Can a client transfer into a QROPS once receiving benefit?
Our preferred panel of providers will accept the transfer of pension schemes that are already in drawdown unless the client is receiving guaranteed annuity payments that have been set up via a life insurance company. Benefits already received by the client at the time of transfer will be taken into account when assessing the benefits receivable under the new Plan. Further lump sum payments where the client has already received such a benefit will not be considered regardless of the tax residency of the client.
