UK Pension Transfer?We Make It Seamless & Compliant.
QROPS Simplified:Move Your Pension, Reduce Tax, Retire Smarter.

Welcome to TransferMyQROPS!

Your Smooth & Stress-Free QROPS Transfer Solution

Thinking about transferring your UK pension overseas? TransferMyQROPS or TMQ makes it easy, secure, and hassle-free! Whether you’re an expat or planning to retire in India, we help you move your pension into a QROPS with expert guidance and full compliance.

One of the biggest financial decisions for prospective expatriates planning a move abroad is how to manage their pension fund. So, if you’re planning to live abroad or have already moved, you have two options for your UK pension:

“Unlock Your UK Pension – Seamlessly Transfer to India with QROPS!”

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Clients

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HMRC-Compliant

Tax-Free Transfer

High Growth

Zero UK Tax

Leave it in the UK

Your pension remains where it is.

Transfer it to India.

Move it to a Qualifying Overseas scheme, a Qualified Recognised Overseas Pension Scheme (QROPS).

Non-Resident Indians (NRIs) working in the UK are required to contribute to UK pension schemes, which can grow into a substantial retirement fund. However, if they return to India and withdraw directly from their UK pension, the proceeds may be taxed under current regulations.

Fortunately, HM Revenue & Customs (HMRC)—the UK’s tax authority—offers an alternative: the Qualifying Recognized Overseas Pension Scheme (QROPS). This allows NRIs to transfer their UK pension to an approved overseas scheme, providing a more tax-efficient way to access their retirement savings after leaving the UK.

By opting for a QROPS, returning NRIs can better manage their pension funds while minimizing tax liabilities.

QROPS: Transferring Your UK Pension to India

What is QROPS?

A Qualifying Recognized Overseas Pension Scheme (QROPS) is an HMRC-approved overseas pension scheme that allows expatriates to transfer their UK pension benefits to another country, including India, after leaving the UK. This scheme ensures a smooth, tax-efficient transfer without triggering unauthorized payment charges. For Indians who have contributed to a UK pension and plan to retire in India, QROPS offers a structured way to manage retirement savings while minimizing tax liabilities and currency risks.

Why Transfer a UK Pension to India via QROPS?

  • Tax Efficiency

    Avoids high UK tax rates on direct withdrawals.

  • Flexibility

    Access funds in India under Indian pension rules.

  • Currency Stability

    Reduces exposure to GBR-INR fluctuations.

  • Simplified Management

    Consolidates retirement savings in India.

How does QROPS work?

  • Check Eligibility

    Ensure your UK pension is transferable and select an HMRC-recognised QROPS product in India.

  • Initiate Transfer

    Work with a TMQ QROPS Consultant to complete the necessary paperwork.

  • HMRC Approval

    The transfer is processed without penalties if compliant with regulations.

  • Access Funds

    Enjoy tax-efficient withdrawals as per Indian pension rules.

Key Benefits of Transferring Your UK Pension to India via QROPS

Potential for High Investment Returns

By transferring your UK Pension to a QROPS-approved scheme in India, you gain exposure to India’s high growth economy. Indian markets often offer better returns compared to UK Pension funds, helping your retirement savings grow faster.

UK Pension
Tax Efficiency

  • Avoid Heavy UK Taxes – UK pension withdrawals can be taxed up to 55%, reducing your savings.
  • Tax-Free Transfer – Shift your pension to India tax-free under the UK-India DTAA.
  • 30% Tax-Free Withdrawal – Withdraw up to 30% for major life needs without tax.

Consolidate Multiple UK Pensions into One

  • Merge multiple UK pension pots into a single QROPS scheme in India.
  • Simpler management, lower fees, and a single point of contact for your retirement funds.

Protection against currency fluctuations

  • UK Pensions are paid out in Pound Sterling (GBP), exposing you to exchange rate risk
  • A QROPS in India provides rupee-denominated payouts, eliminating currency volatility.

Higher Income Withdrawal Flexibility

  • UK pension drawdown rates are based on low UK actuarial rates.
  • QROPS in India may offer higher and more flexible income options, improving cash flow in retirement.

No UK Inheritance Tax (IHT)

  • In the case of demise with a UK pension, your nominee may face a 45% Inheritance tax.
  • Transferring to a QROPS in India eliminates this tax, ensuring your family receives the full pension value.

Lifetime Pension and Nominee Benefits

  • Receive a Regular Pension for Life in India.
  • On your demise, the remaining fund value is passed to your nominee without heavy UK taxes.

Are QROPS Right for You?

If you’re an NRI returning to India permanently, QROPS gives you:

  • Tax Savings

  • Higher Growth Potential

  • Simplified Pension Management

  • Protection from GBP-INR Fluctuations

Consult a TMQ QROPS advisor to explore the best QROPS options for a secure and tax-efficient retirement in India.

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