What are QROPS Exit Penalties?
Many QROPS trustees that we have encountered charge a high exit fee. On top of this, they can make it difficult for expats to receive the transfer out paperwork. It would enable the members to move to a different trustee or to a different solution altogether. Moreover, in the majority of cases, we have seen the underlying funds used are expensive. This is due to the commission they pay out to advisers which also causes long selling periods when looking to rebalance the client’s portfolio.
To find out more, you can read our blog post.