Benjamin Franklin, one of the eight founding fathers of the United States of America, was quite famously quoted stating “time is money.” While there probably isn’t anyone alive that hasn’t heard this quote, what few realize is that he’s talking about opportunity cost. What this means is that while each choice we make has a cost, delays, or even a choice to not take any action has a cost as well, usually in the form of decreased output.
If you have a pension fund in the UK and you live in India, you’re paying an opportunity cost. That opportunity cost includes the valuable time and money you could save by having your pension fund easily accessible and not having to worry about exchange rates, taxes, and regulations of two different countries. Additionally, another opportunity cost you pay is access to one of the world’s fastest-growing stock markets, as well as schemes with guaranteed interest rates of up to 10.5%
How do I know if I’m eligible?
If you’ve worked in the UK at some point in time and have contributed to a Registered Pension Scheme, you are eligible to transfer your pension fund to India. This includes Occupational, Final salary, Defined benefit, Defined contribution, Self-invested personal pension, and Small self-administered schemes
How long does it take to transfer a UK pension fund to indian QROPS?
While a quick Google search will tell you it can take up to six months, Mr. J.Noble Yuvaraj is an authority on life insurance, retirement planning, and pension schemes in India and the UK, and gets the job done in 30 working days.
Is there a lot of paperwork involved?
Mr. J.Noble Yuvaraj has been helping people from all over the globe plan their retirement and transfer their pensions to India since 2008 and to the tune of over 2.5 billion INR. As far as paperwork is concerned, Mr. J.Noble Yuvaraj and his team of experts make sure attention is paid to every last detail to ensure compliance with HMRC (Her Majesty’s Revenue and Customs).