British Steel Pension Scheme – major changes
In August this year, The Pensions Regulator (TPR) in the UK gave approval to a type of restructure (known as a Regulated Apportionment Arrangement or RAA) of the British Steel Pension Scheme (BSPS), based on a proposal from Tata Steel UK (TSUK), to help prevent the company becoming insolvent.
This necessary restructure affected the estimated 130,000 members of the BSPS and left them with a choice to make regarding their pension benefits in the BSPS.
Managing your pension funds before transferring to a QROPS?
Plan your pension early.
When it comes to pensions transfers, a QROPS (Qualifying Overseas Pension Scheme) is sometimes the perfect option., However, this option is only available in the right circumstances. If you are looking to transfer your UK pensions to Australia (for example), you are not allowed to transfer pension funds into a QROPS in Australia until you reach the age of 55.
In circumstances where your UK pension funds are remRead more
How much do I need to transfer into QROPS SMSF?
Considering a QROPS SMSF?
If you are considering putting your money into a Qualifying Recognised Overseas Pension Scheme (QROPS) such as a Self-Managed Super Fund (SMSF), it is important to understand how much to transfer to gain the most benefit. This article examines what a QROPS SMSF is, what the benefits of such a scheme are, and how much you should be transferring.Read more
What happens to my pension if I return to the UK?
Although it is a good idea to plan for the future, no one can ever be one hundred per cent certain that everything in life will go according to plan. So, if you decide to make a pension transfer out of the UK and into a QROPS, you still have the option to transfer back to the UK in the future.Read more