Gibraltar QROPS
A QROPS (Qualifying Recognised Overseas Pension Scheme) is a pension scheme established in a jurisdiction outside the UK that satisfies rules and regulations laid down by UK legislation (and has notified HMRC that it fits such criteria) in order to be able to receive transfers of UK registered pension schemes as authorised transfer payments.
The Trafalgar Pension Scheme (Trafalgar) is a personal pension scheme established under trust and tax approved in Gibraltar.
If you are a UK expat individual who is tax resident within an EEA country and have UK pension schemes from former employment or otherwise, Trafalgar may be the solution for you.
Trafalgar Key Features:
- Tailored Pension Payments: a range of payment levels calculated by our actuaries and personalised to your situation, taking into account how your fund is invested
- Succession Planning: Trafalgar can be used to provide a taxable pension income for a spouse or dependent and/or can pay out as a lump sum distribution on death with no Gibraltar tax due at source
- Increased Retirement Lump Sum: Trafalgar enables you to take a lump sum of up to 30% of fund value once certain criteria are met
- Pensions Paid Free of UK Tax: Trafalgar pension income payments are only subject to 2.5% Gibraltar Tax at source (tax may be due upon receipt in your country of residence)
- Investment Choice: ability to appoint an investment manager and access to a wide range of collective investment funds, held either directly or through investment wrappers
Trafalgar is listed with the UK tax authority HMRC Revenue & Customs as a QROPS, and is a qualifying jurisdiction for the purposes of the exemption from the UK Overseas Transfer Charge where the individual member is an EEA tax resident individual, meaning that the transfer of your UK pension schemes can be made without incurring any UK tax.
