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
Q&Q SmileSolar, known for its fun, color-driven and eco-friendly watches, unveils a digital campaign video filmed and animated by Cait Davis of Springtime Jellyfish. The video brings the brand’s core values to life in a fresh, modern way. Watches are available to purchase via the brand’s online store at store.smile-qq.com.
The Q&Q SmileSolar hero video highlights two of the brand’s most popular styles – the 20 Bar ($60 retail) and Mini ($40 retail) - that are completely solar-powered, keeping them operating up to approximately three-and-a-half months after one single charge. The watches are also all eco-friendly – the strap and case incorporate recycled materials – and each have a durable water-resistant casing as well.
The video also gives nod to the brand’s commitment to Table for Two, a non-profit that delivers school meals to children in Africa and Asia. A percentage of sales from each watch goes to support the cause. To date, Q&Q has donated over 131,000 meals.
To view the multimedia release go to:
https://www.multivu.com/players/English/7886551-q-and-q-smilesolar-hero-video
VolAero Drones is working with famed outdoorsman Bill Booth to demonstrate that drones equipped with the latest thermal imaging equipment can effectively spot and track pythons at night – the prime hunting time. Over 100,000 Burmese pythons infesting the Florida Everglades have decimated 90 percent of small wildlife while surviving all attempts at eradication.
“Python hunters finally have a tool to make hunting more efficient, bringing down the python numbers that are devastating Florida’s Everglades,” said Booth. “This drone and thermal technology is light-years ahead of shining a flashlight into the darkness and hoping for the best. The thermal imagery picked up not just the monster pythons, but also native snakes as small as 18 inches. This suggests that we’ll be able to spot and eliminate clusters of python hatchlings, which will help curb their reproductive cycle.”
To view the multimedia release go to:
https://www.multivu.com/players/English/8225051-volaero-drones-thermal-technology-python-invasion-everglades/
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Victory doesn't always come in the form of a winning on-field goal or a walk-off home run. Sometimes, victory is just as simple as a phone number after a long night out on the town. This October, sportlifestyle brand, PUMA®, salutes these special competitive moments with the launch of The PUMA Social Club LA, the place for the social games we play off the field with friends, when the sun goes down. Open from October 13th through October 28th in West Hollywood, The PUMA Social Club LA pays homage to the After Hours Athlete – those who enjoy the smell of victory and the agony of defeat, all with a drink in hand, wearing their favorite pair of PUMA Clydes. Has competition ever felt this good?
To view Multimedia News Release, go to http://multivu.prnewswire.com/mnr/puma/46448/
PTSD treatment 1 week on former Birmingham soldier Craig Burgess talks about the changes in his PTSD post traumatic stress disorder and how all the nightmares and flashbacks have stopped after just one session with Birmingham NLP hypnotherapist Debbie Williams. Get a free hypnosis recording Stop worrying and create a wonderful life form here http://www.debbiewilliamsassociates.co.uk/home.htm
Today, Brother International Corporation, the leader in laser printing in the small office, home office market, announced its newest line of monochrome laser printers and all-in-ones. From work-from-home-warriors and small-office-heroes to trusted school administrators and busy medical practices, Brother has a proven track record of providing the most reliable printer solutions on the market, and today the best got even better.
The new lineup includes five printers and four all-in-ones to address the evolving needs of the busy home or small office, including the first Brother XL Extended Print laser models that include up to two years of toner in the box. Printers in the new lineup offer fastest-in-class print speeds, high-quality prints, and superb reliability, all while keeping budget in mind.
To view the multimedia release go to:
https://www.multivu.com/players/English/8253851-brother-monochrome-laser-printers-all-in-one/
PROTO® Industrial Tools is pleased to announce that the company has introduced new products to its range of 1,500+ aerospace-compliant (AS) mechanics tools, all manufactured in the company’s Dallas facility.
From newly innovated intermediate sockets, wrenches, extensions, and ratchets, to torque tools and accessories, select PROTO® hand tools meet the specifications mandated by the SAE International group of engineers (SAE AS954G, AS955, AS4984A, and more). These hand tools meet both dimensional and plating specs to help promote productivity, safety, and durability suitable for most heavy industrial verticals. PROTO® engineers, manufactures, and tests its products in its own Dallas, TX facility to help ensure quality and precision manufacturing.
For users in industries like Aerospace, Oil and Gas, Petrochemical, Manufacturing, Automotive, and more, aerospace-compliant tools meet next-level durability and quality standards necessary to perform in extreme conditions. Over 1,500 PROTO® mechanics tools meet the required aerospace specifications needed to accommodate precise applications demanded in aviation, government, and military verticals.
To view the multimedia release go to:
https://www.multivu.com/players/English/8298951-proto-industrial-aerospace-compliant-tools/
Interim clinical results from Project IMPACT: Diabetes, announced today by the American Pharmacists Association (APhA) Foundation, show statistically significant decreases in A1C or blood sugar levels, LDL cholesterol, systolic blood pressure and Body Mass Index (BMI), which are all recognized standards of diabetes care. Participating patients in 25 communities who experienced improved outcomes encompass almost every socioeconomic class, insurance status and ethnicity.
To view Multimedia News Release, go to http://www.multivu.com/mnr/62268-american-pharmacists-association-apha-foundation-project-impact-diabetes
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Progresso is now using only 100 percent antibiotic and hormone free chicken breasts in all of its 36 chicken soup varieties. Currently available on store shelves nationwide, Progresso is the first large retail soup brand in the United States to have antibiotic and hormone free chicken breasts in its soups.
For decades, Progresso has been committed to continuously improving the quality of its soups. Not only is Progresso now using only white breast meat chicken with no antibiotics or hormones, but the brand is also free from artificial flavors and has removed artificial colors from 60 percent of its soups, with a goal to remove 100 percent by 2019. In addition, the soup brand has reduced sodium levels in more than 40 soup varieties, added seven soups to its certified Gluten Free product line and is increasing its vegetarian soup options.
To view the multimedia release go to:
http://www.multivu.com/players/English/7885251-progresso-antibiotic-free-chicken/
Sometimes, a reliable set of wheels is all that stands between a veteran and their dreams. This month, more than 100 veterans and their families will be getting keys to newly-refurbished vehicles as part of Progressive’s fifth annual Keys to Progress® event. This year, Progressive will donate its 500th vehicle. The vehicle giveaways will occur on November 9 at 68 locations across the country, including Progressive Service Centers, one-stop facilities where Progressive handles claims and coordinates repairs for customers.
To view the multimedia release go to:
https://www.multivu.com/players/English/8204351-progressive-keys-to-progress/
