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At retirement 25% of the pension assets can be withdrawn as a tax-free lump sum (subject to HMRC lifetime allowance limits) provided that it is five years after transfer into a QROPS.
When a member of the scheme reaches retirement age they can draw down a regular income from the QROPS for life. The Trustees would provide an actuarial calculation of the benefits payable.
You cannot transfer a UK state pension into a QROPS.
It is not open to UK resident individuals and there may be restrictions on participation for certain countries (e.g. the U.S.A.)
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