UK Pension Funds to India (QROPS)

04/12/2025

03/01/2023

Transfer Your Pension Funds to India thru UK Pension Funds to India (QROPS) offering by Hdfc Life...

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03/01/2023

Hi everyone! Good Noon.
If you have any leads in US Pentioner please inform me.
We are ready to TRANSFER PENTION FUNDS TO INDIA.

03/01/2023

Transfer Your Pension Funds to India thru UK Pension Funds to India (QROPS) offering by Hdfc Life...
We Serve you Better.

Transfer Your Pension Funds to India thru UK Pension Funds to India (QROPS) offering by Hdfc Life...

We Serve you Better.

08/06/2022

Exide Life Insurance brings a great opportunity for you to transfer your UK pension fund into 'Exide Life Smart Pension Plan' which is listed as QROPS.

QROPS stands for Qualifying Recognized Overseas pension Scheme
Any Individual enrolled with a UK pension scheme who either now lives overseas as an expatriate or is planning to leave UK over the next 12 months can now transfer his / her existing pension provisions into a Qualifying Recognized Overseas Pensions Scheme (QROPS).

• In order to receive QROPS status, the scheme must be recognized as a pension scheme and should meet the rules of the jurisdiction that it is situated.
• The scheme must be recognized and meet the Her Majesty's Customs & Revenue (HMRC) rules in the UK relating to how and when benefits can be taken, along with defined reporting requirements prior to the member becoming non UK tax resident.
• The qualifying scheme must be outside the UK.
• At least 70% of the funds transferred must be used to provide the individual member with an income for life.
• The scheme provider must inform HMRC if any payment is made within five years of the member leaving the UK and becoming non UK resident.

31/05/2022

QROPS stands for Qualifying Recognized Overseas pension Scheme
Any Individual enrolled with a UK pension scheme who either now lives overseas as an expatriate or is planning to leave UK over the next 12 months can now transfer his / her existing pension provisions into a Qualifying Recognized Overseas Pensions Scheme (QROPS).

• In order to receive QROPS status, the scheme must be recognized as a pension scheme and should meet the rules of the jurisdiction that it is situated.

• The scheme must be recognised and meet the Her Majesty's Customs & Revenue (HMRC) rules in the UK relating to how and when benefits can be taken, along with defined reporting requirements prior to the member becoming non UK tax resident.

• The qualifying scheme must be outside the UK.

• At least 70% of the funds transferred must be used to provide the individual member with an income for life.

• The scheme provider must inform HMRC if any payment is made within five years of the member leaving the UK and becoming non UK resident.

31/05/2022

Why Transfer?
Any Indian who has either come back or is planning to return to India from UK can now transfer their accumulated pension funds into Exide Life Smart Pension Plan that comes with certain key advantages.

Advantage 1
You can take your UK pension income in Indian currency. Emerging markets like India tend to offer better returns than those offered by developed markets*.

Advantage 2
In case of death, the unused corpus in Exide Life Smart Pension Plan will be transferred to your beneficiaries Tax Free**.

Advantage 3
You can withdraw 33% of the accumulated funds as tax free** Lump Sum on the vesting date.

Advantage 4
Exide Life Smart Pension Plan offers an exciting growth opportunity in the pension space where growth is not restricted to continuance of the contribution.

Advantage 5
Average gross returns on Exide Life Smart Pension Plan has been between 8-9%*** since inception of the plan.

31/05/2022

Exide Life Smart Pension Plan
A Unit Linked Non-Participating Individual Pension Plan

Exide Life Smart Pension Plan provides life insurance and helps you to save along your working years and build a retirement corpus to prepare for your retirement. You will need to choose a target vesting date, premium payment term and fund options according to the number of years you expect to save and your risk appetite. On the date of vesting, you may utilize your retirement corpus to get regular annuity/pension payments or alternatively take part of it as lump sum.

A host of flexibilities to alter target vesting date, premium payment term, fund proportions and encashment options (subject to conditions) allow you to further customize the plan along your retirement journey.

Key Reasons to buy this Plan
>> Life insurance cover to the extent of 105% of all premiums paid including top-up premium

>> To build a retirement corpus

>> Flexibility to alter vesting date and premium payment term

>> Loyalty additions*

*Loyalty addition would be added to the fund starting from 10th policy anniversary for the other than ‘Single Premium’ policies paying annualized premium of ` 1,00,000 at least and for all the Single Premium paying policies.

31/05/2022

FAQs

Q. How are QROPS structured?
The local jurisdiction will set out how the QROPS is structured. However, most QROPS are structured in a similar way to UK pensions, i.e. a pension administrator (Pension provider) manages the pension fund on the client's behalf, and must be based outside the UK.

Q. Why should I choose EXIDE Life as my QROPS?
EXIDE Life Insurance offers a unique plan "New Best Years" which has been approved as a QROPS scheme by the HMRC in the UK (http://www.hmrc.gov.uk/pensionschemes/qrops.pdf). The plan gives you freedom of contribution selection and flexibility in payment options.

Q. What types of pension can be transferred to a QROPS?
Any UK registered pension schemes are acceptable, as long as the terms of the said schemes permit transfer and the receiving QROPS provider is willing to accept it.

Q. Can I transfer more than one pension into a QROPS?
Yes, you are able to consolidate/transfer any number of pension holdings into one QROPS. This can reduce cost, administrative burden and create scope for improved investment management.

Q. Who can move their pension into a QROPS?
Any NRI/PIO who has a UK registered pension scheme or any Indian who has some accumulations into UK pension scheme.

Q. What is the minimum amount that can be transferred into a QROPS?
It appears that there is is no minimum amount as per pension regulations in the UK. However you are advised to check with your pension scheme administrator in the UK on the same and the tax implications if any.

Q. What about taxation of QROPS?
The one third amounts from the corpus can be withdrawn as a tax free income and rest of the amount has to be used to purchase an annuity. Apart from choosing an annuity product with us, you also have the option to choose annuity product from other life insurers in India at the time of vesting age. Annuity will be added into your income and will be taxed accordingly. Please note that tax benefits are subject to change from time to time. You are advised to consult a tax practitioner to understand the tax implications at the time of transfer to the QROPS.

31/05/2022

Transfer UK Pension Fund to India - Exide Life Smart Pension Plan.

Now transfer your UK pension fund into India

Exide Life Insurance brings a great opportunity for you to transfer your UK pension fund into 'Exide Life Smart Pension Plan' which is listed as QROPS.

QROPS stands for Qualifying Recognized Overseas Pension Scheme that is recognized by HMRC (Her Majesty’s Revenue & Customs department) in the United Kingdom.

Our designated QROPS team will assist you in the journey of transferring your funds into Exide Life Smart Pension Plan.

Transferring your UK Pension fund to Exide Life Insurance (INDIA) comes with advantages.
Advantages with Pension Transfer into India –
P Funds transferred into India likely to give better returns in emerging markets (India) than developed markets (UK).
P Upon death, the entire corpus is paid to beneficiaries tax free, while in UK beneficiaries may face huge Inheritance Tax (IHT)
P Option to take pension income in INR or in Foreign Currency of choice
P Option to withdraw Tax-Free lump sum of up to 30% of accumulated funds on vesting after 55 years age.
P Option to take a guaranteed Pension for Life on the remaining corpus after Age 55 onwards at higher rates in India