For those resident in South Africa who have pension schemes in the UK or for those planning on becoming a resident of South Africa, there are significant tax advantages to transferring those schemes to a qualifying recognised overseas pension scheme (QROPS). In April 2006 it was announced by parliament that people with UK pensions who are, or will become non resident in the UK can move their pensions to a QROPS with the approval of HMRC. A QROPS is recognised by HMRC if it meets the following criteria: Is regulated as a pension scheme in the country in which.
