QROPS – QUALIFYING RECOGNISED OVERSEAS PENSION SCHEME
A pension scheme which is administered outside the UK and is registered with HMRC(Her Majesty’s Revenue & Customs), Tax Authority of UK. QROPS facilitates easy and convenient pension fund transfer from the United Kingdom.
You can opt for QROPS if you have accumulated a pension fund in the UK and wish to transfer the same to India, in a tax efficient retirement product registered as QROPS with HMRC
QROPS helps in following ways:
1. Tax Efficient transfer of your pension pot accumulated in the UK to India
2. Provides steady income for you post retirement in India
3. Allows your funds with a growth opportunity in India
To apply for QROPS transfer following criteria should be met:
1. You should have pension pot in UK
2. Your resident status should be Indian/PIO/OCI/NRI or Foreign national residing in India (This is subject to prevailing underwriting rules of HDFC Life at the time of initiating the transfer
We associate with Hdfc Life as their tied Financial Consultant for QROPS sourcing