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ROPS
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South Africa still open for Rops
Removal of the last recognised overseas pension scheme from UK list has not closed the door
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Aussie and IoM schemes boost UK Rops list as transfers drop
HM Revenue & Customs’ list of recognised overseas pension schemes (Rops) has grown by 10% on the back of more schemes from Australia and the Isle of Man being added. This rise, however, follows official figures showing that the number of Qrops transfers hit its lowest level for six years last year.
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‘Questions need to be asked’ about the Rops list suspension
HM Revenue & Customs’ list of recognised overseas pension schemes (Rops) may be back, but the delay in issuing it has to be carefully analysed, says Montfort International managing director Geraint Davies.
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Rops list sees Aussie rebound but Channel Islands wane further
After missing its Monday deadline, HM Revenue & Customs released an updated recognised overseas pension scheme (Rops) list on Wednesday that saw Australian scheme numbers rise, while Guernsey and Jersey continued their declines.
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Pension transfer delays expected as HMRC misses Rops deadline
Pension transfers are likely to be delayed and providers, advisers and clients have been left in limbo after HM Revenue & Customs failed to publish a new list of recognised overseas pension schemes (Rops) that was scheduled for Monday.
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Qrops cull expected in shock second suspension of UK list
HM Revenue & Customs is to temporarily suspend its list of qualifying recognised overseas pension schemes (Qrops) for a second time on 2 June, signalling a further cull amid a drastic overhaul of overseas pension transfers.
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Ombudsman orders deVere UK to compensate client
The UK’s financial ombudsman has upheld a complaint against deVere and Partners (UK), in part, after a client accused the international advice firm of “passing the buck”, not providing sufficient advice and making poor investment choices.
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Castle Trust launches multi-jurisdictional Rops
Gibraltar-based Castle Trust Group has launched the Centurion Retirement Plan featuring recognised overseas pension schemes (Rops) in Gibraltar and Malta that allow free switching between the schemes and jurisdictions to suit clients’ changing needs.
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Provisca brings UK standards to int’l pension transfers
International product distribution company Provisca has signed a partnership agreement to market and distribute The QROPS Bureau’s independent technical support, due diligence and compliance support service to advisers outside the UK.
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All Canadian schemes removed from HMRC Rops list
UK pension transfers to Canada have been effectively blocked after the three remaining Canadian recognised overseas pension schemes (Rops) were removed from HM Revenue & Customs’ (HMRC) list on Wednesday.
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UK taxman shutting down online Rops service
HM Revenue & Customs (HMRC) will close its online service for managing recognised overseas pension schemes (Rops) on 5 April 2017, as it is no longer collecting the information the taxman needs.