qrops punjab2

QROPS PUNJAB

What is QROPS Punjab?• A QROPS is a Qualifying Recognized Overseas Pension Scheme

which is listed with Her Majesty’s Revenues and Customs (HMRC), UK.• A QROPS is special scheme that allows you to move your

savings from UK based pension funds to an authorized pension scheme in a foreign country.

Eligibility:

• Any Indian who has contributed to a pension fund (other than National Insurance Contributions) in UK and has either moved or is

planning to relocate outside of UK.• Only non active pension funds can be transferred.• Ideally suited for Indians who are returning to India for a long term.

Landsmiths projects Pvt LtdPh : 0712 - 4648675 Mob : +91 98150-48888

QROPS Punjab• QROPS Punjab provide a comprehensive service for

clients wishing to transfer their UK pension to a Qualifying Recognized Overseas Pension Scheme (QROPS).

• Since the inception of QROPS, hundreds of schemes have been set up in various jurisdictions all around the world. It is important to receive the proper advice from QROPS Punjab in order to protect your future income stream. Each jurisdiction has slightly different tax structures, estate planning issues and drawdown methods. It is important to seek out QROPS Punjab to maximize the benefits from your pension.

• Our advisers will make sure you receive clear, concise advice so that you can make an informed decision about whether to transfer your hard earned pension into a QROPS. It is our job to simplify the process for you.Landsmiths projects Pvt Ltd

Ph : 0712 - 4648675 Mob : +91 98150-48888

4 Why Qrops & What is in it for you?1. This scheme is much suitable for any UK Expats residing in UK would want to transfer their

pension for more benefits compare to UK Private pension and its also suitable for the people who have intention to move out of UK or moved already to different part of the world.

2. This scheme works for the people who have the contribution on UK private pension. 3. Possibility in keeping the pension corpus in the strongest currency value in the market. The

pensioner has full freedom to invest his funds with QROPS approved scheme.4. Fund growth will be monitored by our team of professionals and timely financial advice and

regular updates on fund performance intimated to the pensioner.5. The benefits of UK pension can be availed only at the age of 55 and the same applies when

it is transferred to offshore QROPS. But the growth in offshore is 250% more compared to UK pension companies.

6. If you have a private pension which you want to transfer to offshore, which will become free from UK inheritance tax law (IHT) on death and survival.

7. Huge gains can be made on proper Inheritance Tax Planning (IHT) with a correctly setup QROPS Pension Transfer.

8. Main advantages of this scheme are whole pension amount will be tax free on death, and can also withdraw lump sum of up to 30% of the total pension fund.

9. This scheme is the provision to transfer of all of the pensioner’s unused funds to their beneficiaries free of tax where in UK any uncertainty happens to the pensioner before the age of 75, he would probably have a 35% tax charge before he can pass on the proceeds to his beneficiaries, but incase the uncertainty happens after 75 he would probably have an 82% tax charge!

10. Clients can withdraw income from his pension in a more tax-efficient manner and in his own choice of currency.


Who can buy QROPS?


Features :• Age should be above 18 years• Contribution should be more than 2 years OR min of 30000 GBP• Any nationality• Anywhere from the world• If you want to multiple your Pension Corpus rapidly• Who is expecting Guarantee return of more than 8%• Who wants to keep their funds in USD or their preferred currency• If you want to be free out of Inheritance tax (IHT)• Anyone wants their 30 % TAX FREE lump sum of pension corpus• Who would want to keep their beneficiaries/dependent happy even after retirement• Would like to follow the same lifestyle after retirement

Benefit from a Growing Indian economyExpected Annual Returns on your pension fund in UK are in the

range of2% - 4% only.

India offers you better earning opportunity than the UKmarket may offer

* Source – http://uk.deposits.org/;** Source - http://www.moneycontrol.com/fixed-income/banks-deposits

S. No Country Name Deposit Rate- Term Deposits1 United Kingdom 1.60%*2 United States 1.05%3 Australia 4.20%4 India 9.04%*

*5 South Africa 5.89%6 Chin

a3.30%


http://uk.deposits.org/















http://www.moneycontrol.com/fixed-income/banks-deposits/











































Benefit from our experience in managingQROPS1.• Exide Life Insurance is an established player serving

over 1 million customers in India for 12 years.2.• The company has demonstrated a good track record in

managing retirement and pension products.• Has delivered consistent returns by declaring an

average bonus of 9.66%over the last 6 years.

3.

4.• Experience in managing a retirement

corpus of pension schemes.INR 1000 cr. under

its

5. • Managing QROPS based portfolio for over 1000 High Net worth Individuals.


QROPS Advantages1.

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• Payments must be taxable in the same way for residents and non residents – except where there is a DTA in place.

• Should a member live in a country with a DTA, income is taxable only in the country where the member is resident.

• Scheme to provide reports as required to HMRC to maintain QROPS status.

Benefits test & Reporting


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• QROPS gives you more return than any SIPP• QROPS is the only gateway to move your promising money to keep safe and make grow• QROPS makes your retirement comfortable than UK pension house for sure!• You can avail your pension anywhere in the world• Your children higher education can be taken care from QROPS when its required

What are the advantages of QROPS?


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• The investment choice will normally be very wide indeed. Under certain circumstances you can manage the assets yourself with total freedom, or work with an investment manager / financial adviser.

• You may also appoint an investment manager to make the decisions for you or with you. It really depends what you are looking to achieve and how involved you would like to be with the investment decisions.

What investment choice and freedom will I have with a QROPS?


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QROPS-THE BENEFITSFINANCIAL

Potential to avoid the 55%1 uk tax charge on deathPotential to save between 20% and 45% tax on pension incomeUp to 30% pension commencement lump sumEliminate the lta (lifetime allowance)

FLEXIBILITY Greater control over where

the pension fund is invested

Ability to influence the investment strategy for the pension fund

Pension fund can be passed to beneficiaries on death

Simplicity numerous

pensions can be consolidated into one qrops

Choice of currency options to help mitigate exchange rate risk


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QROPS Other key benefits to customers• 100% of the pension fund can be left to a

pensioner’s beneficiary free from inheritance tax law( IHT).• A pensioner is offered a wider range of investments to choose from• A pensioner can take lump sum up to 30% as Tax free.• A pensioner doesn't need to purchase any kind of annuity.• A pensioner receive his pension free from UK income tax.• A pensioner is charged low cost for charging structure.


Getting Started With QROPS

Step 1

1. Customer agrees to transfer funds from UK to Exide Life Golden Years and initiate his new policy.

2. “Request & Authority Letter (RAL)” and “Declaration Form” is signed by the customer. Declaration form to be submitted at the time of login of base policy as it will form a part of the policy document.

Step 2

1. Request and authority letter to be dispatched to QROPS team at HO2. Exide Life Insurance sends the “RAL” to the UK pension provider.3. UK pensioner sends the fund accumulation value and discharge forms, for

signatures from customer and by us.

Step 3

1. Complete form is filled up and signed by customer and Exide Life Insurance.

2. Complete docket with all the necessary documents are sent back to UK pension provider.

Step 41. UK pension provider transfers the final value to customer’s Exide Life

Golden Years policy.


Process Note for QROPS Proposal of Exide Life Golden Years to be logged as per normal process. All modes Single /

Limited / Regular PPT are allowed as per policy criteria. Money transferred from UK will be applied in the form of Top-up. All charges will be applicable as per product charge structure.

Vesting age must be chosen as Min 55 Years or above only. Along with Proposal form, enclosed “Request & Authority Letter” and “Declaration

Form” must also be signed by the customer (Both formats are available in the QROPS link on the intranet site)

Proposal form should be submitted to FOCUS team for login without enclosing “Request &Authority Letter”. The “Declaration Form” should be submitted to Focus.

Please ensure the proposal is flagged as QROPS in sprint at the time of login “Request & Authority Letter ” should be sent as scanned

copies to [email protected] followed by hard copies at the address mentioned below -

QROPS Team,Exide Life Insurance Company Limited, JP Techno Park, No 3/1 , Millers Road, Bengaluru – 560001 India

Please ensure that both the letters have complete details in it. Also, if customer is having any document related to his pensions, please send those document as soft copies followed by hard copies to the QROPS team.

A confirmation mail will be sent to the branches post receiving scan and hard copies of both the letters.

Should you need any assistance, please write to [email protected]


mailto:[email protected]



Summary…1. QROPS presents you a unique

opportunity where you can save 100% of your pension contributions made in UK.

2. TheIndianopportunityto improve

returns

economic growthprovides an

on


Thank you

-QROPS PUNJABLandsmiths projects Pvt LtdPh : 0712 - 4648675 Mob : +91 98150-48888

qrops punjab2

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