HMRC QROPS list
Published: 01 Jul 2015
There have been plenty of press reports recently regarding the suspension of the online ROPS list by HMRC on 17 June.
This decision was taken so that HMRC could evaluate pension trustee replies to a recent questionnaire, which asked Schemes to confirm that they continue to satisfy the conditions for the ‘pensions age test’ that only allows benefits to be paid out before the age of 55 in cases of ill-health
We are pleased to confirm that all of Momentum’s QROPS schemes are, as expected, featured on the newly issued list published today (1 July).
This means that once again it is business as usual as far as transfers into our Malta, Gibraltar and Isle of Man Schemes are concerned.
Published: 26 Jun 2017The UK Government’s reductions in the lifetime allowance from £1.5million to £1.25million in 2014/15 and subsequently from £1.25million to £1million in 2016/17 have limited the amount that savers can put into a private pension fund before the excess becomes subject to relatively high levels of tax.
Published: 16 Jun 2017The countdown for final salary or Defined Benefit (DB) schemes has been a long time coming as they are gradually replaced by Defined Contribution (DC) schemes. But the pace is picking up as the realisation grows that the economics behind DB schemes no longer stack up and they become too expensive to provide – posing a series of questions for anyone with this type of scheme.
Published: 09 Mar 2017Philip Hammond delivered his first full UK Budget speech on Wednesday 8th March 2017, and delivered significant news for the International Pensions industry. Full details of the specific measures can be found here, which will be analysed in detail by us.
Published: 25 Nov 2016A good financial adviser will pride him or herself on getting to know a client inside out, often over a period of many years. They will go that extra mile to find out all about their client, whether it’s the obvious, such as attitude to risk and understanding their retirement ambitions, or the less obvious, such as family background.