If you’re an expat or you’re planning to live in Switzerland for an extended period, a QROPS/SIPP pension can provide a valuable alternative to a frozen pension (a pension held in another country).
A lot of pensions are in deficit and it makes sense to move via QROPS, wherein, your pension then becomes your asset and we will make that money work harder for you so that you have a nice pot to rely on at retirement.
A SIPP (Self invested personal pension) is one of the most tax-efficent ways of saving for retirement. A SIPP lets you invest almost anywhere you like and choose your own investments.
The process is quite simple. Upon meeting with one of our financial consultants and deciding that this may be an option for you, a signed Letter of Authority is sent off to your pension scheme to obtain a potential transfer value. On the back of that, we request a TVAS report from an Independent Actuary (The pros and cons of leaving your pension where it is or moving it via QROPS or SIPP) we include this in our own analysis to determine whether it is best for you to move your frozen pension. If we have determined that it is within your best interest to move your pension, it is moved to a QROPS, wherein, it will then sit within the wrapper of an Offshore Bond as your asset or a SIPP (Self invested pension plan).
QROPS/SIPP is suitable for most people who have a frozen pension but have left the country (or are planning to leave). However, seeking professional financial advice before taking any steps towards a pension transfer is always highly recommended. An independent financial adviser will assess your financial and personal situation and ensure that the scheme you choose is suitable for you and fully compliant with HMRC rules and standards.
Get in touch with us to discuss with one of our wealth managers
VERTEX
Financial Management GmbH
Uraniastrasse 12
8001-Zürich
Switzerland
Tel.: +41 44 210 1790
E-Mail: info@vertexfm.ch