Latest Foundations News
STM Group delivers market leading no entry cost QROPS product with Prudential International
Tuesday 10 May 2011
Following its recent success in resolving the Gibraltar QROPS crisis, STM has selected Prudential International's range of funds to offer a lite QROPS. This is the first product to offer clients a transfer to a QROPS without entry cost. When coupled with STMs commitment to no exit penalties (as with all STM QROPS schemes), this provides a truly unique offering in what is becoming a crowded market place.
Read the full article about the STM & Prudential QROPS
STM Group resolves the Gibraltar QROPS crisis
For the last two years Gibraltar has had a voluntary suspension on accepting UK pension transfers due to negotiations with HMRC over local tax rates. Clients and providers alike have found this to be a very frustrating time with millions of pounds of pension transfers being held up, potentially lost to other jurisdictions.
David Erhardt, Pensions Director of STM Group has designed a new Gibraltar QROPS scheme which we are pleased to announce has been approved by the Commissioner of Income Tax in Gibraltar and recognised by HMRC in the UK as a Qualifying Recognised Overseas Pension Scheme (QROPS).
Whilst full details of the new scheme are being kept confidential for obvious reasons, it is the expertise on QROPS and the detailed knowledge of the Gibraltar taxation system that has allowed STM to lead the way in resolving the Gibraltar QROPS crisis.
Whilst existing schemes remain in a state of suspension, STM is the only provider currently able to transfer pensions from the UK to a Gibraltar QROPS. Due to its geographical location, Gibraltar is within close proximity to a large number of expats who are able to visit their pension trustees for a face to face meeting. A Gibraltar QROPS also offers some unique advantages over other jurisdictions and therefore is a welcome addition to the STM Group multijurisdictional QROPS Wrap and follows hot on the heels of the launch of the STM Malta QROPS.
For a confidential discussion about your pension, please contact David Erhardt on the details below:
E: david.erhardt@stmfidecs.gi
T: +350 200 52476
or visit www.stm-qrops.com to read more about STM Group QROPS
and download your free QROPS guide.
