Monday, February 24, 2014

NHS Pension Transfer to India

 

Here is a great opportunity for Indians to transfer their UK Pension to QROPS (Qualifying Recognized Overseas Pension Plan).


As per HMRC list of QROPS, HDFC Life has registered five Pension Schemes in October 2013.

http://www.hmrc.gov.uk/pensionschemes/qrops.pdf 
HDFC Life Guaranteed Pension Plan
HDFC Life New Immediate Annuity Plan
HDFC Life Pension Super Plus
HDFC Life Personal Pension Plus
HDFC Life Single Premium Pension Super

Out of the above 5 plans, two plans are suitable, depending upon your retirement needs. If you are looking for an immediate pension, then HDFC Life New Immediate Annuity Plan will be suitable. Guaranteed pension for life and capital refund for the nominee. Pension will be given at a rate of 7.5% to 8.23%, depending upon the option you choose.

If you want to transfer your UK Pension Fund to India however want to deffer your pensions until your retirement age (for ex. 60), then HDFC Life Single Premium Pension Super will be ideal for you. Your money gets invested in this plan and grows as per the fund performance. At the time of retirement, you can withdraw upto 33% lumsum as tax free and remaining amount will be used to get pensions through annuity plan.

Please refer to the Example for HDFC Life - QROPS, under this blog.

Get an independent and unbiased advice on QROPS with no obligation
For more details please feel free to contact us.

www.qrops-adviser.in  

Saurav Dutta (consultant) :Ph +91-9891910578.  

Pushpa Priya (Sr.consultant) : Ph  +91-9891910569.


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NHS Pension Transfer to India

Transfer Your UK Pension to SBI Life - Annuity Plus


Here is an opportunity for you to transfer your UK Pension to SBI Life - Annuity Plus plan.


As per HMRC list of QROPS, SBI Life has registered SBI Life - Annuity Plus plan in October 2013. It is an immediate annuity plan which gives you guaranteed pensions.


http://www.hmrc.gov.uk/pensionschemes/qrops.pdf
Please find below an example of how this plan works.
Mr. Kumar, is 57 years old, worked in the UK for 8 years, accumulated a pension pot of  £100,000. He wants to retire in India, hence he transferred his pension to SBI Life - Annuity Plus. The amount got converted to Indian Rupees. Considering an exchange rate of £1= ₹100. This amount became ₹1 crore.


One time govt. service tax of only 3% deducted and rest  ₹97 lacs got invested in the plan. Mr. Kumar started getting pension of ₹7,80,000 p.a. This amount is fixed and guaranteed for lifetime, there after Mrs. Kumar will receive the same amount of pension, throughout her life. The capital of ₹97 lacs with we refunded back to their nominee.


There are 14 different options available in this plan to take your pensions. You can choose the one which suits you best as per your retirement needs. The annuity rate will vary from 7.5% to 8.23% depending upon your age and the option you choose. Also, there are no charges involved in this plan.
Note: For complete details, please refer to the product brochure.
http://www.sbilife.co.in/sbilife/images/File/documents/AnnuityPlus_Brochure.pdf

Get an independent and unbiased advice on QROPS with no obligation

For more details please feel free to contact us.

www.qrops-adviser.in

Contact Us : contact@qrops-adviser.in
Saurav Dutta (consultant) :Ph +91-9891910578.  
Pushpa Priya (Sr.consultant) : Ph  +91-9891910569.

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