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Qrops


Joined: 21/05/2011
Posts: 19

Message Posted:
20/07/2011 13:44

Comparison UK Pensions and QROPS





CASH LUMP SUM



UK:- This is limited to a maximum of 25% of the value of your pension fund.



QROPS:- May offer a much higher tax free cash lump sum which can be upto 100%.



TAXATION



UK Pension:-All income tax derived from a UK pension is taxed at source.



QROPS:- Can significantly reduce the amount of income tax, in some cases to zero.





BIGGER LEGACY





UK:- If you die with a UK pension scheme your spouse can get up to 2/3rds of the pension you would have received (dependent upon the scheme). If you both die your pension WILL die with you.



QROPS:- All of your pension passes to your nominated beneficiaries in full, TAX FREE, and not a windfall for the pension company or the tax man.



INHERITANCE TAX



UK:- Any asset left upon death to your beneficiaries (except your spouse) will be subject to UK Inheritance Tax currently at 40%.



QROPS:- No UK Inheritance Tax charge upon death.



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