Who can apply for QROPS?

After finding out some interesting details about QROPS it is probably time to figure out who is eligible for it. Under the current laws and regulations, it applies to all British citizens who live abroad for some period of time. If you are an Australian who has been working in the UK for some time and you hold a UK pension, then you can transfer your pension to your country of origin using the QROPS, provided that you don’t live in the UK anymore. You also need to maintain your original citizenship at the time of application. For now, according to current laws, the only ones who cannot make use of the QROPS are American citizens, even if they have lived and worked in the UK. The old age pension system in the US is a little different, so the QROPS is not open for them.

Pension transfer UK is completely tax free if the individual resides in another country for more than five years. This, though limiting, is a measure against QROPS abuse. In order to see if you qualify for the QROPS it is recommended to seek pension advice from a professional, who will inform you on your current status and qualifications.