Momentum Pensions, the pensions provider which has operations in both the Isle of Man and Malta, has launched into the open market an IoM QROPS that it says will compliment and replicate its existing Malta-based qualifying recognised overseas pension scheme.
An insight into the financial hopes of people living in the UK during the course of 2012, courtesy of Prudential.
The global QROPS industry breathed a collective sigh of relief this morning as HM Treasury released a Draft Finance Bill that contained only a relatively minor increase in reporting requirements for administrators of overseas pension schemes.
Sovereign has launched a new Malta-domiciled QROPS, its first based in the jurisdiction, as well as a “lite” version of its Gibraltar based Calpe Retirement Benefit Scheme.
Pension transfers from overseas schemes into New Zealand, including QROPS, may be subject to an “effective tax rate” of up to 33% if proposed changes to the country’s tax legislation go ahead.
The Evergreen Retirement Trust, a registered New Zealand superannuation scheme which benefits from being classified as a QROPs, has been “temporarily suspended” from HM Revenue & Custom’s list of such qualifying recognised overseas pension schemes, trust director Simon Swallow today confirmed.
Kleinwort Benson is to sell all of the offshore retail and pensions trust business it acquired from Close Brothers in 2011 to QROPS and QNUPS specialist, Overseas Trust and Pension.
MC Trustees has resumed accepting business into its Malta QROPS scheme, which has been restored to HM Revenue & Customs' online list.
A steady stream of new QROPS have been launched out of Gibraltar since the jurisdiction passed “QROPS friendly” pension legislation earlier this year.
Prudential International has pulled the wraps off the RDR-ready versions of its International Prudence Bond (IPB) and Portfolio Account (PA) its two main offshore bond products ahead of the 1 January 2013 implementation of the Retail Distribution Review.
Last week International Adviser held its second annual International Pensions Forum South Africa in Cape Town.
An association of pension fund administrators in Gibraltar has pulled the wraps off a new code of conduct it says is to be mandatory for companies seeking to administer UK pension schemes transferred to the British overseas territory.
