Transfer process

Detailed needs analysis

At the start of the process, your QROPS advisor will conduct a detailed needs analysis and assess your circumstances and requirements. You will need to sign a Letter of Authority so that your advisor can get detailed information about your pension on your behalf. (This does not bind you to any transfer but merely requests information required to make an informed decision.)

Choosing a QROPS

Your QROPS advisor will take your situation into account and advise you on which QROPS is best for you. Remember to make sure that you only apply for a QROPS that is approved by HMRC.

Discharge and application forms

If transferring to a QROPS is feasible and if you believe that it will benefit you, your QROPS advisor will send:

  • a discharge form to the company that currently administers your pension
  • an application form to your chosen QROPS provider.

How long it takes

It should take around two to three months to transfer your pension to a registered QROPS scheme.

Your changed tax status

Remember, to be eligible to apply for QROPS, you must currently reside outside of the UK, or be able to show intent to leave the UK within 12 months.