Up to 25% of your total fund may be taken as a tax-free lump sum. You will not be required to purchase an annuity or an ASP or Alternatively Secured Pension with your QROPS pensions.
Benefits can be taken at 50 years of age provided that you qualify as a non-UK resident for a minimum of 5 complete tax years. From April 2010 the legislation is changing, increasing the minimum age to 55 for all international pensions, however under certain circumstances it may be possible to take benefits before you have reached this age.
You can also, if you so wish, receive a regular monthly income, which will be paid directly into your bank from the QROPS pensions fund. Payments can, in the main, be made in the currency of your choice giving you the flexibility to manage your money as you like, taking into consideration certain variables such as exchange rate fluctuation etc,one of the benefits provided by international pensions.
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