QROPS

A Qualifying Recognised Overseas Pension Scheme, or QROPS, is an overseas pension scheme that meets certain requirements set by Her Majesty’s Revenue and Customs (HMRC). A QROPS can receive transfers of UK Pension Benefits without incurring an unauthorised payment and scheme sanction charge. The QROPS program was launched on 6 April 2006 as a part of new legislation with the objective of simplifying pensions

• What is Qualifying Recognized Overseas Pension Scheme (QROPS)?
  A pension scheme which is administered outside the UK and is registered with HMRC. QROPS facilitates easy and convenient pension fund transfer from the United Kingdom.
• What is Her Majesty’s Revenue & Customs (HMRC)?
  UK ‘s tax authority responsible for making money available to fund the UK’s public services and for helping
  families and individuals with targeted financial support
• When can you opt for QROPS?
  You can opt for QROPS if you have accumulated a pension fund in the UK and wish to transfer the same to India, in a tax efficient1 retirement product registered as QROPS with HMRC.
• What are the advantages of QROPS solutions ?
  .     Tax Efficient1 transfer of your pension pot accumulated in the UK to India
  .     Provides steady income for you post retirement in India2
  .     Allows your funds with a growth opportunity in India