EFPG Diamond Personal Pension Plan

A Qualifying Recognised Overseas Pension Scheme (QROPS)

For those wishing to transfer UK pension scheme benefits out of the UK

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 or advanced investment options. For those looking for simplified investment only we offer a lower cost “Lite” version.

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 (£1.25m for the 2015-16 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 may be paid 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 UK tax charge will apply to funds passed on to beneficiaries on death provided you and the beneficiary of the death benefits have not been tax resident in the UK for at least five full consecutive tax years.


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 system.

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 - At a Glance

  • A Gibraltar Tax Office approved pension scheme
  • Accepts transfers from UK registered pension schemes
  • Low charges
  • 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%
  • Simplified and low cost investment funds using EFPG’s in-house investment strategy  
  • Alternatively a huge choice of investments and investment funds which can be chosen by you