What is QROPS?
A pension scheme which is administered outside the UK and is registered with HMRC (Her Majesty’s Revenue & Customs). QROPS facilitates easy and convenient pension fund transfer from the United Kingdom.
Why you need 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 efficient retirement product registered as QROPS with HMRC.
What are the benefits of QROPS?
QROPS Benefits are as follows:
- Tax Efficient transfer of your pension pot accumulated in the UK to India.
- Provides steady income for you post retirement in India.
- Allows your funds with a growth opportunity in India.
How to start QROPS transfer Process?
The steps are as follows:
- Register yourself with us for QROPS transfer.
- Obtain Statement of Account, Transfer Payout Form & Life Time Allowance form from the Fund House ( we will help you to get the forms )
- Submission of Fund House Docs, KYC, HMRC Forms post choice of QROPS Scheme
- QROPS Transfer application from Indian Pension Fund House to UK Fund House
- Transfer of funds from UK Fund House to Indian Pension Fund House
- Issuance of New Pension Policy
Note: The process/ KYC documents needed are subject to changes and on the discretion of the UK Fund house.