Guernsey QROPS are no longer able to accept new contributions from 6th April 2012. They are now considered ROPS (non-qualifying Regulated Overseas Pensions Schemes) which in certain circumstances can still accept benefits from other ROPS.
ROPS to ROPS transfers can offer significant advantages of lower fees and better investment management by changing one or more of;
- Investment Manager
- Investment Platform
Key differences to Gibraltar
- No new contributions allowed
- Tax free income
- £795 set up fee and £795 per annum in advance