Trafalgar: A QROPs for European residents

If you have a QROPS in a different jurisdiction but live somewhere that does not benefit from a Double Tax Treaty (DTT) with your existing QROPS jurisdiction, a transfer to a Gibraltar QROPS may offer a more tax efficient option. This is because pension income payments from a Gibraltar QROPS are subject to a withholding tax of just 2.5% at source. As such, if you have an existing QROPS and are looking for a new provider, or are resident in Gibraltar with UK pension arrangements, Trafalgar could be the solution for you.

If you have a surviving spouse or dependant, your Trafalgar fund can be used to provide a continuing pension for them. Alternatively, the residual fund can be paid as a lump sum to your beneficiaries. You can indicate your preference in the Expression of Wishes section of the application form and this can be updated at any time by way of a separate form. If you elect for your Trafalgar fund to be wound-up after your death, any remaining balance can be paid out by the Trustee to your beneficiaries. No Gibraltar tax is due or payable at source on this lump sum distribution. Please note, if you are UK resident/recently resident on death, there may be UK tax applicable to this lump sum distribution. In addition, the recipient could also be subject to tax on this distribution depending on their residency.

Investment management can either be self-directed by you or delegated to a financial adviser or investment manager. Investment can be made into collective investment funds, private portfolio bonds, investment bonds and other life assurance policies. Please refer to the Boal & Co investment guidelines for a full list of asset classes available under Trafalgar.