The EFPG Diamond Personal Pension Plan Scheme

A Qualifying Recognised Overseas Pension Scheme (QROPS) - for those wishing to transfer UK pension scheme benefits out of the UK

Before transferring from a UK registered pension scheme EFPG very strongly recommends that you take suitably qualified financial planning advice.

The EFPG Diamond Personal Pension Plan

  • is designed primarily to accept transfers of pension funds from UK registered pension schemes

  • is tax approved by the Commissioner of Income Tax in Gibraltar. In addition the Diamond Personal Pension Plan Scheme meets the conditions set by HMRC in the UK to qualify as a Qualifying Recognised Overseas Pension Scheme (QROPS)

  • offers low cost and efficient administration and a choice of simplified (Lite) or advanced investment options

  • is an open architecture Scheme that allows for flexibility in investments and how they are managed and held

Advantages of a QROPS

If you are leaving or have left the UK, a QROPS allows you to also transfer your UK pension out of the UK.

QROPS are available in a range of currencies so the effect on investment values and pension payments of both short and long term currency fluctuations and foreign exchange charges can be mitigated.

As a transfer to a QROPS is a ‘benefit crystallisation event’ this ensures that a large pension fund will not be subject to the Lifetime Allowance (£1.03m for the 2018-19 tax year).

Whilst UK pensions can offer a very wide choice of investments a QROPS may enable investment in assets which more fully meet your revised circumstances and expectations in terms of currency, market and local economic factors.

Income tax on pension payments can be more conveniently managed and may be at a lower rate from a QROPS than if pension payments are made from a UK registered pension scheme.

No tax charge will apply to pension funds passed on to beneficiaries on death prior to the age of 75.

Why Gibraltar?

Gibraltar is an attractive jurisdiction that is English speaking and which is similar to the UK with respect to the time zone, and the legal and financial regulatory systems.

Gibraltar is in the EEA and can therefore accept transfers in for residents of other EEA jurisdictions without the 25% overseas transfer charge being applied by HMRC.


EFPG has established terms of business with a number of stockbrokers, private banks, platforms and bond providers in several of jurisdictions to cater for a diverse range of client investment preferences. Our open architecture Scheme benefits from these arrangements.

EFPG’s staff have a broad range of in-depth knowledge gained from managing life companies, working in the fund management industry, company management, accountancy and audit as well as having fully qualified financial advisers and two members of staff with legal qualifications. Our administrative personnel and systems are also first-rate.

EFPG also has an estate agency which can be used to facilitate property transactions and local property management.

EFPG has established relationships with UK legal companies to facilitate any UK requirements such as conveyancing or the setting up of special purpose vehicles.

EFPG has very close connections with top-flight UK and Spanish tax advisers.

The EFPG Diamond Personal Pension Plan - At a Glance

  • A Gibraltar Tax Office approved pension scheme

  • Accepts transfers from UK registered pension schemes

  • Simple low charge fee structures

  • Available to individuals aged 18 to 74

  • Benefits can be taken at any age between 55 and 75

  • Up to 30% of the fund can be taken as a tax-free lump sum, the balance of the fund is payable as lifetime income on which Gibraltar income tax is payable currently at the rate of 2.5%

  • A dedicated administration team

  • A huge choice of investments and investment funds which can be chosen by your adviser or yourself

Please see the Fee Schedules and Key Facts Document in our download area

Contact EFPG