Thai Police Bust Multi-Million Baht Sex Toy Smuggling Ring

[AyG]

After five years' non-residence in the UK one's QROPS scheme is no longer subject to the UK's income drawdown limits, but those of the QROPS' country. I understand that the Guernsey drawdown limits are more generous than the UK limits, but can't find any details of what they are. Does anybody know the Guernsey rules, or perhaps can provide a link to a website with the information? (I couldn't find anything on the Guernsey government website.)

Thanks.

[wordchild]

My understanding is that Guernsey along with other QROP jurisdictions have tightened somewhat the post five year drawdown rules so that they are now pretty similar (in broad terms) to those that apply in the UK. As i understand it drawdowns must still be properly valued by actuarial analysis (GAD annuity rates). i think the main flexibility is in taking the 25% lump sum which can be taken in stages( ie as a series of lump sum payments upto the 25% total) .There is also greater flexibility applied to the funds on the death of the beneficiary. The main benefit remains, of course, that there is no local tax to pay if you are not a Guernsey resident.

Edited October 16, 2010 by wordchild