Contact us

International code *
Country *

Note: fields marked with a * are mandatory.

Saving for Retirement

At deVere Austria, part of the deVere Group, we take pride in helping you plan for your financial future. Our expert advisers will explain the available options and suggest the best way forward in order to start reaping the benefits from your savings. deVere Austria specialises in smart, efficient planning solutions, helping you maintain the standard of living you require.

We have advisers who will assist you and provide impartial, specific retirement planning based on your requirements. Our advisers will also answer any questions you have regarding retirement planning, including but not limited to:

  • When should I start saving?

  • What are the implications of delaying my savings?

  • How much should my contributions be?

  • Am I contributing enough?

  • How much am I likely to receive?

  • Can I be more tax efficient and pay more in?

deVere Austria's specialists will also analyse your current financial situation and suggest the most appropriate recommendations to cater for your retirement plan. Some of the options we offer include:

  • Self-Invested Personal Pension Schemes (SIPPS)

  • Qualifying Recognised Overseas Pensions (QROPs)

  • Qualifying Non-UK Pensions (QNUPs)

  • Trustee Schemes

  • Transfer Plans

  • Regular savings plans

 

Drawing Pension Benefits

Once retirement closes in, you should be able to enjoy the fruits of your labour. You can do this by considering the options on offer in terms of the pension you have accrued. Taking your retirement benefits is one of the more vital decisions you will ever make and therefore, it should not be taken lightly. For this reason, it is important that you receive expert, impartial advice in this area from a qualified pension specialist who will take your circumstances into account and proceed to ensure the right decision is taken.

Most people view retirement as the longest holiday of their lives. At deVere Austria, part of the deVere Group, we are here to make sure you make the most of your retirement. We will help you plan for the future and understand all the options on offer when you choose to begin withdrawing the benefits from any UK and overseas pension.

When you are ready to take the benefits, we are here to answer the following questions:

  • Should I take the Pension Commencement Lump Sum (PCLS) available?

  • Do I buy an annuity or enter into a drawdown contract?

  • What are the options for my spouse/partner?

  • Can I make provisions for when I die?

  • What are the benefits of the Austrian pension system? (INPS)

As a fully independent advising body, deVere Austria is not tied to any one service provider. We are able to search the entire marketplace to choose the right solution for you.

Contact deVere Austria today to find out more about retirement planning.


QROPS

What are QROPS?

A QROPS (Qualifying Recognised Overseas Pension Scheme) is a pension transfer scheme that is recognised by HMRC and meets certain conditions and standards equivalent to a UK pension. Therefore, any UK pension can be readily transferred into an overseas scheme, provided that the overseas scheme is registered with HMRC as a QROPS. The rising profile of this scheme is a consequence of UK pension rules introduced by HMRC on April 6th, 2006. The scheme must also meet the requirements of the jurisdiction in which it is domiciled.

Is a QROPS suitable for me?

A pension transfer is suitable for you if you have a UK pension, have left the UK, plan to leave, or are a resident but not UK domiciled. Obtaining professional financial advice is vital to ensure that you do comply with the rules.

Why should I choose a QROPS?

Qualifying Recognised Overseas Pension Scheme is an overseas pension scheme into which UK pension rights can be transferred. However, QROPS also provides control over where your pension fund is invested. The scheme also allows you to consolidate a number of pensions into one QROPS and does not require you to buy into an annuity.

More importantly, it allows you to leave the remaining fund to your beneficiaries without any deduction of UK tax upon death.

What are the key benefits of a QROPS?

  • Annuity: A QROPS does not force you to buy an annuity

  • Funds passed to beneficiaries in full after death: after completing 5 full tax years of non UK Tax residency, your pension will no longer be liable to UK income tax or death charges of up to 45%

  • Flexible currency choice: your assets within your QROPS can be paid to you in a currency other than sterling, thus mitigating FX costs

  • Up to 30% pension commencement lump sum

  • Your pension income can be paid gross, depending on the jurisdiction used

  • Secure jurisdictions

  • Transparent charges

  • Succession planning

  • Pensions can be consolidated in to one

  • Free from UK lump sum death benefit charge

 

Which is the best QROPS jurisdiction for me?


Following the Finance Act 2012, the QROPS jurisdiction of choice for Austrian residents is Malta, in terms of it being highly-regulated, its sophisticated tax system and as an integral EU member.

 

Please note if you become resident outside of the EEA within 5 years of the transfer to a EU QROPS, there is likely to be a retrospective tax charge.

 

To find out more about QROPS, speak to the experts at deVere Austria. Contact deVere Austria today.

Media contact

deVere Austria's Public Relations Department deals with all areas of the media and external communications including international, national, regional, local, trade, consumer, print, broadcast, social and online. The Department aims to provide a helpful service to journalists, broadcasters and editors, amongst others, and reply to all media enquiries, including urgent enquiries out of hours, within agreed deadlines. Our press office does not have access to client details and will not be able to assist with individual client enquiries. Please contact deVere Austria's Head of Public Relations on george.prior@devere-austria.eu or call +44 2071220925.