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Old 23rd Mar 2017, 06:35
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johnjonesnine
 
Join Date: Mar 2016
Location: Kuwait
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QROPS may be a good option for non-UK residents who intend to live abroad permanently, but here's the kicker, most expats do not live abroad permanently, particularly married expats.

With longer life expectations generally we can think of retirement as having two phases, the years of good health when travel and otherwise pottering around sunny climes can be enjoyed, and then the older years where frailty and declining health begin.

The QROPS salesperson talks only of the first part, but we must also face up to and plan for the second part and the truth is that most of us will wish to die at home, in the country of our birth. For couples the first part will come to an end when one partner has a heart attack or stroke or cancer.

We all know there are many expats with younger Asian wives who plan to retire to Asia. I think that intuitively we also know that 19/20 will end up back in Blighty before they die.

Now if you are returning to the UK in your 80s, in poor health or with a partner who is in poor health, the last thing I think you will want to deal with are the legal and taxation consequences of a pension transfer that you arranged 20 years earlier.

MacSheikh, you cay that "My advisor is a Brit who has been in the UAE for 17 years. He speaks a lot of sense, tells me pro's and con's, backs them up with good info from the major players".

I'm sure your adviser is very agreeable company, but you have to ask yourself if you are equipped to tell the difference between a good adviser and an adviser who talks a good game. What qualifications (particularly pensions and tax related) does your adviser have, if any? Does he/she have professional indemnity insurance? Do you know how much the advice is costing you?

The fact that your adviser says that he/she only works on referrals is meaningless, they all say that. It is the financial equivalent of the barrow boys who sell perfume at a special price, only for you Sir!

Concerning DeVere and QROPS specifically you might not be aware that it is reported that DeVere is currently the subject of a review by the Financial Conduct Authority in the UK:
http://www.financialreporter.co.uk/r...ca-review.html
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