QROPS, pronounced, I am advised, Queue-Rops, look set to be quite popular with the more mobile retirees.  If you have not yet heard of them, you are hardly alone but I would expect much to said of them in years to come.

QROPS stands for a Qualifying Recognised Overseas Pension Scheme and is recognised by HMRC for the purposes of receiving transfers in from UK pensions.  There is, as you would expect a bit more to it, but UK legislation allows for those resident overseas to shed many of the restrictions imposed on UK pensions, such as the requirement to provide an income for life and where the funds are invested.  Members may be able to take the whole fund as a cash sum or purchase residential property, for example.

It pays to take advice, of course, because it may be a case of out of the frying pan into the fire, some tax regimes are nowhere near as generous as the UK.  For some, though, particularly the better off, the prospect of getting their mitts on the whole of the fund will be extremely tempting.