got or considering a rops?

In 2006 the HMRC introduced the systems for individuals to move their pensions from the UK. The HMRC intends for this overseas scheme to be a registered overseas pension and lists the recognised schemes on their website. An overseas scheme should continue to keep the same standards as a UK scheme and the trustees of the scheme are obligated to report to the HMRC

Why should I use a ROPS:

• Lifetime allowance: Once inside a ROPs non-UK resident individuals are protected from further lifetime allowance tests.
• Succession Planning: Often individuals will use a ROPS  to plan for death as UK pensions take a charge on death after age 75.
• Investment Flexibility
• Currency Control
• Consolidation

What jurisdiction should I use:

Within a ROPs there are many jurisdictions that can be used dependant on where on an individual is resident.

• Malta : Malta is a jurisdiction that complies with and helps develop international best practice, and is actively involved with the OECD (The Organisation for Economic Co-operation and development), the EU and the Commonwealth in modelling global regulatory policy. The MFSA (Malta Financial Services Authority) is a member of the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority.

Advantages: non withholding tax on pension distributions where double taxation agreement is help, within the European Union, non local taxes on death.

Disadvantages:  for non-EEA residents there is a 25% taxation upon transfer, limited number of pension administrators

• Gibraltar: Gibraltar is a British overseas dependent territory and one of the first territories to implement the Anti-Money Laundering Directive on an all-crime basis. A 2012 report by the Financial Action Task Force (FATF) highlighted Gibraltar as having "a robust arsenal of legislation, regulations and administrative practices to counter money laundering". Gibraltar has been classified as a co-operative tax jurisdiction by the Organisation for Economic Co-operation and Development (OECD) and the regulator has been ranked as 'A well developed supervisor' by the IMF.

Advantages: low withholding tax for countries with no double taxation agreements.

Disadvantages: withholding tax of 2.5%, limited number of pension administrators, non-EEA residents there is a 25% taxation upon transfer.