Frequently Asked Questions
When can I take my pension income?
Retirement benefits from a Gibraltar QROPS can be taken at any time after age 55. In the event of serious ill health or injury, you may be able to take your pension income earlier, at the discretion of the Trustees.
What happens if I decide to return to the UK?
If you have transferred your UK pension into a QROPS and after having resided abroad for the full 5 years, you unexpectedly decide to return to the UK, there is no requirement to transfer your QROPS back to a UK pension scheme. There are substantial advantages in keeping your QROPS. In these circumstances your QROPS would become subject to the rules for UK registered pension schemes, but you would only be taxed on 90% of your pension income.
Is there a breakdown of all the fees involved?
Yes, Abacus pride themselves on providing value to their clients and transparency on fees is integral to this. You can refer to our Fee Schedule on the “Switching Service” tab to see a complete list of our fees.