QROPS - Qualifying Recognised Overseas Pension Schemes were introduced in 2006 as part of a major overhaul of Britain\'s pension framework, aimed at simplifying pension transfers to another country. New legislation was passed by the UK tax authority, HM Revenue and Customs (HMRC), in order to comply with an EU directive that pensions be free to move across Europe\'s borders. This ruling means that individuals, wishing to retire to countries such as France, Spain and Portugal can effectively take their UK pension funds with them: http://www.axis-finance.com/what-are-qrops.php
Who can apply for a QROPS?
A QROPS is specifically designed to allow anyone, not intending to retire in the UK, to transfer existing and frozen UK pension plans into a more appropriate retirement vehicle.
Individuals who are, or have been members of a UK registered pension fund and are currently living outside of the UK, or intending to leave the UK on a permanent basis, can consider transferring their retirement fund into a QROPS: http://www.axis-finance.com/qrops-living-in-France
Transfers to QROPS
The UK Government allows transfers to QROPS to be made free of UK tax. Their aim is to simplify the affairs of individuals leaving the UK on a permanent basis and to encourage them to continue saving in order to provide an income when they retire. There is no official limit to the amount of funds that may be transferred to a QROPS: http://www.axis-finance.com/qrops-France-pension-transfers
QROPS - HMRC Rules
What makes a scheme a QROPS?
In order to transfer your UK pension into a QROPS, it is necessary for the overseas pension scheme to be accepted by HMRC. The criteria outlined by HMRC for an overseas scheme to qualify as a QROPS include:
- The pension scheme must be established outside of the UK
- It must be recognised for tax purposes in the country where it is located
- It must be regulated in the country in which it is established
Age that benefits can be taken from a QROPS
The QROPS regime mirrors that of a regulated pension scheme in the UK. Benefits, including lump sum payments, from the transferred funds may not be distributed earlier than the normal retirement age of 55, if an individual has been a non-UK resident for less than five complete tax years: http://www.axis-finance.com/qrops-living-in-France-HMRC-Rules
QROPS Reporting requirements
HMRC should be notified if a payment is made within the first five tax years of a member becoming non-UK tax resident. Any benefits paid before five complete tax years of non-UK residency and not in accordance with UK Pension rules will be deemed an unauthorised payment.
The scheme manager does not have to notify HMRC if the payment is made 10 or more years after the day of the transfer that created the QROPS fund for the \'relevant member\', provided that the person is non UK resident for the duration of this period. This 10 year \'bracket\' for reporting payments took effect as of 6 April 2012.
QROPS List
When transferring your UK pension to a scheme overseas, it is important to check that the scheme meets the conditions to be a qualifying recognised overseas pension scheme (QROPS). Not all transfers to overseas or offshore schemes are QROPS transfers; it is therefore essential to verify that the scheme receiving your UK benefits is on the QROPS list published by HMRC, otherwise a transfer will be treated as a transfer to a non-qualifying overseas scheme and substantial penalties may be applied by HMRC at the time of transfer: http://www.axis-finance.com/qrops-list-living-in-France
How do I know if it is a legitimate QROPS scheme?
QROPS approved plans that agree to have their details published are listed on the HMRC website. A UK Pension administrator will confirm a QROPS listing before agreeing to a transfer. If not listed, the administrator will contact HMRC
HANNOVER MESSE, which this year features 6,500 exhibitors from over 60 nations, is always a spring favorite of Europe’s top political leaders. Angela Merkel and Vladimir Putin are about to embark on a journey of discovery that will take in the latest developments in mobility, intelligent networked machines and even a modern-day horseless carriage.
Critical Missions: SWAT delivers the nostalgic fast paced FPS gaming experience on your iPad, iPhone and iPod Touch devices. Enjoy the smooth and customizable touch controls and play the cross-platform first-person shooter against other players on the web and on other mobile platforms.
CRITICAL MISSIONS: SWAT KEY FEATURES
- Cross-platform 3D First-Person Shooter MMO: beat PC/Mac players and players from other mobile platforms
- Multiplayer Mode: Local network and Servers Globally (USA, Europe and Asia)
- Single Player Mode: Player vs. Customizable Bots (Terrorists, Zombies)
- Smooth and Responsive Customizable Touch Controls (--> Game menu - Settings - User Interface - Edit HUD)
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- Customizable settings: player HP, player speed, zombie difficulty, ect.
- Dozens of pre-installed and downloadable unique maps
Under difficult economic conditions in Europe, in 2012 SPIE turned in a highly satisfactory financial performance featuring growth in turnover, a sustained pace of acquisitions and an improved profit margin.
The Group met all its performance targets in terms of margins and business volumes, cash and order intake. These results confirm the relevance of its business model and its strong market positioning.
To view Multimedia News Release, go to http://www.multivu.com/mnr/60649-SPIE-2012-results-targets-met
Marriott International, Inc. (NYSE: MAR) helps travelers ‘see the world’ by showcasing each of its four high-performing regions — The Americas, Asia Pacific, Europe and the Middle East and Africa — in its just-issued interactive 2012 Annual Report online at www.marriott.com/investor.
To view Multimedia News Release, go to http://www.multivu.com/mnr/54184-marriott-international-2012-annual-report-invitation-see-the-world-video
Cirque du Soleil and the Estate of Michael Jackson unveiled Michael Jackson ONETM today in Las Vegas, a new creation to take residency exclusively at Mandalay Bay Resort and Casino. Directed by Jamie King, Michael Jackson ONE will start its preview performances on May 23, 2013 and have its media premiere on June 29. This entirely new show is the second creative project to be developed between Cirque du Soleil and The Estate of Michael Jackson after the top grossing Michael Jackson THE IMMORTAL World Tour, currently playing arenas in Europe as it travels the world.
To view Multimedia News Release, go to http://www.multivu.com/mnr/61521-cirque-du-soleil-michael-jackson-one-at-mandalay-bay-resort-casino-vegas
Specialist travel company Black Tomato have crafted ‘Chic Weeks’, a collection of luxurious bespoke itineraries in collaboration with the Collection of Chic Outlet Shopping® Villages in Europe and PINCH magazine.
Chic Weeks; a series of specially commissioned films captures seven style-inspired journeys to some of Europe’s most fashionable shopping destinations, are available to view on the PINCH website. The films follow the footsteps of several style-savvy ambassadors as they enjoy their very own Chic Week. Enamoured of all things Italian, respected fashion journalist Kate Mulloy takes us on tour of Fidenza Village, near Milan, while London-based fashion photographers Chad & Paul travel to Barcelona to browse the boutiques of La Roca Village.
To view Multimedia News Release, go to http://www.multivu.com/mnr/60662-chic-outlet-shopping-pinch-magazine
Places in Paris attract many travelers from Europe, Asia and other parts of the world. Paris is packed with incredible destinations and world famous locations.
UBM Live, organisers of Safety & Health Expo, is celebrating another successful year for Europe’s market leading annual exhibition for the occupational health and safety industry. The 2013 show, held in May, saw a marked increase in attendee seniority with over 50% of all visitors occupying health and safety management positions alongside a 6% rise in those holding a director role within their organisation.
To view Multimedia News Release, go to http://www.multivu.com/mnr/62391-ubm-safety-health-expo-2013
Get ready, because Northeast Ohio is about to discover the Ooooo in Food!
Inspired by the open-air markets of Europe and a true passion for food, Giant Eagle, Inc. opens its first Market District food store in Northeast Ohio – a 94,000-square-foot culinary, dining and shopping destination – on Thursday, August 8, in the Solon Village Shopping Center.
To view the Multimedia News Release, go to http://www.multivu.com/mnr/62778-giant-eagle-market-district-opening-solon-ohio
