CyprusLiving

Anybody any experience (good or bad) with transferring to a QROPS?

I know the supposed benefits but is it just another excuse for advisers to take part of your money?

Most advisers seem to be based in the less well regulated parts of the world. I can see that is where most expatriates probably are as well and that UK advisers are less likely to understand the international side of things but am I being too suspicious?

Any comments welcome.

O2B

QROPS have been around for just over 5 years now.
Initially I would argue that the fees charged by both the advisors and the providers were high and the schemes were perhaps only for the very wealthy.
As time has passed, competition has grown between providers and like in any maturing market environment the overall price has come down as have the minimum entry requirements.

If you are seriously looking at transfers your pension to a QROPS please do visit at least 2 firms, ask for a breakdown and transparency on all charges. If you're told the advice won't cost you a penny then please think twice about using that firm. Use an advice firm who is not tied to a one particular QROPS provider in one jurisdiction.

I hope that helps.