With an ever increasing ageing population, there are not enough young people paying into the state scheme to take care of pensioners. The likely result is a crack down on pensions schemes in the future and an increase in taxes (as we have witnessed already). Luckily for UK citizens, they can transfer their UK private pensions offshore to mitigate tax. The Qualifying Recognized Overseas Pension Scheme (QROPS) allows most types of UK private pensions to be transferred offshore. QROPS was designed with the intention of giving UK expats who aren't returning to the UK the option of moving their pension to a 'white list' country offshore such as Guernsey or the Isle of Man. Not only do you mitigate tax, but you don't need to purchase an annuity. This means that your whole pension fund is left to your spouse upon death and then onto your kids should your spouse pass away.
http://www.qrops-advisers.com
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