite a few changes indeed during 2015 in terms of #legislation. The good news is that the main benefits of using a QROPS remain as before:
- You can still take a lump sum of up to 30% of your pension fund free from UK tax
- Your pension can be denominated in the currency of your choice, which helps mitigate your exposure to exchange rates, whilst at the same time simplifying pension payments.
- Upon death your pension can be passed on to your 'loved ones' free of UK inheritance tax
For more information visit www.axis-finance.com