Ga, As one who has been involved in QROPS for about 5 years now, may I offer the following advice.
First of all, anyone who is trying to sell you something is a salesman first and an IFA last. Very last.
If you have a government pension preserved from age 55, 60, 65, whatever, under no circumstances transfer it into a QROPS. By transferring into QROPS you are effectively gambling that you will die early. Who would bet on that?
Your IFA will tell you (in search of his commission at 7% of the transfer value) that if you die early there will be a lump sum to bequeath to your family. This is true. However, what he wont tell you is that if you live to be 95 (not unrealistic nowadays) your QROPS drawdown pension will be worth zip, nada, zilch, by the time you are 85, whereas your government pension will have kept growing at inflation rate throughout this period and will continue growing until you die.
Do not, under any circumstances, transfer a government pension scheme or any final salary pension scheme, under the vague promises of a pot of gold from an IFA. They are all salesmen and more interested in their commission than your retirement.
Last edited by BANANASBANANAS; 18th Mar 2015 at 18:31.