Guernsey’s perplexing pension transfer problem
Tug of war means clients can struggle to move their retirement pots
Concept Group
-
-
Sovereign acquires Gibraltar book from Concept
Sovereign Group has acquired the pensions business of Concept Trustees (Gibraltar), including all of the pension schemes under the Aurora Europa brand, from Concept Group.
-
PEOPLE MOVES: Standard Life, Quilter Cheviot, Crowe CW
Standard Life’s chief executive for UK and Europe Pensions and Savings is to retire, with Quilter Cheviot’s chief executive announcing similar plans. Audit, tax and advisory firm Crowe Clark Whitehill sadly announced on Friday that its national head of private clients has died.
-
Concept Group launches ‘low cost’ Guernsey trust product
International pension provider Concept Group has launched an estate planning product which uses a Guernsey discretionary trust arrangement to wrap investment portfolios in a “cost efficient” manner.
-
Guernsey Finance appoints Lyndon Trott chairman
The board of Guernsey Finance has appointed Lyndon Trott as chairman, effective from 1 December. Trott replaces Jim Gilligan, who is retiring having held the position since 2006.
-
Guernsey gives green light for flexi-drawdown changes
Guernsey’s Government has passed legislation allowing flexi-drawdown for its international pension plans, including delisted QROPS funds.
-
UK Gov’t to plug QROPS public sector loophole
The UK Government is currently looking to close a loophole that allows expats to transfer their unfunded public sector pensions into qualifying recognised overseas pension schemes (QROPS).
-
Concept Group challenges Aegon pension fraud report
International pension provider, Concept Group, has hit back at a recent report from Aegon, which claimed that 80% of overseas pension transfer requests were fraudulent.
-
HMRC scraps thousands of QROPS from overseas pensions list
HM Revenue & Customs has dropped thousands of QROPS from its recognised overseas pension schemes (ROPS) list, with Australian schemes faring the worst.
-
QROPS transfers risk rejection as advisers left in the dark
Pension transfers into QROPS could face mass rejection as non-UK advisers miss new qualification requirements finalised earlier this week, a senior industry figure has warned.
-
Malta QROPS to keep full-flexibility
Holders of Malta-based QROPS will still benefit from full flexibility despite HM Revenue & Customs reversal on complete withdrawals from the schemes earlier this month, says Old Mutual Wealth.
-
Concept removes upper limit on Aurora Lite offering
Guernsey-headquartered QROPS provider Concept Group has removed the upper limit on its Aurora Lite offering and waived transfer fees into and out of its Gibraltar-based schemes.