Insights

QROPS Update 4th December 2023 TRANSFERS FROM UK SCHEMES TO QROPS/LUMP SUM BENEFTS – DEATH BEFORE AGE 75 It was announced in the Autumn Statement in November 2023 that a new ‘Overseas Transfer Allowance’  will  be  introduced  on  6th  April  2024.  This  will  be  equal  to  the  existing  Lifetime Allowance of £1,073,100 (or higher if the individual has LTA protections in place). This allowance will be used to cap the value of UK pension benefits