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Qualifying Recognised Overseas Pension Schemes - QROPS

These are existing pensions that have been set up primarily in the UK but it is possible to have them in many other jurisdictions around the world.   These can be transferred to the Island and will benefit under most of the Isle of Man rules once the individual has lived outside of the UK for 5 years.  This is obviously a major benefit for any Manx residents who have one or more existing UK pensions and wants to move them here.  This obviously requires very careful consideration and professional advice and our pensions and retirement expert Gerald Chase is happy to discuss your requirements and may be contacted on 01624 612611 or by e-mail at pensions@financialoptions.co.im.