QROPS was first introduced in 2006 and it has been a welcome relief for many old age pensioners who wanted to live their retirement in the sun. The abbreviations extend to Qualifying Recognized Overseas Pension Schemes. This type of pension is helping thousands of UK citizens that have reached retirement age, to live their dream life abroad. Many old age pensioners wish to move to a foreign country to enjoy their last years. The cost of living and poor weather in the UK are the main reasons but previously old age pensioners were paying high costs to move their pension abroad.
There were high extra charges involved but the QROPS Pension stopped all these extra charges and made it easier. QROPS pensions are recognized by the government in the UK and are worth looking into, if you want to retire to sun, sand and sea. If you are a married couple, then signing up as a couple will bring special rates and advantages. This type of pension has been a long awaited for relief for many old age pensioners, and with travel now easier than ever before, it set to be popular in the future as well.