QROPS India Pension Schemes

  If you’ve worked in the UK at some point in time and have now moved back to your own country, your pension will continue to be held by your pension provider in the UK, until you claim it at the age of 55.  They say “a bird in the hand is worth two in the bush,” and that rings especially true when you’re ready to retire.  Apart from the inconvenience associated with having your pension reach maturity in another country, here are some of the advantages associated with transferring your pension fund to India. Opportunity to invest in schemes with guaranteed interest rates up to 10.5% Easy access to your pension in INR, nullifying any loss due to exchange rate fluctuations during the retirement phase. Higher growth opportunities with one of the world’s largest and fastest-growing stock markets and higher interest paid on bond markets. No inheritance tax in India, so your nominee gets the entire amount in case of an eventuality, as opposed to only 45% for the UK. Transfer of...

Time and convenience are rated the number one priority for pensioners, and this rings  especially true for people living in retirement. If you’ve lived or worked in the UK at some point in  time and have now moved back to your own country, the last thing you want is the inconvenience of having your pension still sitting in the UK. In addition to the more obvious currency exchange charges and complications, you’re also  foregoing a higher growth rate with opportunities to invest in schemes guaranteed to deliver up to 10.5% interest back home in India. Is it possible to transfer my pension fund from the UK to India? Yes, it is possible to transfer your UK pension fund to approved pension schemes in India.  However, while a lot of pension schemes claim to be approved, what’s surprising is that there  are only a select few that actually meet the requirements of Her Majesty’s Revenue and Customs (HMRC), causing a number of applications to be rejected o...

  Michael Faraday, the father of electricity, once said: “That which is convenient is that which is useful, and that which is useful is that which is valuable.” Though the words were spoken over 200 years ago in the year 1818, they ring especially true today where we live in a world where time and convenience are the number one priority. If you’ve worked in the UK at some point in time and have a pension fund that’s still sitting there in UK, it’s not convenient. Now while we wouldn’t go so far as to call it not useful, or not valuable, what we can tell you is that it’s definitely not living up to its potential. Transferring your pension fund to India not only gives you access to one of the world’s largest and fastest-growing stock markets but also to schemes with guaranteed interest rates of up to 10.5%. Other advantages include the fact that you avoid the 45% “death” tax, as well as currency rate fluctuations, making it easier to keep track of tax and regulation changes as well. ...