The deVere Group announces plans to offer a new class of trust – QNUPS; the latest in pension planning for expats
The deVere Group has reinforced its progressive position within the pensions market and has announced, that in line with the regulations brought in force by the UK HM Revenue & Customs (HMRC) statutory on the 15th February 2010, they will be offering an additional new class of trust recognised as a Qualifying Non-UK Pension Schemes (QNUPS) to better enhance pensions benefits for their clients.
Pension schemes and effective retirement planning are essential for the rising number of people who choose to relocate or retire abroad. In recent years, Qualifying recognised Offshore Pension Schemes (QROPS) enabled investors to transfer their frozen UK pensions overseas, and now the introduction of QNUPS promises another potential tax efficient way to save for retirement. These new schemes will benefit from a UK inheritance tax exemption in respect of UK tax-relieved funds that have been transferred to the QNUPS and will offer expatriates the option to continually pay money into a scheme once they have retired abroad, something that they were not entitled to with a QROPS.
“The expatriate market is our primary area of focus and it is important that we continue to find new opportunities that will help our British clients become more tax efficient on local taxes in the countries where they are tax resident and UK inheritance tax (IHT) when they decide to retire abroad” commented Nigel Green, CEO of the deVere Group. “We are excited to be at the forefront of this industry and believe that these Qualifying Non-UK Pension Schemes (QNUPS) will provide many new benefits for people who live overseas”.
The deVere Group, a member of the Chartered Institute for Securities & Investment (CISI) recently set the pace as the world’s leading independent consultant on QROPS with close to £100 million under advice on offshore pension schemes, representing nearly a quarter of all UK transfers to offshore pension schemes in recent years.
To find out more about this additional new class of trusts known as Qualifying Non-UK Pension Schemes (QNUPS), please visit our website https://www.devere-group.com/qnups/qnups.aspx
About the deVere Group
The deVere Group is the world’s largest independent international financial consultancy group. International investors and expatriates employ us to find financial services products that suit their medium to long term requirements for investments, savings and pensions. With in excess of US$7 billion of funds under administration and management, deVere has more than fifty thousand clients in over a hundred countries. Our independence and ability to offer financial products that are tailor-made to fit an individual’s needs are behind our success. As a result we now have offices in over forty countries. You can find us in Abu Dhabi, Brussels, Dubai, Geneva, Hong Kong, Johannesburg, London, Mexico, Moscow, Oman, Shanghai, Tokyo and Zurich, amongst others. Please visit http://www.devere-group.com for more information about the deVere Group.
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