What does QROPS mean?

For people who are not sure as to what exactly is meant by QROPS, this article will be of great help. The term QROPS stands for qualifying recognized overseas pension scheme. As per the provisions of the QROPS, it is now made possible for the people to transfer their pension scheme from one country to another, depending on the convenience of the person who goes for the transfer. Provided the country of interest is covered by the HMRC, one can go on to get the transfer done with ease.

People, who have doubts of any kind about the entire process, need to check out the provisions of the HMRC and take assistance of the various consultancies that operate in this field. Therefore, knowing more on this topic would help one take the right decision about the kind of state to where he can have the pension schemes of his transferred. The need for one to reside in the country where he has got the pensions scheme transferred also has been avoided, thereby, bringing in great ease into the entire process of going about QROPS transfer.