Tax-free transfer conditions

With regard to QROPS, attention should be paid to the following points:

  • The vested benefits account-holder must leave Great Britain permanently.
  • He must be able to provably justify his new tax residence in Switzerland.
  • This rule also applies to non-British nationals who were members of a British pension fund during their employment in the UK.
  • Once pension assets are transferred, they may not be withdrawn for ten full consecutive fiscal years.