Financial Advice - Throughout Spain

ABOUT US

Kennedy Financial Services has a combined 100+ years of experience in the Financial Services Industry. All staff are fully qualified and will only offer the correct and best advice and ensure that only the best interests of our clients are foremost.

In addition to QROPS we offer a wide range of services including tax planning, investments and mortgage/re-mortgage facilities.

Whatever our clients requirements are we will guide you through and ensure that you fully understand everything before any decision is made. Once you have reached your decison we will complete all the paperwork and again ensure you fully understand the process of events.

Our administration team are highly motivated and will be in constant contact with clients by telephone and email throughout the whole process. Our offices are open from 10am to 6pm Monday to Friday and would be happy to answer any questions you may have.

Qualifying Recognised Overseas Pension Schemes

The British Government passed legislation in April 2006 that any British person living outside the UK, or is who intending to, is eligible to transfer their UK pension to a QROPS (Qualifying Recognized Overseas Pension Scheme) providing they are between 18 and 75.

QROPS PensionMore recent legislation, coming into force in April 2012, states that you must have been outside the UK for five full tax years and be over 55 years of age before you may receive any benefits, 30% tax free and a tax free income. However those below age 55 may still transfer to a QROPS and may take their benefits when 55.

The benefits of QROPS are numerous but tax efficiency is very high on the list. It is now possible to gain a TAX FREE income from your QROPS! Another huge benefit, especially for those under 55, is that in addition to receiving 30% at 55 you may also have 100% of the growth the fund has made, i.e. 100k transferred, tax free cash 30k, fund growth 50k = 80k tax free at 55 plus a tax free income. No uk pension provider can offer this!

If you were to contact your UK pension company they would tell you that you may not take the benefits prior to your selected retirement age or age 55 this is 100% correct if you are a UK resident. However as an Ex-pat you may under the existing and newer legislation.

As an ex-pat living in Europe, or further afield, you come under the rules for QROPS (see above) not UK rulings.

The process takes approximately 12 weeks and there is no obligation to proceed.

If you are an ex-pat, irrespective of Nationality, and you have a frozen pension in the UK you qualify under the rulings of HMRC (Her Majesties Revenue & Customs).

If you have already transferred your UK pension to QROPS it may be possible to transfer it and receive your income tax free.