Transferring a UK pension to Canada
The Benefits of Transferring your UK Pension to Canada
- Consolidating your financial assets in one country will simplify tax & estate planning
- Your portfolio will be located in Canada and held in Canadian dollars instead of British pounds
- You will have access to a wide range of Canadian based investment solutions
What is a Qualifying Recognized Overseas Pension Scheme (QROPS)
A Qualifying Recognized Overseas Pension Scheme (QROPS) is a retirement savings plan that allows eligible persons to transfer their UK pensions to another country.
Who is best suited to setup a QROPS
- You must be between the ages of 55 and 71
- You must hold a qualifying UK pension
- You must plan on residing in Canada for at least five years
- You prefer to hold your pension in Canada
How difficult is it to transfer a UK Pension to Canada
- You must hold a qualifying U.K. pension (UK government and public sector pensions cannot be transferred)
- You must inform your UK pension administrator of your intention to transfer your pension funds to Canada
- We will assist in preparing your transfer forms and setting up your Canadian QROPS account