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
Most of your behavior, good or bad, is determined from the experiences you had from the time you were conceived to the time you became 12 years old.
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There's nothing like a good office fight between colleagues. Somehow, an employee gets fed up with another person working at a group computer desk. Hitting a breaking point, a guy leaps out of his chair, breaks all kinds of computer, monitors and keyboards to get his mitts on a guy he wants to choke out. If u look carfully the guy on the right keeps chucking things at the guy on the left. Get ready to laugh and..(bing!) lets get it on!!! If your still bored, check out/add my profile/videos if you like 'fails' or are into that sort of thing.
There’s no doubt about it: having balanced nutrition is a primary key to achieving and maintaining overall health. Healthy eating keeps the body running properly and can prevent a multitude of ills from heart disease and obesity to certain types of cancers. With all the noise out there regarding healthy eating, it can overwhelm even the most diligent person from creating a plan that works.
Registered dietician and best-selling author Frances Largeman-Roth has made a career of helping people transform their eating habits and kitchens. She understands how to help instill changes that work in any household.
A recent survey conducted by Harris Poll on behalf of the newly-formed Coalition to Prevent Attention-Deficit/Hyperactivity Disorder (ADHD) Medication Misuse (CPAMM) finds that college students’ perceptions and attitudes towards the misuse, abuse and diversion of ADHD prescription stimulants are complex. The findings paint a portrait of students who recognize the risks of misuse, but understand why some students may choose to misuse, given the academic pressures in today’s college environment. CPAMM intends to use the findings to inform and develop educational campaigns to help prevent nonmedical use of ADHD prescription stimulants. The survey was conducted online between May 15 and June 11, 2014 among 2,056 US college students (full-time, 91%, part-time, 9%), defined as adults aged 18 to 24 enrolled and seeking a degree at a 4-year college or university and attending at least some in-person classes.1
To view the Multimedia News Release, go to http://www.multivu.com/players/English/7373051-cpamm-survey-reveals-college-students-adhd-prescription-stimulant-abuse-misuse-and-diversion/
Today at the 10th Annual Meeting of the Clinton Global Initiative (CGI) in New York City, the Ad Council in partnership with Year Up, the Employment Pathways Project, ConPRmetidos, MENTOR: The National Mentoring Partnership, New Options Project, and Opportunity Nation launched the national “Grads of Life” campaign to help businesses fill more than 4 million vacant positions within the United States with qualified workers. The launch took place during CGI’s inaugural in-person meeting of the new Youth Employment Action Network attended by both business and non-profit leaders.
Secretary Hillary Clinton shared a message in support of the launch: “As we continue the work of Job One at The Clinton Foundation, we need to continue to build partnerships and to recruit more businesses to solve this important economic challenge. The Grads of Life PSA campaign is the first effort to drive employer demand for the millions of low-income young adults that are a huge source of untapped talent in our country and through GradsofLife.org employers can now access the first-ever online platform for the information, tools, and resources they need to take action today. I am asking employers, educators, non-profits, community leaders to join me and the Grads of Life campaign in this bold agenda to grow our economy and to create new opportunities for tomorrow’s leaders.”
To view the Multimedia News Release, go to: http://www.multivu.com/players/English/7328451-new-grads-of-life-campaign-launched-to-bridge-the-gap-between-employers-and-opportunity-youth/
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BBC Radio 2 DJ Sara Cox and James Bond actor Colin Salmon have pledged their support for Christmas in a Box a new fundraising campaign for End Youth Homelessness (EYH), a movement of charities supporting vulnerable young people across the UK.
An estimated 15,000 young people will face homelessness this Christmas across the UK. Christmas in a Box will enable visitors to Dune London’s website and stores across the UK to give a young person the gift of a better Christmas with an EYH charity.
To view the Multimedia News Release, go to: http://www.multivu.com/players/English/7403451-christmas-end-youth-homelessness/
