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Expat financial advice from the experts

Pension Transfer Canada – QROPS

pension transfer canada

Living or retiring in Canada?

Want to consolidate your UK pensions with a UK Pension Transfer Canada?

Whether you are migrating from the UK to Canada or are a Canadian Expat returning home, a British Pension Transfer Canada will help you achieve a superior income throughout retirement.

QROPS (Qualifying Recognised Overseas Pension Schemes) permit for the transfer and consolidation of all UK pensions (inc frozen UK pensions) into a personal pension in Canada.

Preferable tax treatment is a key advantage. Your dreams of a relaxed retirement in Canada could soon fade away if you and your partner are forced to work around UK pension rules.

The most important advantage is flexibility in accessing your money. At 55, you can withdraw regular payments and receive 25% of the assets as a lump sum. Also, unlike the UK, should anything happen to you, your spouse and beneficiaries will receive 100% of the remaining assets.

Your pension is likely to be your second largest asset after your house, but do you really know what it is actually invested in? What its performance was last year? What charges are eating into your pot?

Consolidation also grants greater control of your retirement funds, increasing your buying power to seek the very best returns in the market. Plus, numerous pension pots means duplicate charges and excessive amounts of paperwork.

Finally, with a booming economy retiree’s living in Canada on UK pension payments leave themselves open to exchange rate fluctuations which could see their retirement income fall. With a UK Pension Transfer Canada, you can lock-in a guaranteed income in your retirement.

Click here to learn more about Harrison Brook’s simple English Pension Transfer Canada service.

Benefits of Pension Transfer Canada

  • No 55% tax charge for beneficiaries
  • Consolidation (performance, charges, admin)
  • No annuity purchase necessary
  • QROPS can provide for your family, it is possible to use up to 100% of the fund to provide a spouses pension
  • 100% of pension pot left for beneficiaries (not possible in the UK)
  • The broader range of investments to choose from
  • Tax-free lump sum
  • Receive pension income free from UK income tax (QROPS)
  • Low cost charging structures

pension transfer Canada

What to consider before choosing a UK Pension Transfer Canada?

  • Residency considerations: do you expect to return to the UK to retire or for long periods of time in the future?

pension transfer Canada

Existing pension arrangements:

  • Is your current pension plans worth less than £75,000?
  • Are you current pensions defined benefit schemes?
  • Do your existing schemes include benefits such as spouse’s pension, life cover and competitive charges?

Harrison Brook – Helping you make the best choice

UK pension transfers are a growing market and numerous QROPS providers are appearing regularly.

Talk to a Harrison Brook Financial Adviser to ensure that you choose the most appropriate jurisdiction and provider for your British Pension Transfer Canada and that your QROPS investment portfolio is accurately matched with your risk profile and growth expectations.

Why choose Harrison Brook for your UK Pension Transfer Canada?

  • QROP structures available depending on your situation
  • We offer discounted QROP fee structures through our online advice system – we pass the savings onto you
  • If you prefer to meet an adviser on a face to face basis this can also be arranged
  • UK qualified Adviser
  • Ongoing advice and management – Quarterly investment reviews
  • No restrictions on client location
  • Access to institutional high rate deposit accounts and structured fixed return products
  • Access to funds that have been handpicked by investment specialists in model portfolios which can be structured for capital growth, income generation or both

How do you get started and take the first step?

To get your latest pension valuations and learn more about Pension Transfer New Zealand with a UK Qualified Adviser (including benefits and if a QROP is the best solution for your pension planning) click here for a free, no obligation, personal financial analysis.

You can also request a free guide to UK Pension Transfers Canada by Contacting Us.

See how Harrison Brook's Financial Advisers can help

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