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Did You Know?

Your RRSP contribution limits are not affected even if you deposit a large amount from a recognized UK pension plan to a Canadian QROPS.

If your UK pension plan is recognized as a company pension plan in Canada, when you transfer it to a special type of RRSP in Canada you will receive what amounts to a one-time increase in the RRSP contribution limits.  You declare the amount transferred as income on your Canadian tax return and then take a deduction for the contribution to the RRSP. The net result is no tax while the funds remain in the RRSP and you can continue to make annual RRSP contributions in accordance with the government rules.

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Give us a call or fill out our online assessment and we would be happy to explore if you are eligible to transfer a UK pension and whether or not it makes sense for you.

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Speak to a QROPS expert.

Call 1 (888) 504-4042.

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Did You Know?

If you are going to retire in Canada and you have a Defined Benefit Pension in the UK, life might be better if you transfer the funds to Canada.

Your retirement expenses will be growing in line with Canadian inflation (which could be quite different from UK inflation). So a transfer out into a QROPS may be a better fit with your retirement plans.
Did You Know?

Understanding pensions and their terminology requires large doses of Alphabet soup.

QROPS, HMRC, RRSP, CRA, DB, DC - find out what it all means.
Did You Know?

You might need advice before you are allowed to transfer a UK Defined Benefit pension plan.

To protect you from fraud the UK’s tax authority – HMRC – will not allow trustees to transfer a DB pension with a value of £30,000 or more without the advice of a consultant regulated by the FCA.