Key Points UK QROPS transfers to Canada are currently permitted (as of 2023) You must be age 55 or older to qualify to transfer a pension scheme Certain pension schemes are not eligible for a transfer Transfer process can be complicated and timely – work with a professional Pension funds are converted to Canadian Dollars

Key Points Withdrawals from a QROPS RRSP are 100% taxable as income Withdrawals from a QROPS RRIF are 100% taxable as income At age 71, you must convert your RRSP to a RRIF You must be age 55 or older to transfer a UK pension to Canada All withdrawals are reported to HMRC for 10

If you have moved to Canada from the UK permanently, but still have a previous private employer pension in the UK, you may be wondering what the key benefits of transferring it to Canada are. There are several key benefits to transferring a UK pension to Canada, including: It’s important to note that there are

Key Points You must be age 55 or older to transfer a UK pension to Canada Pension values over £30,000 must be reviewed by a UK advisor Transfer process can be complex – use a professional Non-state UK pensions can be transferred to Canada Not all UK pensions can be transferred to Canada QROPS –

Key Points – QROPS can be transferred to Canada as of January 2023 – You must be age 55 or older to qualify – There are many attractive benefits to transferring your pension – Consult with a professional before making a decision to transfer QROPS Overview QROPS (Qualifying Recognised Overseas Pension Scheme) is a type

Key Points Strata Wealth specializes in transferring UK pension schemes to Canada There are many advantages to transferring a UK pension to Canada You must be age 55 or older to qualify for a transfer of pension funds You can simplify your retirement income by having your pension in Canada For many UK expatriates living

Key Points Segregated funds combine the features of mutual funds and insurance contracts Built-in principal guarantees and death benefit protection Popular choice of investment for UK pension transfers to Canada Bypasses probate fees at the time of death and goes directly to beneficiaries Industrial Alliance is qualified to offer segregated funds for QROPS A segregated

Key Points QROPS are more regulated by the UK compared to Canada HM Revenue & Customs regulates QROPS in the UK Each province regulates QROPS individually in Canada You must be age 55 or older to transfer a UK pension scheme to Canada Seek professional tax and financial advice before transferring a pension scheme QROPS

Key Points 5 year rule is applicable to UK pensions transferred to QROPS in Canada UK taxation could occur if you are still a UK resident within 5 years of making a withdrawal This rule is in place to discourage tax avoidance Always seek professional advice when transferring a UK pension to Canada A Qualifying