Wednesday, 29 February 2012

‘I thought about QROPS but it’s not for me’


Maybe that is you? Something put you off?

From the correspondence I receive, from expats in Spain, the discussions I have with professional advisers and also what I read, there are lots of you in this position.

  • What are the alternatives?

  • Are you a long-term expatriate in Spain?

  • Is access to your funds an issue?


In a previous post on my Blog, I listed 26 different types of pension schemes and plans. That just seems incredible but it’s why UK pensions are so complex. The list is at;


In addition to that list there is also QROPS and QNUPS which are intended for expats to transfer their UK plans. It’s also not an exhaustive list, there could be others.

Everyone who reads this post and checks the list of schemes and plans will have their own, personal and unique circumstances. Without knowing more it’s impossible to say what’s right for YOU.

These factors need to be addressed;

  • What type of plan or plans you have
  • What is the value of each of your plans
  • Long-term or short-term expatriate
  • In your overall retirement planning, how important are your pension plans
  • What will your retirement income be with and without pension schemes
  • Your current age and when you plan to take income from your pension arrangement
  • The currency you want your income paid in
  • Given that you are UK non-resident, what is your actual tax status and when did you leave the UK
  • Nationality, Residence and Domicile

There maybe more – but YOUR circumstances are unique. Don’t let the list put you off, tackling these issues is often the catalyst for improving your situation or you might say peace of mind

With many of my posts I produce a Questions & Answers section but not on this occasion as every situation is unique. But you can ask me your questions by email. Remember though, the more you tell me the better chance I have of giving you an answer.

Additional reading from ‘Financial Pages in Spain

QROPS in 2012

Explaining Pension Terms and Expressions

Getting a Second Opinion

There is also one in particular that I would like to bring to the notice of working expats. International Pension (UK Approved)

As the advertisement says; Just Do It



David Goodall
Financial Pages in Spain