A heartening decision for pension investors

A group of pension investors who set up schemes in Singapore will be cracking open the champagne. Tim Bennett explains why, and what their victory over HM Revenue & Customs means for you.

For anyone who likes watching the taxman squirm, this has been a good week: 122 pension investors who set up 'qualifying recognised overseas pension schemes' (QROPS) in Singapore will be cracking open the champagne. Here's why, and what their latest victory over HM Revenue & Customs means for you.

Firstly, for the uninitiated, what is a QROPS? These date back to 6 April 2006 dubbed A-Day' when some pretty meaty reforms swept through UK work and personal pensions. Among the changes was one that was designed to benefit the thousands of British expatriates either living abroad already, or planning to once they hit retirement age.

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.