Boal & Co launches new QROPS trust facility

Commenting on the launch, Managing Director Gary Boal explained: “One of the many benefits of QROPS (overseas pension transfer schemes) compared with UK pensions is the ability to bestow a pension fund on death.  Scheme members who retire abroad are not subject to the 55% UK tax charge which applies to members with UK pension schemes." According to Boal “Member payment charges”, including the 55% special lump sum death benefits charge, are not applicable to members of QROPS schemes unless the member is UK-resident at the time of payment, or has been UK-resident in any of the 5 complete t...