QROPS India Pension Schemes

Did you know that The Bank of England has forecast that the coronavirus crisis will push the UK economy into its deepest recession in 300 years? To put that in context, this means the coming economic slump in the UK is expected to be worse than the great depression and 2 world wars. If that wasn’t enough, the UK economy shrank by a record-breaking 9.9% in 2020 alone, which is the biggest contraction or “shrinkage” by a developed country. If you’ve worked in the UK and have accumulated a pension fund over the years, now is the time to get your money out of a broken economy, and into one that’s quite the opposite. While the pandemic has adversely affected a number of countries, India has actually seen growth and is now the 5th largest economy (in terms of nominal GDP) in the world. Additionally, India's economy has nearly increased sixfold in size in less than 20 years and is only expected to get bigger and better. How do I transfer my UK pension to India without incurring a penalty?

  Did you know that India’s economy is the third-largest in the world in terms of purchasing power parity (PPP)? While India is well known for its information technology and business process outsourcing industries, a lot of people don’t realize that we rank second in farm output and 12th in factory output in the world. Additionally, we’re the only country with a population and economy that rivals China and we’re already seeing a global shift with FDI being diverted from China to India on a global scale. If there ever was a time for you to take your pension fund that’s gathering dust in a broken economy that’s only expected to get worse, now is that time. Not only is the transfer through QROPS free of any penalties and charges, but it also comes with investment opportunities that you wouldn’t be able to dream about in the UK. Fixed rate schemes with guaranteed interest rates of up to 10.5% and opportunities to invest in the largest and oldest stock exchanges in Asia and the world. I alr

 

  Did you know that investing in individual stocks is a lot more expensive and time-consuming than investing in mutual funds and ULIPS? Additionally, not everyone can afford professional money-management, which is why mutual funds and ULIPS were created, to bring expert financial advice and stock analysis to the masses. They also offer a well-documented prospectus for each fund, as well as semi-annual or annual reports about how the fund invests. If you’re an NRI who’s worked in the UK and and are now planning to retire in India, you can move your pension funds into a QROPS ‘in specie’, which means you can invest it in ULIPS in India, under the QROPS umbrella for tax shelter. Alternatively, you could invest in fixed instruments with fixed interest rates of up to 10.5%. Considering the Indian economy is still booming with FDI pouring in and the Bank of England has predicted the worst recession in 300 years, this might just be the right time to get your pension out. Is there a penalty in

  General 1. First digital Budget in the history of India 2. Vehicle Scrapping Policy. Vehicle Fitness Test after 20 years in case of Personal vehicle and 15 years in case of commercial vehicles 3. 64,180 crores allocated for New Health Schemes 4. 35,000 crores allocated for Covid Vaccine 5. 7 Mega Textile Investment parks will be launched in 3 years 6. 5.54 lakh crore provided for Capital Expenditure 7. 1.18 lakh crore for Ministry of Roads 8. 1.10 lakh crore allocated to Railways 9. Proposal to amend Insurance Act. Proposal to increase FDI from 49% to 74 %.  10. Deposit Insurance cover (DICGC Act 1961 to be amended). Easy and time bound access of deposits to help depositors of stress banks. 11. Proposal to revive definition of ‘Small Companies’ under Companies Act 2013. Capital  less than 2 Cr. and Turnover Less than 20 Cr. 12. Disinvestment: IPO of LIC, Announced Disinvestment of Companies will be completed in FY 2021-22 Direct and Indirect tax 1. Senior Citizens: Reduced Compliance

  Did you know, that as per the quarterly Fact Sheet on FDI released on November 27, 2020, FDI into India totalled US$ 30 billion during the first half of the current fiscal year (2020-2021) as compared to US$ 26 billion for the same period last year? What this means is that while most of the global economy is still dealing with the effects of the pandemic, foreign investment continues to pour into India and there are a number of reasons for this.  While India does have the second-largest population and fifth-largest economy in the world, Post-Covid, the world is turning away from China and looking to countries like Taiwan, Thailand, Vietnam, and India to take up the slack. A good example is the German shoe brand, Von Wellx, which shifted its manufacturing units from China to Agra in Uttar Pradesh, India, in October of last year. The German brand has collaborated with an Indian company, Iatric Industries Group, to shift its manufacturing units to Agra's Exports Promotion Industrial