London & Colonial, the London-based investment products distributor and administrator, said it is reviving a long-harboured plan to establish a QROPS in Gibraltar, in the wake of news that the territory plans to amend its pension legislation in an effort to accommodate pension transfers.
Gibraltar has published a bill to amend its its pension regulations, as it seeks to revive its currently dormant QROPS industry confirming reports earlier this year that it was considering such a move.
SuperLife Ltd, the major New Zealand superannuation and financial services provider, has refuted a report that it is not accepting any more transfers into its Kiwisavers QROP scheme.
Pension industry experts today expressed surprise over the wording of newly-issued clarification by HM Revenue & Customs, of its decision to leave hundreds of QROP schemes off of its revised QROPS list last month.
HM Revenue & Customs has at last broken its silence on its unexpected decision last month to remove all but three Guernsey QROPS from its list of registered schemes, which was published on 12 April and which has seen Guernseys previously booming QROPS industry brought to a jolting halt.
Individuals should take greater personal responsibility for their own finances, according to Nigel Green, chief executive of international intermediary firm deVere Group.
The chairman of the Guernsey Association of Pension Providers has confirmed the body may consider making a formal complaint against HM Revenue & Customs in response to its decision to de-list more than 300 of the jurisdiction’s QROP Schemes.
BW Oakfield Group, an Isle of Man pensions and QROPS provider, has acquired an IoM rival, Momentum Pensions, and a controlling interest in Momentums Maltese operation.
Rex Cowley, principal of New Dawn Consultancy & Research is predicting a new playing field for QROPS providers as he publishes the first definitive study on this evolving area of the international pensions market.
The Isle of Mans pension association has said close cooperation between its public and private sectors and a wait-and-see approach has meant the island has emerged almost unscathed from recent changes to HM Revenue & Customs QROPS list.
Platform One, a relatively new UK-based investment platform aimed at advisers with high net worth clients, has agreed a deal with TMF Group whereby its clients may access TMFs Melita QROP scheme, administered out of Malta.
Guernsey Finance has reacted angrily to the decision by HM Revenue & Customs to de-list nearly all of the islands QROPS last week, calling it an unjust attack on the jurisdiction.
