Scrap the 25% overseas transfer charge expats pay on QROPS pensions

Closed 443 signatures

What the petition asks

Expats pay the charge on moving pensions from the UK to a QROPS or between QROPS unless they live in Europe or one of 13 countries which have QROPS outside Europe, which is unfair to the thousands who cannot access a QROPS pension where they live

The overseas transfer charge discriminates against expats outside the EEA in a country which does not host a QROPS, making them pay a 25% exit tax on moving their pension fund from the UK to a QROPS to gain better financial terms. The charge is unreasonable as the rules punish QROPS members for financial planning when savers with other pensions, like Self-Invested Personal Pensions (SIPPs), can live in the same place as a QROPS saver and suffer no transfer charge on moving their fund

Timeline

19 Jan 2018	Petition opened for signatures
19 Jul 2018	Closed to new signatures

Key facts

Signatures 443

Status Closed

Opened 19 Jan 2018

Closed 19 Jul 2018

Follow this petition