What we offer

QNUPS (Qualifying Non-UK Pension Scheme)
QNUPS (Qualifying Non-UK Pension Scheme)
Offshore Pension

What is a QNUPS?

A QNUPS is Qualifying Non-UK Pension Scheme which was introduced by the UK's HMRC in 2010.

Who can benefit from a QNUPS?

QNUPS for offshore UK expats

  • A high net worth individual (HNWI) living overease who wants to make pension provision. This could be because they have little or no pension provision. They may not have access to an international pension pkan. e.g. no company pension and/or no/small UK pension
  • An employer wishing to contribute to a pension on behalf of an employee as a form of offshore pension plan

QNUPS for UK residents

  • A UK pension fund that is close to, or with growth, could exceed the lifetime allowance (currently £1,073,100).
  • A client wishing to add to their pension without a (lifetime allowance charge of 55%) upon taking their UK pension.
  • The maximum £40,000 annual allowance is used (assuming no allowance restrictions) and 3 previous tax years annual allowances all used.
  • A supplement to a pension for a client who does not have sufficient relevant UK earnings.

QNUPS tax advantages

There are several tax advantages of using a QNUPS as part of your retirement and estate planning.

  • Unlimited pension contributions
  • No 20% chargeable lifetime transfer tax on contributions
  • No lifetime limit
  • Tax free investmemt growth
  • Up to 30% tax free cash lump sum
  • No UK inheritance tax saving 40% tax
  • No HMRC reporting requirements
  • 100% of a QNUPS can be passed to beneficaries

QNUPS rules

A QNUPS should be set up for the purpose of providng an income in retirement. Contributions to the pension plan should be in proportion to an individual’s retirement income needs, and this should be evidenced when setting up your pension.

Read more below with our QNUPS Frequently Asked Questions (FAQs)

QNUPS Frequently Asked Questions
Qualifying Non-UK Pension Schemes

Read our FAQs (Frequently Asked Questions) on QNUPS and discover the different ways you can use this type of offshore pension plan to provide for your retirement and protect your family from UK inheritance tax.

If you’re looking for a QNUPS provider, we work with the world's leading trust companies giving you peace of mind that your pension money is safe and secure. Capital for Life can also help you choose a policy from the world's largest life insurance companies to give you the retirement income you need and the life cover you want.

Speak to an adviser and get a quote now and enjoy peace of mind, knowing that you’ll be looked after by one of the leading life insurance brokers in Africa.

  • What investments can I hold in a QNUPS?

    A QNUPS can hold a wide variety of different assets including cash, direct shares and bonds, funds, ETFs as well as more unusual investments like life policy's, structured notes and property.

  • When can I take an income from a QNUPS?

    Taking an income from a QNUPS depends upon which country your pension plan is situated.

    A Guernsey QNUPS allows scheme benefits to be taken from age of 55 onwards.

    A Malta QNUPS allows commencement of pension benefits from age 50 onwards.

  • Where will my QNUPS pension be held?

    Capital for Life uses a leading global trustee based in Guernsey for its QNUPS provider.

  • How to choose a QNUPS provider?

    Clients and advisers can choose a QNUPS provider. Which trustee you use for your offshore pension plan will depend on the rules and regulations of QNUPS in the country your QNUPS provider is based. Other factors to consider when choosing a QNUPS provider include:

    1. Costs and charges of a QNUPS provider
    2. Types of investment the QNUPS trustee can buy and hold
    3. Scheme member benefit age of 50 or 55 years old
    4. Experience and size of QNUPS trustee
  • Can I transfer a QROPS to a QNUPS?

    You can transfer an existing QROPS to a QNUPS under certain circumstances and if your existing QROP pensions scheme rules allow.

    Both QNUPS and QROPS are overseas pension schemes, and many QROPS also qualify as a QNUPS meaning transfers can take place.

QNUPS from Capital for Life
Leaders in QNUPS Life Insurance Solutions

The best international life insurance solutions for high net worth clients investing into a QNUPs. Working with our appointed advisers we design life policies specifically for you and your needs.

  • Why use Capital for Life for your QNUPs?

    Your offshore pension will be one of the largest assets you own. Our QNUPS provider is a leading global trust company meaning you know your pension will be safe and secure. Our life policy solutions for QNUPS are from the world's largest insurers.

    Speak to your financial adviser or directly to us about the QNUPs options you have and the benefits for you.

    Email us at enquiries@capitalforlife.com and we will be ready to assist you.

  • Can I take QNUPS advice?

    Yes, we recommend individuals considering a QNUPS should take advice. Capital for Life can refer you and your adviser to offshore pension tax advice specialists.

  • How to contact Capital for Life for QNUPS?

    Speak to a Capital for Life appointed adviser in your country or directly to us about the options you have for using a life policy in your QNUPS offshore pension. Email us at enquiries@capitalforlife.com and we will be ready to assist you.

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