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
The 2014 Subaru Forester is the first vehicle to ace every aspect of the challenging small overlap front crash test conducted by the Insurance Institute for Highway Safety (IIHS). The Forester, the only 1 of 13 small SUVs to earn an overall rating of good in the test, and the 2013 Mitsubishi Outlander Sport, which earns acceptable, are the latest vehicles to qualify for the Institute’s recently inaugurated top honor, TOP SAFETY PICK+. Each of the other 11 SUVs earns either a poor or marginal rating.
The latest small overlap front crash test results from the Insurance Institute for Highway Safety (IIHS) reveal a range of performance among many of the best-selling small cars in the U.S. market. Of the 12 models evaluated, half earn a good or acceptable rating and qualify for the IIHS TOP SAFETY PICK+ award.
The 2-door and 4-door models of the Honda Civic are the only small cars to earn the top rating of good in the test. IIHS evaluated the Civics earlier this year and released the results in March. The Dodge Dart, Ford Focus, Hyundai Elantra and 2014 model Scion tC earn acceptable ratings.
The Chevrolet Equinox and its twin, the GMC Terrain, are the only midsize SUVs out of nine evaluated to earn a good rating in the Insurance Institute for Highway Safety’s small overlap front crash test, which continues to challenge manufacturers more than a year and a half after its introduction.
The Equinox and the Terrain qualify for the Institute’s highest award for 2014, TOP SAFETY PICK+. The Toyota Highlander, a midsize SUV whose acceptable small overlap rating was announced in December, also qualifies. The award is given to vehicles with a good or acceptable small overlap rating, good ratings in four other occupant protection tests, and a rating of basic or higher for front crash prevention.
Three other midsize SUVs in the test group rate poor for small overlap protection, and three are marginal.
The aluminum-body 2015 Ford F-150 crew cab swept the Insurance Institute for Highway Safety’s full slate of crashworthiness evaluations to qualify for a 2015 TOP SAFETY PICK award. The F-150 extended cab turned in a good performance in 4 of 5 assessments but stumbled in the small overlap front test. The results are the first ratings for large pickups in a group the Institute is evaluating this year.
The F-150 crew cab, which Ford calls the SuperCrew, earns good ratings for occupant protection in all five IIHS crashworthiness evaluations — small overlap front, moderate overlap front, side, roof strength and head restraint evaluations. The extended cab, or SuperCab, earns good ratings in the moderate overlap front, side, roof strength and head restraint evaluations but just a marginal rating for occupant protection in a small overlap front crash.
Nearly 50 vehicles meet tougher criteria for 2016 to take home the Insurance Institute for Highway Safety’s TOP SAFETY PICK+ award, earning good ratings in all five IIHS crashworthiness evaluations and an advanced or higher rating for front crash prevention. An additional 13 models qualify for TOP SAFETY PICK.
The baseline requirements for both awards are good ratings in the small overlap front, moderate overlap front, side, roof strength and head restraint tests, as well as a standard or optional front crash prevention system. The 48 winners of the “plus” award have a superior- or advanced-rated front crash prevention system with automatic braking capabilities. These vehicles must stop or slow down without driver intervention before hitting a target in tests at 12 mph, 25 mph or both. Models with a basic-rated front crash prevention system, which typically only issues a warning and doesn’t brake, qualify for TOP SAFETY PICK.
IIHS inaugurated TOP SAFETY PICK in the 2006 model year to help consumers home in on vehicles with the best safety performance. The TOP SAFETY PICK+ accolade was introduced in 2012 to recognize vehicles that offer an advanced level of safety.
Three out of seven large pickup trucks evaluated by the Insurance Institute for Highway Safety in a new round of crash tests earn an acceptable or higher rating for occupant protection in a small overlap front crash.
IIHS evaluated two body styles of each 2016 model-year pickup — crew cab and extended cab. Crew cabs have four full doors and two full rows of seating. Extended cabs have two full front doors, two smaller rear doors and compact second-row seats.
IIHS last year decided it would test the two most popular variants of large pickups instead of just one after discovering that the Ford F-150 extended cab lacked structural countermeasures that helped the crew cab earn the top rating of good in the small overlap test. The test replicates what happens when a vehicle runs off the road and hits a tree or pole or clips another vehicle that has crossed the center line.
Ford improved the 2016 model F-150 SuperCab to clinch a good rating in the small overlap crash test, up from the 2015 model’s marginal rating. The F-150 is the only large pickup in the latest test group to earn the Institute’s top rating in the test. It joins the F-150 SuperCrew in earning a 2016 TOP SAFETY PICK award when equipped with Ford’s optional basic-rated forward collision warning system.
Vehicles that earn a basic rating for front crash prevention plus good ratings in the small overlap front, moderate overlap front, side, roof strength and head restraint evaluations qualify for TOP SAFETY PICK. To qualify for 2016 TOP SAFETY PICK+, a vehicle must earn good ratings in the five crashworthiness tests and an advanced or superior rating for front crash prevention.
Think “muscle car” performance, and images of speed and power are more likely to come to mind than crash tests and safety ratings. Because no one buys a sports car to drive in the slow lane, the best all-¬ around occupant crash protection is crucial. The Insurance Institute for Highway Safety (IIHS) recently put a trio of iconic sports coupes through their paces, and unlike more sedate sedans, none earns the scores needed to clinch a TOP SAFETY PICK award.
IIHS evaluated 2016 models of the Chevrolet Camaro, Dodge Challenger and Ford Mustang in the full battery of crashworthiness evaluations. The Mustang comes closest to earning TOP SAFETY PICK, while the Camaro falls shortin one category and lacks an available front crash prevention system. The Challenger is most in need of improvement.
To qualify for TOP SAFETY PICK, vehicles must earn good ratings in the small overlap front, moderate overlap front, side, roof strength and head restraint evaluations and have a basic-¬rated front crash prevention system. To qualify for the Institute’s highest award, TOP SAFETY PICK+, vehicles must earn good ratings in the five crashworthiness tests and an advanced or superior rating for front crash prevention.
Two all-electric vehicles fall short of meeting the Insurance Institute for Highway Safety’s awards criteria, but consumers who want to minimize gas consumption while also prioritizing safety can choose from two plug-in hybrids that earn the 2017 TOP SAFETY PICK+ award.
The two recently evaluated all-electric models are the 2017 Tesla Model S and the 2017 BMW i3. The plug-in hybrid models are the Chevrolet Volt, whose award was announced in December, and the Toyota Prius Prime.
To qualify for the 2017 TOP SAFETY PICK award, a vehicle must earn good ratings in all five crashworthiness evaluations — small overlap front, moderate overlap front, side, roof strength and head restraints — and come with a front crash prevention system that earns an advanced or superior rating. The “plus” is awarded to vehicles that meet all those criteria and also come with good or acceptable headlights.
Fancy hats, mint juleps and thoroughbred horses – the three main ingredients to one of the premier sporting events and celebrations in the country. As someone who always brings the fun wherever he goes, Captain Morgan is looking to shake up the festivities by making an unprecedented offer to enter a mule – yes, you read that right – in the elite horse race of the season.
Captain Morgan’s newest friend, the Morgan Mule – who is 1 part horse, 1 part donkey and 2 parts Captain – has always wanted to prove his racing chops. The exclusive competition is typically limited to 20, three-year-old thoroughbred horses who qualify based on a tiered point system from a series of races. But as an advocate of fun for all, Captain Morgan is promising that if the Morgan Mule is allowed to compete, he will donate $1 million to charity.
To view the multimedia release go to:
https://www.multivu.com/players/English/8093551-captain-morgan-mule/
The Lincoln Continental, the Mercedes-Benz E-Class and the Toyota Avalon come out at the top of a group of six large cars recently evaluated by the Insurance Institute for Highway Safety.
The three cars qualify for TOP SAFETY PICK+, the Institute’s highest award. The Tesla Model S, the Chevrolet Impala and the Ford Taurus fall short of any award because they each earn only an acceptable rating in the small overlap front test.
Vehicles qualify for either the TOP SAFETY PICK or TOP SAFETY PICK+ award if they have good ratings from IIHS in five crashworthiness tests — small overlap front, moderate overlap front, side, roof strength and head restraints — and an available front crash prevention system that earns a superior or advanced rating. To qualify for TOP SAFETY PICK+, a vehicle also must come with good or acceptable headlights
A new crash test program from the Insurance Institute for Highway Safety aims to ensure that manufacturers pay attention to the safety of front passengers as well as drivers.
The test was developed after it became clear that some manufacturers were giving short shrift to the right side of the vehicle when it comes to small overlap front crash protection. A good or acceptable passenger-side rating will be required to qualify for the Institute’s 2018 TOP SAFETY PICK+ award.
The first test group in the passenger-side small overlap front test program did better overall than vehicles IIHS previously evaluated for research. Ten out of 13 midsize cars tested earn a good rating, while one is acceptable and two earn a marginal rating.
In contrast with a group of 2014-16 model small SUVs tested for research, none of the 2017-18 midsize cars had a poor or marginal structural rating. Instead, the biggest problem in the new group was inconsistent airbag protection in five cars, which would put passengers’ heads at risk.
