The expectation of growing Qrops business in the EEA follows HM Revenue & Customs’ surprise imposition of a 25% overseas transfer change on transfers to foreign schemes in jurisdictions outside of the EEA.
Justin Caffrey, managing director of Harbour Pensions, said: “A key part of our strategy for 2017 is to focus on maintaining, supporting, and growing our introducer network, particularly within the EEA.”
Feifa chief executive Paul Stanfield said: “The overseas transfer charge announced in the recent UK Budget has focused much of the industry on the existing, and potentially increasing, opportunities in Europe. Harbour is well placed to assist our members against this backdrop and fits well with our existing pension affiliations.”
The relationship with Feifa members will be overseen by Rebecca Fleming, sales & marketing manager at Harbour.
Fleming said Harbour is prepared for an increased interest in the EEA Rops market: “The job of an adviser has certainly become more difficult, but when it comes to the overseas pension market, there remains many opportunities for advisers. Spain and France remain among the top global destinations for those that have accrued UK pension benefits; both countries have double taxation agreements with Malta”.
She added that Harbour is offering a competitive Rops fee scale to Feifa members.
