With April 6th fast approaching and the new "freedoms"
in UK pensions becoming available, Statutory Instrument 673
governing QROPS was issued.
The instrument qualified what QROPS would and would not be able
to do and focused much attention on whether QROPS would be allowed
the same 'freedoms' as
UK schemes.
Extracts below from an article written by Ruth Gillbe at FT
Adviser published on Friday 27th March seems to confirm
that only
Malta (and other
EU member states) will be allowed to offer the same options in
the way of pension payments as the UK, and that for the time being
at least, Gibraltar, Isle of Man, Channel Islands etc will be
prohibited.
'A statutory instrument passed in the House of Commons
earlier this month reversed a previously stated policy intention to
allow qualifying registered overseas pension schemes from mirroring
the flexibilities being granted in the UK from next month.
