Qrops Scam – Why Should You Be Cautious

By Author: Peter Parker
Total Articles: 25
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Now days, a growing trend of fake ‘Wealth Managers’ and ‘Financial Planners’ are targeting unsuspecting pensioners and investors with dubious and fake QROPS scheme in order to get undue advantages which are illegitimate and totally fake. Hence, those who are pensioners and wish to relocate to another country, it is strongly advisable to lookout for such fake and fraudsters.

With the rate of annuities going down year after year and increasing tax burden on the pension funds, more and more UK pensioners and employees at the last leg of their employment are looking for options wherein they can easily relocate to a different country and enjoy the pension benefits at an improved interest rate with options of flexibility and income drawdown. However, care must be taken to ensure that only authorized and legal QROPS advisor handles your case. Illegal and fake wealth managers and financial planners should be avoided to ensure that your hard earned pension funds are safe and sound.

What is Qualifying Recognised Overseas Pensions Scheme or QROPS?

QROPS is a unique and powerful pension scheme ...
... in which the government of UK has permitted pensioners to invest their pension funds in a foreign location without having to buy out annuity. Hence, they can enjoy their pension funds, tax free, and at a location where the funds can yield better returns and more value. In short, if the pensioner wishes to stay in another country for 5 years, then he or she is not required to pay any tax.

However, this lucrative and attractive pension scheme is attracting lots of unscrupulous offshore pension sharks, who are deliberately and intentionally targeting such wealth pensioners and providing them bait to make them invest their hard earned money in some fake scheme and plans which has dangers of losing all the funds in one single go.

QROPS scheme was originally created and currently monitored by Her Majesty’s Revenue and Customs or HMRC department, which has created stringent rules to regulate this pension scheme and to make sure that no pensioner loses his or her pension funds while trying to save tax. However highly influential pension sharks are now gaining momentum against HMRC, and have already duped several thousand innocent pensioners of their life-long savings.

Crucial thing is to trust and believe only in qualified QROPS service providers, who are certified Financial Planners and Certified Financial Advisors who have a clean and neat record in managing pension funds under income drawdown scheme along with QROPS scheme. These genuine advisors and consultants are knowledgeable and expert in understanding your specific requirements and make sure that your pension funds are always safe and secured. Additionally, they can skilfully create a blueprint of your overall investment plans, and can guide you to achieve maximum returns.

GerardAssociates.co.uk is one such agency which provides expert, legal and useful consultation related to QROPS pension plans. Powered by an experienced team of certified financial planners and legal Advisors, they can take complete care of your pension funds and can help you to achieve your financial goals. Checkout http://www.gerardassociates.co.uk/ for more information related to QROPS.