QROPS - Qualifying Recognised Overseas Pension Schemes were introduced in 2006 as part of a major overhaul of Britain\'s pension framework, aimed at simplifying pension transfers to another country. New legislation was passed by the UK tax authority, HM Revenue and Customs (HMRC), in order to comply with an EU directive that pensions be free to move across Europe\'s borders. This ruling means that individuals, wishing to retire to countries such as France, Spain and Portugal can effectively take their UK pension funds with them: http://www.axis-finance.com/what-are-qrops.php
Who can apply for a QROPS?
A QROPS is specifically designed to allow anyone, not intending to retire in the UK, to transfer existing and frozen UK pension plans into a more appropriate retirement vehicle.
Individuals who are, or have been members of a UK registered pension fund and are currently living outside of the UK, or intending to leave the UK on a permanent basis, can consider transferring their retirement fund into a QROPS: http://www.axis-finance.com/qrops-living-in-France
Transfers to QROPS
The UK Government allows transfers to QROPS to be made free of UK tax. Their aim is to simplify the affairs of individuals leaving the UK on a permanent basis and to encourage them to continue saving in order to provide an income when they retire. There is no official limit to the amount of funds that may be transferred to a QROPS: http://www.axis-finance.com/qrops-France-pension-transfers
QROPS - HMRC Rules
What makes a scheme a QROPS?
In order to transfer your UK pension into a QROPS, it is necessary for the overseas pension scheme to be accepted by HMRC. The criteria outlined by HMRC for an overseas scheme to qualify as a QROPS include:
- The pension scheme must be established outside of the UK
- It must be recognised for tax purposes in the country where it is located
- It must be regulated in the country in which it is established
Age that benefits can be taken from a QROPS
The QROPS regime mirrors that of a regulated pension scheme in the UK. Benefits, including lump sum payments, from the transferred funds may not be distributed earlier than the normal retirement age of 55, if an individual has been a non-UK resident for less than five complete tax years: http://www.axis-finance.com/qrops-living-in-France-HMRC-Rules
QROPS Reporting requirements
HMRC should be notified if a payment is made within the first five tax years of a member becoming non-UK tax resident. Any benefits paid before five complete tax years of non-UK residency and not in accordance with UK Pension rules will be deemed an unauthorised payment.
The scheme manager does not have to notify HMRC if the payment is made 10 or more years after the day of the transfer that created the QROPS fund for the \'relevant member\', provided that the person is non UK resident for the duration of this period. This 10 year \'bracket\' for reporting payments took effect as of 6 April 2012.
QROPS List
When transferring your UK pension to a scheme overseas, it is important to check that the scheme meets the conditions to be a qualifying recognised overseas pension scheme (QROPS). Not all transfers to overseas or offshore schemes are QROPS transfers; it is therefore essential to verify that the scheme receiving your UK benefits is on the QROPS list published by HMRC, otherwise a transfer will be treated as a transfer to a non-qualifying overseas scheme and substantial penalties may be applied by HMRC at the time of transfer: http://www.axis-finance.com/qrops-list-living-in-France
How do I know if it is a legitimate QROPS scheme?
QROPS approved plans that agree to have their details published are listed on the HMRC website. A UK Pension administrator will confirm a QROPS listing before agreeing to a transfer. If not listed, the administrator will contact HMRC
Leading Scotch Whisky brand LABEL 5 reveals an exclusive partnership with bartenders around the world who have created innovative and tasty cocktails with LABEL 5 Classic Black. In addition to this digital campaign called “WHISKY CONFIDENTIAL”, LABEL 5 announces being partner of the IBA’s World Cocktail Championships for 2015.
With its videos, LABEL 5 invites its consumers to enter into private and trendy bars to get exclusive cocktail recipes imagined by the bartenders.
Reflecting the latest whisky-based cocktails trends in Shanghai, New York and London, LABEL 5 stays true to its international and contemporary positioning while offering a new experience that enhances the smoothness and balanced character of its core reference LABEL 5 Classic Black.
To view the multimedia release go to:
http://www.multivu.com/players/English/7655951-label5-whisky-confidential-campaign/
The Yankee Candle Company, Inc., the world’s largest manufacturer of premium scented candles, today announced the launch of two new fragrances and the return of three favorites in its popular limited edition Man Candles collection. Just in time for Father’s Day, Camouflage and On Tap™ join last year’s introduction MMM, Bacon!™ and original Man Candles Man Town™ and Riding Mower™. The Man Candles collection, which was an instant hit when it debuted in 2012, was created uniquely for men to enjoy in their “man town,” wherever that may be in the house. These limited edition fragrances are available now at Yankee Candle’s over 500 retail stores, at www.yankeecandle.com and select specialty retailers and gift shops. Yankee Candle is launching a series of social media contests offering consumers the chance to win samples of the Man Candles III collection!
To view the Multimedia News Release, go to: http://www.multivu.com/mnr/7221651-yankee-candle-heads-outdoors-new-man-candles-fragrances
History was made today in Mississippi, as two Magnolia State resorts, Beau Rivage Resort & Casino in Biloxi and Gold Strike Casino Resort in Tunica, held simultaneous events to usher in the era of legal sports wagering.
The resorts, part of the MGM Resorts International portfolio (NYSE: MGM), both accepted their first sports wagers at 12:00 p.m. CT and now share in the distinction of taking the first sports wagers in Mississippi under newly created state regulations permitting licensed casino operators to establish legal sports books.
“MGM Resorts is proud to once again assume the leadership position in the hospitality industry,” said Jim Murren, chairman and chief executive officer of MGM Resorts International. “Sports wagering is a rapidly growing, exciting new entertainment opportunity for our company. We were proud to take the first sports wager in Atlantic City in June and today the first legal sports wager in two locations in Mississippi.”
To view the multimedia release go to:
https://www.multivu.com/players/English/8372951-mgm-beau-rivage-sports-book-and-bar-mississippi-first-bet/
For Autumn-Winter 2014/15, Alberto Guardiani has created a futuristic collection where the trait d’union connecting tradition and the future is ongoing experimentation and design research; the lightness of innovative materials, the cuts of the leather, and the artisan craftsmanship are expertly combined with the functionality of the designs.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/72762526-alberto-guardiani-collection/
As part of their ongoing Stop the Texts. Stop the Wrecks. Texting and Driving Prevention campaign, the Ad Council and the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) are partnering with YouTube creator and actress Meg DeAngelis to raise awareness of this dangerous behavior. The collaboration also coincides with the release of new television campaign public service advertisements (PSAs) and the launch of Project Yellow Light, a national video contest and scholarship program that aims to educate young drivers on and generate engagement around this issue.
Meg is joining the effort as part of the Ad Council’s Creators for Good program by distributing new exclusive video content to her almost four million subscribers on YouTube. The video amplifies the campaign message, showing drivers that no matter how “safely” they think they can drive while doing other things, distracted driving is always dangerous. Created as an advice video, Meg runs through “10 Everyday Things You’re Doing Wrong” - from putting in bobby pins to folding your clothes - and ends with a serious message to her fans about the dangers of texting and driving.
“Texting and driving is such a serious issue, so I'm really proud to be a voice of this important campaign,” said DeAngelis. “I want all of my viewers to stay safe, so I hope that together, we can spread the word on the dangers of distracted driving.”
To view the multimedia release go to:
http://www.multivu.com/players/English/7682151-ad-council-project-yellow-light/
Cision, a leading global media intelligence and communications solution provider and portfolio company of GTCR, announced that Kevin Akeroyd has been named global chief executive officer (CEO), effective today. Akeroyd succeeds Peter Granat, who established the company’s position as a global public relations and marketing cloud leader, and will transition to chairman of the Cision Board of Directors.
Akeroyd has more than 25 years of experience in reshaping modern digital, social and mobile marketing globally. Most recently he was general manager and senior vice president at Oracle Marketing Cloud where he orchestrated and executed the industry’s most prolific acquisition strategy, including Marketing Automation, Omni-Channel Campaign Management, Web Personalization, Content Marketing, DMP, Mobile Marketing, Data, and X-Device Orchestration. Under Akeroyd’s leadership, Oracle went from a non-entity to the #2 player in the entire industry in under three years, growing the business in 29 countries globally, and boasting the highest organic growth rate of all the major Marketing Cloud providers rate three years running. Integrating the solutions and the go-to-market, Akeroyd and Oracle created the Enterprise Marketing Platform category and have led it from the onset.
To view the multimedia release go to:
http://www.multivu.com/players/English/7896951-cision-kevin-akeroyd-new-global-ceo/
The Perelman School of Medicine at the University of Pennsylvania and the March of Dimes Foundation announce the launch of a new $10 million Prematurity Research Center here.
The March of Dimes will invest $10 million during the next five years to create a transdisciplinary center conducting team-based research, led by physicians and researchers at the Hospital of the University of Pennsylvania and The Children’s Hospital of Philadelphia, to discover the unknown causes of preterm birth and develop new strategies to prevent it. This March of Dimes Prematurity Research Center at the University of Pennsylvania is part of a “medical Manhattan Project” of five such centers in the United States created by the foundation since 2011.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/65164-march-of-dimes-march-for-babies-2014/
Spring means warmer weather, flowers starting to bloom and more time spent outdoors, so why not ring in spring by adding light and healthy new potato recipes to the dining table? Chef and Registered Dietitian Katie Cavuto Boyle stars in the US Potato Board’s “Seven Potato Types” educational video series and has created two new potato salad recipes perfect for the season. With seven unique potato types – Russets, reds, yellows, whites, purples, reds, fingerlings and petites – you can use a new type every night of the week!
To view Multimedia News Release, go to http://www.multivu.com/players/English/60495-potato-goodness
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