UK advisers sound alarm over Canada pension transfers

clock • 9 min read

A number of UK financial advisers are sounding an alarm over whether it is safe to permit clients to transfer their UK pensions into Canadian pension schemes, given the UK's requirement that foreign pension fund administrators assert that their scheme  won't permit scheme members who transfer their UK pensions abroad to access their pensions before the age of 55. Until last year, the UK didn't interfere when individuals transferred their pensions - typically via a "qualifying recognised overseas pension scheme", or QROPS, a pension transfer structure first introduced in 2006 - to a juris...

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