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 G-Global info-communicative platform hosted an online conference on the 19th March on the theme “Draft Plan for overcoming long-term consequences of the global financial and economic crisis for UN Member States” in preparation for the second World Anti-Crisis Conference to be held in the Kazakhstan capital, Astana, on 21-23 May 2014. Mark Uzan, director of the Renovating Bretton Woods Committee, moderated the online-conference in which international and Kazakhstan experts participated. They reached agreement on a consolidated draft Plan for overcoming long-term consequences of the global financial and economic crisis for UN Member States (Plan) on which the international expert community has been actively working.
To view the Multimedia News Release, go to http://www.multivu.com/mnr/7140055-g-global-info-communicative-platform-draft-plan
In an unprecedented Food Network event, ten of the world’s most celebrated super chefs go to battle to become a member of the elite Iron Chef culinary society in a new eight-episode season of The Next Iron Chef: Super Chefs, premiering Sunday, October 30th at 9pm ET/PT. Hosted by Alton Brown and shot in Los Angeles and New York, the fourth season of the series amps up the competition to meet the elevated skills of these supreme experts - challenging their kitchen chops, mental toughness and masterful instincts.
To view Multimedia News Release, go to http://www.multivu.com/players/English/46439-food-network-next-iron-chef/
Today Zagat Survey, LLC, the world’s first provider of user-generated restaurant information, rolled out a totally new website with extensive free features. The completely rebuilt site offers the most powerful restaurant search tools available, along with expanded free content and increased recognition of member contributions.
To view Multimedia News Release, go to http://multivu.prnewswire.com/mnr/zagat/48730/
PNC Bank, a member of The PNC Financial Services Group, Inc. (NYSE: PNC) today announced new checking accounts and credit cards along with other changes that emphasize more choices and rewards for customers.
Ever dreamt of taking on a Ryder Cup legend? VisitScotland is offering golf fans the chance to play a round with Scotland’s Sam Torrance at the new home of the Scottish Open.
The Ryder Cup legend was a member of first European team to achieve success on American soil, in 1987. VisitScotland is now offering the chance for one lucky winner to take on the Scot in his own country.
To view Multimedia News Release, go to
Travel expert Michelle Yarn shares tips from lodging and packing to crowd-pleasing activities for families to help make summer travel easier and more enjoyable for every member of the family.
Ticketmaster, the global market leader in ticketing, today announced an extended multiyear partnership with Orlando City Soccer Club, home of Orlando City in Major League Soccer and Orlando Pride in the National Women’s Soccer league, to serve as the official ticketing and technology partner for all live events at Orlando City Stadium. Following the venue’s successful opening earlier this year utilizing Ticketmaster Presence and digital ticketing, the stadium will soon roll out Ticketmaster’s easy-to-use “tap and go” venue entry system through the renewed agreement that will further enhance the club’s fan experience.
Since implementing Ticketmaster Presence in March 2017, Orlando City SC has moved to a fully digital ticketing system with great success. In a matter of months, the club saw a six-fold increase in mobile entry, with 65% of fans now using mobile, and the remaining 35% utilizing NFC-enabled paper smart tickets or season ticket member cards. Digital tickets have provided Orlando City SC with unparalleled understanding of event attendees after seeing a 398% increase in new fan identification.
To view the multimedia release go to:
https://www.multivu.com/players/English/8227551-ticketmaster-orlando-city-soccer-club/
A recent survey conducted by DSM Nutritional Products found that 83 percent of adults in the U.S. believe worsening eye health is inevitable with age. What many people don’t realize is that there’s a connection between healthy eyes and proper nutrition, and it goes beyond eating carrots.
According to Dr. Kimberly Reed, optometrist and Ocular Nutrition Society board member, “Incorporating certain nutrients into the diet can support a lifetime of healthy vision and help protect against serious conditions, including cataracts and age-related macular degeneration (AMD). The latter affects more than 2 million Americans and can lead to severe visual impairment.”
To view Multmedia News Release, go to: http://www.multivu.com/players/English/7129751-dsm-nutritional-products-eye-health-survey/
Seeking to support men and their loved ones facing the challenges that come with a diagnosis of prostate cancer, USA Rugby, the Australian Rugby Union and Astellas Pharma have partnered to launch the #pass4prostate challenge, a social media campaign designed to generate awareness of prostate cancer and support a donation of up to $125,000 from Astellas to four research and advocacy organizations: Prostate Cancer Foundation, Australia Prostate Cancer Research, Prostate Cancer Foundation Australia and Prostate Cancer Canada.
From August 5 through the end of September – Prostate Cancer Awareness Month – social media users are encouraged to record a video of themselves catching an inanimate object, mentioning why prostate cancer awareness is important to them, and then passing that object, rugby-style, symbolically to a friend or family member. Astellas will donate $5 to prostate cancer advocacy organizations for every qualifying submission with the #pass4prostate hashtag posted to Facebook, Twitter or Instagram, up to a maximum contribution of $125,000.
To view the multimedia release visit:
http://www.multivu.com/players/English/7579051-pass4prostate-challenge-rugby-astellas/
Since 1984, the National Insurance Crime Bureau (NICB) has published annual reports—known today as Hot Spots—that examine vehicle theft at the national and local level. NICB was originally established in 1912 as the Automobile Protective and Information Bureau and the company focused exclusively on recovering stolen motor vehicles that were insured by its 11 member insurance companies.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/70506511-nicb-national-insurance-crime-bureau-annual-vehicle-theft-hot-spots-report/
Clayton home building group, a national home builder and Manufactured Housing Institute’s 2017 Manufacturer of the Year, today unveiled its newest home building facility in Athens, Texas designed to transform industry standards with focus on team member experience, sustainability and innovation.
After listening to the needs and wants of Clayton team members through an in-depth survey, the company analyzed how best to support their team members throughout the off-site construction process in their home building facilities. The response was a 160,000-plus square foot facility that has since surpassed those needs, which started with simply making team member jobs easier and more enjoyable.
To view the multimedia release go to:
https://www.multivu.com/players/English/8011657-clayton-home-building-facility-athens-texas/
