In the wake of reports that banks do not offer enough information regarding offshore savings and alternative pension options, a new website has emerged that endeavours to give people all the information they need- QROPS Review.
According to a recent survey, 42 out of 50 expats were left in a state of confusion after asking banks and other financial institutions for advice regarding offshore accounts and pensions. 39 of the confused 42 also felt that the bank or institution could have been more clear in the advice they gave.
According to The Telegraph various participants of the survey also voiced their annoyance at the lack of information. One woman said: “I went to my bank in the UK before I moved to tell them I was changing my address and they didn’t blink. They didn’t tell me I needed an offshore bank account, and it was only when my husband’s accountant told us that everything changes when your tax status changes that we started to look into it.”
She added: “I didn’t know anything about offshore pensions until I read about QROPS on the Internet, and I had no idea we could manage our money differently once we were living abroad. I really had no idea where to start."
However a new website is seeking to assist people in this kind of situation by offering a wealth of information and advice on offshore and retirement planning, specifically QROPS. QROPS Review is a new advice firm that has been set up by finance experts and advisers who recognised there is a lack of information about QROPS and pension matters for UK expatriates.
The handy site contains a wide range of information for people interested in QROPS. QROPS Review, also offer a professional planning service for expats who wish to move forward with their pension plans. Learn more by visiting www.qropsreview.com.