Flexible benefits for QROPS pensions

[Jerry Mandering]

I live in Thailand and I have a QROPs pension, based in the Isle of Man, my pension advisor has told me that the changes to the UK pensions to make them flexible will be applied to the QROPS schemes, but sofar I have seen nothing and a troll of the internet does not show much information on the subject, I think my advisor has been miss-informed. Any help would be great

[KNJ]

Similar situation, I believe only speculation at the moment, however there has been murmurings, but nothing concrete I can find

[Oxx]

My Guernsey QROPS provider now provides full flexibility, albeit by transferring to a different scheme. The fees work out as GBP 1,000 + 1% of pension value (minimum GBP 3,000) for a single full withdrawal.

What is absolutely unclear, however, is how withdrawals will be taxed.

[wordchild]

So far pension flexibility has only been extended to EU based QROP schemes. However Guernsey is in a slightly different situation from other non EU QROP jurisdictions. Most of the Guernsey QROPS were delisted by HMRC some time ago, so those of us who had Guernsey based QROPS now have something called an RNUP.