Since “A day” in 2006 (when the government substantially reformed pensions regulations), expats have a number of different options of funding their retirement.

For example, the major change from the point of view of expats was the change in tax treatment of certain offshore pensions.

By selecting a QROPS (Qualifying Recognised Overseas Pension Scheme) for their pension, Britons living abroad could legitimately repatriate their pensions, without having to part with any for the taxman. HMRC gives QROPS status to schemes that are regulated as treated for tax purposes as pensions in their country of origin. So the trick is to find both a pension arrangement and a host country that offers more favourable terms than your British scheme.

Admission to the QROPS list may involve meeting strict criteria on the part of scheme administrators and managers. However, savers should be aware that the QROPS list is not the same as a list of recommended foreign pensions. The list may contain schemes that perform poorly or outstandingly well; or schemes that expose assets to high levels of risks as well as those which dawdle along in the shallows of low risk, low yield investments.

So anyone who decides to get a QROPS needs to take professional advice in the same way that any big financial decision needs measured advice.

Likewise, there may be other consequences to rejigging your pension arrangements. A British pension falls inside the UK inheritance tax system, to be dealt with in accordance with the rules of England and Wales or Scotland, as appropriate. If your pension has been transferred to a QROPS, you may find that the inheritance tax treatment of the country in which you live is more or less favourable. Whilst it is a subject that no one much likes to consider, getting advice on the IHT implications of a QROPS transfer is essential.

To understand the basic of QROPS, we recommend reading the international expat investment publication’s basic guide here www.iexpats.com/qrops/

So why the information about QROPS? Well this is where our recruits come in. QROPS is a large part of financial sales overseas and it is estimated to be a £500 billion plus industry. Companies have large amounts of clients requiring advice and new clients coming on board each week. The demand for talented financial sales experts is increasing

International financial sales is a fast paced industry with new products and services coming online and old ones dying out.

If you want to get on the next big wave in sales, contact us today to find out more.

The post QROPS, What is it? appeared first on Forefront Recruitment.

It is also no surprise that this last quarter of the year is also the biggest “earning” for many in Financial Sales.

There appears to be a trebling of business from investors throughout the offshore financial world.

Could the reason be:

1. Investors “wakeup” after the summer of fun and realise that its time to plan for their future?
2. Savings for the future becomes a reality after realising how much summer holidays cost?
3. Children starting new schools and colleges, the expense of higher education taking its toll and creates the fear factor. Especially if there is more then one child.

We could go on guessing why investors and individuals concerned about their financial future start reaching out for quality financial advice. But the fact remains that they do, and it has been a constant since the beginning of this industry.

So if you are looking for a change in careers, or want to take you financial sales skills overseas, contact us today to find out how we can guide you in the right direction.

Working with only the leading firms, you can be sure we have the contacts that’s needed to be a success in this growing industry.

Contact us today using the details to the right.

The post Time to change careers? appeared first on Forefront Recruitment.