Did you know that India became the world’s fifth-largest economy in 2019, surpassing both France and the UK? Although the pandemic caused a temporary setback, economic forecasts predict that India will overtake the UK by 2025, Germany by 2027, and Japan by 2030. If you have worked in the UK and built a pension fund there, now is an excellent time to consider transferring your UK pension to an Indian QROPS. Not only can you take advantage of favorable exchange rates, but you also gain access to a diverse range of investment opportunities in fixed-income and equity schemes. Additionally, with the UK economy experiencing its worst downturn since 1709, moving your pension to India is a strategic financial decision.
Why Consider Transferring a UK Pension Fund To an Indian QROPS
The benefits of relocating your UK pension to an Indian QROPS go beyond avoiding economic instability. India offers a dynamic investment landscape and lower financial management costs. Here are some key reasons to make the move.
- The transfer process is completed in just 90 days.
- You avoid the UK death tax of 55 percent when you move your pension fund to India.
- The transfer is both tax-free and penalty-free.
- Taxes and money management services in India are significantly cheaper.
- You gain access to investment opportunities ranging from high-growth equity schemes to secure fixed-income plans with interest rates of up to 10.5 percent.
How Long Does the Process Take
Many sources claim that transferring a UK pension fund to an Indian QROPS takes anywhere from six to eight months. However, with the right assistance, the process can be completed in just 90 days. Since 2008, our team has successfully helped transfer over 2.5 billion INR, ensuring fast and efficient processing.
The Right Time to Move Your UK Pension to India
With India’s economy expanding and the UK facing long-term financial challenges, keeping your pension overseas may no longer be the best option. Transferring a UK pension fund to an Indian QROPS allows you to protect your retirement savings, benefit from lower tax rates, and explore better investment opportunities.
If you are considering moving your UK pension to India, professional guidance can ensure a smooth and hassle-free process. With the right approach, you can secure your financial future while making the most of India’s growing economy.
Feel free to contact us for more details.