General

Not entirely. The transfer itself is tax-free if done through an HMRC-approved QROPS scheme. Post-transfer, withdrawals are taxed under Indian income tax rules but India’s tax rates are generally more favourable than the UK’s. 2. What are the risks of QROPS? Choosing a non-HMRC-approved scheme, transferring prematurely before settling in India or using an unqualified […]

After a QROPS transfer, HMRC monitors your residency for 5 years. If you move to a third country (not UK, not India) within this period, a 25% Overseas Transfer Charge may apply. Staying in India keeps you compliant. 2. What is the 10 year rule for QROPS? From April 2024, HMRC extended reporting obligations. The […]

1. Is QROPS a good idea? Yes, for Indians who have permanently returned from the UK and hold a UK pension. It consolidates your pension into India, eliminates inheritance tax and brings your retirement savings home under Indian tax laws. 2. Who can advise on QROPS? In India, only advisers registered with IRDAI and QROPS […]

The government-backed “unfunded” public sector schemes transfer out is legally blocked • NHS Pension Scheme• Teachers’ Pension Scheme• Civil Service Pension Scheme• Armed Forces Pension Scheme• Police Pension Scheme• Firefighters’ Pension Scheme• UK State Pension (cannot be transferred under any circumstances)  Also Cannot Be Transferred: • Any pension where you have already drawn 25% tax […]

If your pension is a private or workplace pension (defined contribution or defined benefit) you have the legal right to transfer it to an HMRC-approved QROPS in India. Here are the 20+ major UK providers we regularly work with: UK Pension Providers That Allow QROPS Transfer to India 1. Standard Life – One of the […]

Check the recognized overseas pension schemes notification list: The following schemes in the QROPS List India have been conveyed to HMRC that they meet the conditions to be a recognised overseas pension scheme (ROPS). ROPS Country ABSLI Guaranteed Annuity Plus India Axis Max Life Forever Young Pension Plan India Axis Max Life Guaranteed Lifetime Income […]