Since April 2006 as a direct result of EU human rights requirements of the freedom of capital movement, individuals have been able to transfer their pension savings in a UK registered pension scheme to a Qualifying Recognised Overseas Pension Scheme (QROPS).
If you are an Indian or a Person of Indian Origin having accumulated Pension Funds in UK, you can now transfer your pension savings to a Qualifying Recognised Overseas Pension Scheme (QROPS) in India. To be a QROPS, a pension scheme must be based outside the UK and meet certain requirements stipulated by the HMRC, UK. Transfers to QROPS can be Tax Free if the individuals transferring their UK Pension Benefits, reside in the same country where the QROPS is established.
Reasons to consider before moving your pension funds from UK to India
Why choose Exide Life Insurance for your Pension Transfer into QROPS
- Benefit from better appreciation opportunity - Watch your funds grows in a Capital Guaranteed Plan where the accumulated fund each year is the Guaranteed Capital.
- Avail attractive Annuity Rates (prevailing rate of 7.35% at age 60 on a Purchase Price of ₹25 Lacs).
- Benefit from our experience in managing a retirement corpus of over ₹2000 Crores.
- Option to receive your Pension Benefits into your NRE Account (applicable only for the premium in the policy received from your Overseas Pension Transfer or from your NRE account), which can be repatriated as per RBI regulations.
- Sound and Consistent Bonus Track Record – on Existing Retirement Plans.
Exide Life Insurance has been at the forefront in creating innovative pension plans listed as QROPS and helping Indians and People of Indian Origin desiring to transfer their UK / Ireland / Malta/ Gibraltar/ Jersey Pensions to India.
Exide Life Insurance has the following unique Pension Plans which are Recognised and Listed in the HMRC List of QROPS - for those who wants to transfer their UK pension funds into India:
- Exide Life Golden Years Retirement Plan
- Exide Life My Retirement Plan
- Exide Life New Immediate Annuity with Return of Purchase Price