Mis-selling warning for advisers on overseas pension transfers

Geraint Davies, who helped HMRC on the A-Day launch of QROPS, believes only a handful of advisers have enough experience to advise on these highly complex products which require knowledge of both the UK tax system and the jurisdiction where benefits will be received. He believes advisers are in a no win situation: “To treat customers fairly, advisers have to consider QROPS as a retirement planning vehicle each and every time they conduct a retirement planning consultation or client review. “With more and more clients expressing an interest in living, now or in the future, outside the UK...