Tammy Campbell

TAMMY CAMPBELL, EPC
Consultant
Investors Group
Financial Services Inc.

Tower 1
207-7001 Mumford Rd
Halifax, NS, B3L 4N9
CANADA

Phone (902) 423-8294 ext 248
tammy.campbell@investorsgroup.com
http://www.investorsgroup.com/consult/tammy.campbell/english

Email Tammy Campbell

Investors Group

Whether you are an expat or considering leaving the United Kingdom, the information on this web page is essential.

Investors Group Financial Services is one of the first financial institutions in Canada to arrange for the approval of a "Qualifying Recognized Overseas Pension Scheme" (QROPS) from the UK taxation authorities, and is a QROPS administrator.

Investors Group has a wealth of experience in all areas of financial planning for both individuals and businesses and has provided advice to many clients on the benefits of moving their UK pensions to Canada.

I have extensive personal experience in transferring QROPS pensions from England, Ireland, as well as Scotland and will be pleased to meet with you on your research trip to Nova Scotia. Together we'll work through your questions one on one and I'll remain in contact with you after your trip.

For a complimentary no obligation review of your UK Company or Personal Pension transfer, please contact me directly at (902) 423-8294 ext 248, or by email: tammy.campbell@investorsgroup.com

Should You Transfer Your UK Pension to Canada?
What are the benefits?

There are many things to think about when considering transferring your UK Pension to Canada, some of which are:

  • You'll have full control of your funds and won't be forced to deal with your present pension provider half-way around the world.
  • You won't have to worry about what may be happening with your overseas pension company - is it healthy, merging, collapsing, or disappearing?
  • It is possible to access up to 30% of the funds now!
  • Exchange rate fluctuations and transaction charges will not erode your pension payouts when you retire. You will be able to diversify your pension arrangement away from British Pounds and Euro's.
  • Ability to use some of your pension funds to purchase your first home in Canada or to pay for continuing education to a qualifying institution.
  • The need to buy an annuity is removed. You will no longer have to purchase a UK annuity by age 75. Annuity rates are currently at low levels compared to the historical rates and you may decide it is better to manage the money in your own investment account.
  • Your investment does not die with you; it may be passed on to your beneficiaries, including your children.
  • The funds can be transferred directly to a Canadian "Registered Retirement Savings Plan" (RRSP). An RRSP is a savings vehicle which will defer/shelter taxation until you being to draw upon it. As a condition of the transfer, UK authorities stipulate that 70% of the transferred assets must be used to provide lifetime retirement income. As such, 70% of the assets will be transferred to a "Locked-in RRSP" with the remaining 30% transferred to a regular RRSP.
  • As early as age 55 you can convert the Locked-in RRSP into a Life Income Fund and start drawing income from it, or you may purchase a life annuity contract which is the only option you would have had in the UK.
  • If you were to pass away, the full amount of this Canadian RRSP could be rolled over to your spouse with no tax consequences. (Spousal rollover) If left in a UK Pension Scheme usually a maximum 50% spousal pension is paid or in some cases all benefits cease.
  • You may begin to draw on your pension at age 55 and it is not subject to the UK inheritance tax.
  • Investors Group does not charge an annual administration fee, nor do we charge you a fee to facilitate the transfer from the UK.
  • Retirement planning allows consolidating several smaller UK pension funds into a single QROPS pension.