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QROPS / QNUPS: Jurisdictional differences matter to Clients

Contributed by SIPP Specialists Limited
31 May, 2011

As we’ve said before – from a QROPS point of view one size DOES NOT fit all. It depends on client requirements as to which jurisdiction is chosen.

Please consider the following points:-

Malta QROPS: Pension payments are made in the form of dividends, which can be taxed at a lower rate than income in several EU countries – single digit taxation in some – making for very tax efficient pensions for some EU residents.

Guernsey QROPS: It is possible for the member to borrow 25% of the fund, not the case in other jurisdictions.

IOM QNUPS: It is possible to invest directly in residential property, not the case in other jurisdictions.

Isle of Man: Is the only QROPS jurisdiction with a dedicated independent Pension Regulator which can give confidence (possibly more than voluntary codes of conduct?)

There are differing maximum drawdown rates and retirement ages in some jurisdictions. Malta is a full EU member andGibraltar has EU membership by association.

Whilst some of these points may appear technical we are aware that they have made a difference to client decisions about which jurisdiction to use.
We can offer:-

  • A choice of QROPS in all the places mentioned above
  • Technical support and advice on QROPS/QNUPS matters
  • A dedicated team of specialists and administrators for you to deal with consistently
  • We do not give financial or investment advice, or insist on using specific investments
  • Clear transparent fees and no hidden commissions
  • High quality administration using market leading systems

If you want to contact us to discuss any of this, please contact us on consultants@sippspecialists.co.im or see www.sippspecialists.co.im or www.sipco.co.im for more information. Alternatively just give us a ring.

Dougie Elliott

PS. We believe in obeying both letter and spirit of the QROPS legislation, which we believe protects all parties involved from any unwanted potential tax charges in the future.

Oaklands Park, Hooton Road, Hooton, South Wirral, CH66 7NZ
Tel: 0151 328 0594 Fax: 0151 328 0707 www.sippspecialists.co.uk

SIPP Specialists Limited - Registered in England and Wales Registered No 4845017
Registered office: Montrose House, Clayhill Park Neston CH64 3RU


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