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QROPS - Transfer your pension from UK to India

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Who should consider QROPS?

  • Any Indian who has contributed to a pension fund (other than National Insurance Contributions) in UK and has either moved out or is planning to relocate outside of UK.
  • Only non-active pension funds can be transferred.

What is QROPS?

Indians who have worked in UK might have made some regular contribution from their income towards a pension fund. Now if they plan to move out of UK, the UK Government allows transfer of their pension funds tax free to pension schemes in India registered as QROPS.

QROPS stands for Qualifying Recognized Overseas Pension Scheme . It refers to overseas pension schemes which have been approved by Her Majesty's Revenues and Customs (HMRC), UK for transferring a UK pension fund 'tax free' to any other country. HMRC is the government body in UK that collects and administers taxes.

Learn more about QROPS from Exide Life Insurance

Key Benefits

1. Growth with minimum guarantee
Your Individual Pension Account (IPA) grows at an interest rate declared every year. It is determined subject to the performance of the fund.
However, the minimum interest rate on your IPA is 5% p.a. for first 5 policy years and 1.5% p.a. for rest of the policy term. The interest once added in IPA is guaranteed to be paid.
2. Flexibility
This plan offers multiple flexibilities to help you plan your retirement as per your convenience.
  1. Top-Up Premium: In addition to the regular premium, you can pay an additional amount during the policy term** to ensure your retirement fund grows faster.
  2. Premium Payment Options :
    • Choose from Regular, Limited or Single Payment options.
    • Choose to pay premium monthly or annually.
    • Choose to decrease or increase the premium payment term by keeping the premium amount same.
3. Guaranteed Vesting Benefit
On completion of vesting term, you will get Guaranteed Vesting Benefit which is higher of:

  • Gross premiums including top-up premiums compounded @ 1% p.a., or
  • Individual pension account (IPA) value.
You may commute up to 30% of the vesting amount tax free and use minimum 70% to purchase annuity from after attaining age 55 to ensure a monthly income guaranteed for your life time.
4. Loyalty Benefit
All premium allocation charges deducted are refunded to your Individual Pension Account on vesting (reaching the retirement age) once you have made a total premium payment of 4,80,000/- (does not include top-up premiums).
5. Tax Savings
Premiums paid are tax free under section 80C as per applicable income tax laws.

5 Reasons you should consider moving your pension funds from UK to India

1 Receive pension and other benefits in Indian Rupees.
2 Benefit from better appreciation opportunity.
3 You may commute up to 30% of the vesting amount tax free and use minimum 70% to purchase annuity after attaining age 55 to ensure a monthly income guaranteed for your life time.
4 After you, leave behind the purchase price amount for your beneficiary without any tax liability.
5 Benefit from our experience in managing a retirement corpus of over 1000 cr.

Why Exide Life Insurance for QROPS?

  • Exide Life Insurance an established and profitable life insurance company since 2001, serves over 15 Lac customers in India.
  • The company has demonstrated a good track record in managing retirement and pension products.
  • Benefit from our experience in managing a retirement corpus of over 1000 cr.
Exide Life Golden Years Retirement read the sales brochure Plan UIN: 114N065V01. For more details on risk factors, terms and conditions, please of the mentioned product carefully before concluding the sale. URN: EXL/ONLINE/2014/143.
UK pension transfer to India made easy with Exide Life 
Who Should Consider?
X

Who Should Consider?

  • Any Indian who has contributed to a pension fund (other than National Insurance Contributions) in UK and has either moved out or is planning to relocate outside of UK.
  • Only non-active pension funds can be transferred.
What is QROPS?

Indians who have worked in UK might have made some regular contribution from their income towards a pension fund. >>

Why Exide Life Insurance for QROPS?

Exide Life Insurance an established and profitable life insurance company since 2001. >>

Key Benefits
QROPs India
Read more about our QROPS plan
5 Reasons
to transfer your UK pension fund
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