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
Dogs are a member of the family, so many owners think that their dog won’t bite. Unfortunately for the 4.5 million victims of dog bites and attacks each year, this isn’t true. Any dog can bite, regardless of the breed. State Farm and Victoria Stilwell, internationally renowned dog trainer, author and star of Animal Planet's It’s Me or the Dog, have joined forces to teach people how to be responsible pet owners and reduce the number of dog bites.
To view the Multimedia News Release, go to: http://www.multivu.com/mnr/70394523-state-farm-insurance-and-canine-expert-take-a-bite-out-of-dog-attacks
The 6th Beijing Biennale under the theme of “Memory and Dream”, co-sponsored by the China Federation of Literary and Art Circles, the People’s Government of Beijing Municipality and the China Artists Association is expected to be exhibited in the National Art Museum of China from Sep.24 to Oct.15, 2015. The exhibition attracted 685 pieces of artwork from 96 countries which registered half of the member countries of the United Nations, covering contemporary paintings, sculptures, installations, videos and mixed media (with 188 pieces of artwork from China and 497 pieces of artwork from foreign countries).
Artists from all over the world were encouraged to create paintings and sculptures related to the theme “Memory and Dream”. The International Art Gala with unprecedented size of participating countries provides a high standard visual feast for all art lovers from all over the world. Beijing Biennale serves as a platform to demonstrate historical and cultural memories of different countries and express humankind’s expectation and aspiration for the future by means of art. Following the opening ceremony, the Beijing Biennale has become the focus of audiences and media with the daily volume registered at 7000. It is expected that during the Golden Week of the National Holiday, the audiences per day will amount to more than 10,000.
To view the multimedia release go to:
http://www.multivu.com/players/English/7644351-beijing-biennale-memory-and-dream/
From the changing nature of work to evolving consumer expectations, executives are facing new challenges as they seek to ensure success in a business climate marked by constant change. CEB (NYSE: CEB) the leading member-based advisory company, today released Top Insights for the World’s Leading Executives to identify the shifts driving change and help organizations embrace the challenges they pose in order to realize meaningful growth in the years ahead.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/7291531-ceb-2014-top-insights/
Since 1984, the National Insurance Crime Bureau (NICB) has published annual reports—known today as Hot Spots—that examine vehicle theft at the national and local level. NICB was originally established in 1912 as the Automobile Protective and Information Bureau and the company focused exclusively on recovering stolen motor vehicles that were insured by its 11 member insurance companies.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/70506511-nicb-national-insurance-crime-bureau-annual-vehicle-theft-hot-spots-report/
AARP is announcing the winners of a unique contest that encourages filmmakers to tell the story of family caregiving through short films. The competition was launched as part of Ad Council and AARP’s National Caregiver Awareness Campaign to help reveal the hard work and dedication of the nation’s 40 million family caregivers. These stories focus on three family caregiving themes: The Changing Face of Caregiving, Roles Change, and Random Acts of Kindness for Caregivers. The winners share a $25,000 prize and the opportunity for their work to be featured on AARP and Ad Council web and social platforms.
“These three minute or shorter films really open up the world of family caregiving helping people to better understand the intense challenges as well as the deep personal rewards of caring for a loved one,” said Amy Goyer, AARP family and caregiving expert and author of the new award-winning book Juggling Life, Work, and Caregiving. “But more importantly, the stories show how much love is present in family caregiving, whether it comes from a family member, friend or even a stranger.”
To view the multimedia release go to:
http://www.multivu.com/players/English/7607231-aarp-caregivers/
http://www.legalenglish.com Legal-Ease International is a company that specializes in training Legal English to attorneys throughout the world. Our instructors are American licensed attorneys with vast experience teaching Live seminars in Legal English. Legal-Ease International has taught thousands of lawyers and businesses throughout Europe, and Asia. Seminars in Legal English are presented by Dena Falken, an International Lawyer that is admitted to practice law before the United States Supreme Court Bar
Employee benefit plan regulations pose unique, high risk questions for Plan Sponsors and effect the future well-being of all plan participants. EisnerAmper meets the demands of Plan Sponsors by providing audit, tax and advisory services to assist them with their fiduciary responsibilities in this often complex and technical area.
Why EisnerAmper?
• Partners and Directors who devote 100% of their time to employee benefit plans
• AICPA Employee Benefit Plan Audit Quality Center member firm
• Experience with over 400 annual benefit plan audits
• 2 reviews by the Department of Labor with no comments!
• Industry dedication and passion
While we know how essential it is for our professionals to be knowledgeable in the benefit plan industry, we believe it's also as important to share that information with our clients. Below are links to two of EisnerAmper’s benefit plan libraries.
To view the multimedia release go to:
http://www.multivu.com/players/English/7461932-eisneramper-employee-benefits/
Room KeySM announces access to Loyalty Member Rates from more than 60 of the world’s largest and most well-known hotel brands, including Hilton®, Hyatt®, Marriott®, Holiday Inn®, Comfort Inn® and Wyndham®. Hotels’ member rates are typically lower than other published rates and available only to members of the hotels’ loyalty programs who book directly with the hotel, primarily through their own websites. Now Room Key can access these rates and is the only travel site where customers can shop and compare Loyalty Member Rates from so many different hotel chains in one place.
“There’s a lot of confusion out there about how and where to find the best hotel rates,” says Steve Sickel, CEO, Room Key. “A relatively unknown ‘travel secret’ is that many hotels offer lower rates to members of their loyalty program on their own websites,” Steve adds. “Room Key can now display these lower ‘Loyalty Member Rates’ for thousands of U.S. hotels across more than 60 hotel chains all on one site, making shopping the best rate a lot easier,” he says. “No other travel site can access as many loyalty rates across as many hotel chains as Room Key.”
To view the multimedia release go to:
http://www.multivu.com/players/English/7850951-room-key-lower-rates/
Clayton, one of the largest home builders in America, has launched a social media and video campaign that highlights the importance of giving back to those in need.
The “Season of Giving” campaign shares stories from the experiences of Clayton team members giving back to their communities and fellow team members in need. Clayton’s 40 home building facilities and nearly 350 home centers across the nation are encouraged to share how they are giving back through their social media channels in hopes to inspire others. The campaign will run during the globally recognized, Giving Tuesday, which takes place the Tuesday after Black Friday on Nov. 28.
The storytelling campaign includes personal experiences from team members such as building a ramp for a team member’s wife, volunteering with a local school for autistic children and supporting a special needs football team.
To view the multimedia release go to:
https://www.multivu.com/players/English/8011658-clayton-season-of-giving/
Following the tradition of British clerical detectives, Author Martha Ockley paints an authentic picture of English rural and church life through police inspector-turned-vicar Faith Morgan. When called to investigate the murder of a member of her congregation, Faith’s inquiries lead her to uncover a hotbed of tensions and romantic rivalries. Learn more about this book here, http://bit.ly/17isreQ Mystery
NASA Federal Credit Union announced today the launch of its new Zero Down, No PMI Family Mortgage. The Family Mortgage allows a member to be a non-occupant co-borrower to assist their adult children or elderly parents with mortgage qualifying.
To view the Multimedia News Release, go to: http://www.multivu.com/mnr/7159651-nasa-federal-credit-union-zero-down-no-pmi-family-mortgage
