QROPS as a non-UK citizen

I have a Gibraltar QROPS. I have recently renounced UK citizenship and acquired another citizenship. Does this affect my QROPS?

Hi Peter Douglas,
It depends on where you have moved to.
You will need to advise the pension company:
Transferring your pension
Thank you. 

Hi, thanks for this service... I left the UK in 2001 and been in Australia for 24 years with no intention to return to the UK permanently. I transferred my UK personal pension 2 years ago into a QROPS pension in Australia. I am 63. Do either the 10 or 5 year rules apply in my instance? From what I read I think only the 5 year rule applies? Thanks for any help ,Dave

Hi,

The five year rule was introduced when QROPS were first established in 2006. It applies to the first five years of your residency status if you transferred your pension to a QROPS before 6 April 2017. Ultimately, you must have been UK non-resident for five consecutive tax years ahead of retiring or beginning to draw from your QROPS.

Transferring your pension into a registered QROPS scheme triggers a 10 year reporting requirement. During this period any unauthorised withdrawal has to be shared by your QROPS provider to the British tax authorities. An unauthorised withdrawal is categorised as taking funds or benefits from your pension before the age of 55 years old.

Thank you.