Showing posts from January, 2021

Central Vigilance Commission Certificate


Foreign direct investment in India & Tax Collections in UK

  Foreign direct investment or FDI is one of the most important sources of non-debt finance and a major factor in the economic development of any country. According to the World Investment Report, 2020 of the United Nations Conference on Trade and Development (UNCTAD), India jumped from 12th spot in 2018 to 9th spot in 2019 on the list of global top 20 recipients of FDI. FDI inflows into India increased from US$ 44 billion in 2018 to US$ 51 billion in 2019 putting India among the top 10 recipients of FDI in the world.  The numbers coming in from the UK are equally incredible, however, they’re for all the wrong reasons. While overall tax income is down 28%, sales tax (VAT) is down 46%, and employment taxes are down 29%. Government debt levels have exploded to above 101% and expected to reach 120% by next year. If you’re an NRI in the UK and are planning to retire in India, bringing your pension along with you is the best decision you could make. How do I transfer my pension from the UK

QROPS guide for Indian Pension Plans (Schemes)

For Indians living abroad and planning their retirement back home in India, a pension fund is a critical aspect of that plan. What it is, is essentially a fund which you invest a regular sum of money into during your employment years in order to draw payments from once you retire. For non-resident Indians returning home, the government offers a number of tax benefits on pension schemes, depending on your plan of course. In fact, Section 80C of the Income Tax Act, 1961, covers several retirement plans and taxpayers are eligible for tax deductions of up to Rs.1.5 lakh. QROPS schemes in India For NRIs returning from the UK in particular, India currently has about 14 Retirement Plans from four different vendors that are recognized by the HMRC as valid QROPS schemes, each of which, like every other pension plan in India, has two phases, accumulation and distribution. During the accumulation phase, you pay premiums throughout the tenure of the plan, and the maturity benefits are saved up to

Is there a lot of paperwork involved in transferring a UK pension fund to indian QROPS?

  Benjamin Franklin, one of the eight founding fathers of the United States of America, was quite famously quoted stating “time is money.” While there probably isn’t anyone alive that hasn’t heard this quote, what few realize is that he’s talking about opportunity cost . What this means is that while each choice we make has a cost, delays, or even a choice to not take any action has a cost as well, usually in the form of decreased output. If you have a pension fund in the UK and you live in India, you’re paying an opportunity cost. That opportunity cost includes the valuable time and money you could save by having your pension fund easily accessible and not having to worry about exchange rates, taxes, and regulations of two different countries. Additionally, another opportunity cost you pay is access to one of the world’s fastest-growing stock markets, as well as schemes with guaranteed interest rates of up to 10.5% How do I know if I’m eligible? If you’ve worked in the UK at some poin

  WWW.QROPSDIRECT.IN Led by Mr. J.Noble Yuvaraj and his team of financial advisors, was established in 2009 and has been helping people transfer their UK Pension Funds to INDIA through QROPS (Qualifying Recognized Overseas Pension Scheme) ever since. QROPS (Qualifying Recognized Overseas Pension Scheme) is a title given to overseas pension schemes that are in compliance with the strict guidelines set in place by HMRC ( Her Majesty Revenue And Customs). If you’ve worked in the UK at some point in time and have contributed to a Registered Pension Scheme, you are eligible to transfer your pension fund to India through QROPS without incurring any penalty. This includes Occupational, Final salary, Defined benefit, Defined contribution, Self-invested personal pension, and Small self-administered schemes. QROPS stands for Qualifying Recognised Overseas Pension Scheme and refers to all overseas pension schemes that meet the stringent guidelines and parameters set by Her Majesty&

HMRC Approved QROPS Schemes For India January 2021


What is QROPS and Who can apply for a QROPS?

QROPS or Qualifying Recognised Overseas Pension Scheme, is an overseas pension scheme that is in compliance with specific guidelines and requirements set by HMRC or Her Majesty's Revenue and Customs. Such compliant schemes are eligible to receive transfers from United Kingdom (UK) Pension Benefits without incurring any unauthorised payment or scheme sanction charges. This greatly benefits Indians who have worked in the UK and want to move back to India. Since they have made regular contributions towards a pension fund in the UK, the government allows them to transfer their pension funds to compliant pension schemes in India registered as QROPS. When was the QROPS legislation introduced? In April 2006, the HMRC introduced QROPS for individuals with UK pensions who are moving permanently away from the UK and would like to take their pensions with them. What are the key benefits of a QROPS Pension Transfer? •   Tax efficiency 1. Easier to keep track of taxes and regulations. 2. Avoid

How difficult is it to transfer my QROPS pension fund from the UK to India?

  J R R Tolkien, author of The Lord of the Rings, was famously quoted stating “all we have to decide, is what to do with the time given us.” While there may be a number of things on our “bucket-list,” what we don’t want to be doing is spending time, money, and energy managing our pension fund in the UK, while we’re here in India. Not only is keeping track of taxes and regulations across two countries time consuming, the foreign exchange conversion rates can quickly eat into your savings as well. How difficult is it to transfer my QROPS pension fund from the UK to India? While there are a number of pension schemes available in India, very few actually meet the requirements set by Her Majesty’s Revenue and Customs (HMRC), causing a rather large number of applications to be rejected. This is no reason to be disheartened however, as with a little extra care and diligence, Mr. J Noble Yuvaraj has been assisting pensioners to transfer their savings over to India, since 2008 and to the tune o

If my QROPS transfer application was rejected, can I try again and how long will it take?

  Charles Darwin once famously said, “a man who dares to waste one hour of time has not discovered the value of life.” This is especially true for people who are retired and living on a pension since they’ve spent their entire lives working hard to enjoy these golden days. The last thing they should have to do is spend not one, but hours and hours navigating through taxes, regulations, and foreign exchange rates of two different countries, just to access their pension fund. Yes, if you’ve lived and worked in the UK and live in India but your pension is still over there, you can look forward to a tsunami of regulations to navigate through once it’s time for you to collect your pension. Not to mention a 45% death tax that will go to HMRC (Her Majesty’s Revenue & Customs) in the case of your unfortunate death. The good news, however, is that transferring your pension fund to India is quick and easy with a little time, diligence, and attention to detail. If my QROPS transfer applicatio