Rupee's fall is advantages for those who wish to get their UK pensions transferred to QROPS in India

 Indian Rupee has further worsened against major currencies like USD, GBP, EURO etc. From January 2018 to June 2018 Rupee has fallen about 8% against USD. Most of the Export orienated companies from India like India based I.T companies are gaining big profits as they are getting paid via USD. I mean after getting their fees converted from USD to INR, the amount of the fees paid in USD for their exported services get almost 8% increased in INR.


It is not the different case, when it comes to GBP vs INR. Today's Live Rate is as follows:


1 GBP  = 88.9990


Best Retail Rate would be: 1 GBP = 87. 9310 INR & the


Indicative Bank Rate would be: 1 GBP = 86.5070 INR


https://www.poundsterlinglive.com/best-exchange-rates/british-pound-to-indian-rupee-history


It is not only for the Export oriented Indian companies that they can use this Rupee fall for their advantages, it is also Individual India based United Kingdom(UK) residents, like NRI/PIO/OCI's can make this Rupee fall for their advantages.


India based UK residents usually accumulates pension corpus while working in UK & most of them get their accumulated UK pensions transferred to a 'Qualifying Recognised Overseas Pension Scheme' in India to avail tax advantages as well as to gain from Indian Economy's growth. This scheme is popularly known as QROPS. QROPS is recognised by Her Majesty Revenue & Customs(HMRC) in UK.


Also, most of the NRI's choose Qualifying Indian Pension Scheme for their regular pension savings whilst working in UK. Since recent years, UK NRI's has been choosing Qualifying Indian Pension Scheme over UK's pension scheme for their regular pension contribution whilst they are working in UK. So that they will be able to contribute upto 40,000 GBP * in a financial year & get tax relief in UK for the pension contribution made in Indian Qualifying Scheme. Please note this is nothing to do with QROPS scheme. 


This is the Golden time for India based UK NRI/PIO/OCI's to explore both the Investment options from UK (QROPS as well as Contributing upto 40,000 GBP* to Indian Qualifying Pension Scheme). This is the right time to get their UK pensions transferred to a QROPS in India as they benefit from the best Exchange rates from this falling INR before UK's GBP. One can avail the Exchange rate  benefit upto 8 to 9% on the transferred UK pension corpus due to this falling INR before GBP


We wish to schedule a free, no obligation telephone or Email consultation to discuss ways we can help yourself and any of your colleagues. You can reach us with the following contact details.
Mr Ravi Kumar. Financial Consultant (Code: 60272381, QROPS Consultancy),

A&B Law & Financial Associates, No-2720, 12th, Main, Jayanagar 4th Block, Bangalore-560 011

Cell: +919844519872

Email: ravi.sampige@gmail.com




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