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A Qualifying Recognized Overseas Pension Scheme (or QROPS) is intended to facilitate the tax neutral transfer of eligible UK pension plans from the UK to a pension plan in the country where you are a tax resident.

Cidel is a regulated firm in Canada that works with you to transfer your eligible UK pension assets.

Our QROPS solution, is known as the Cidel Alternate Retirement Plan (CARP).

In addition to achieving tax neutrality, CARP is the only Canadian QROPS that offers its clients a multi-currency solution which allows you to retain your UK pension in sterling – no need to prematurely convert at unattractive foreign exchange rates.

In Canada, your age and the type of UK pension held determine your eligibility for a QROPS transfer.

QROPS, in Canada, is only available to qualifying annuitants between the ages of 55 and 71. The following UK pensions are typically eligible for QROPS transfers:

  • Defined contribution plans
  • Employer offered defined benefit plans
  • Funded public-sector defined benefit plans

You are strongly advised to obtain independent advice prior to transferring your UK pension assets to any QROPS.

To achieve tax neutrality, you must transfer your eligible UK pension to a QROPS and ensure you remain tax resident of Canada for at least 5 years*, following the transfer.

Upon receipt of your pension assets in CARP, Cidel will provide you with a tax receipt for Canadian income tax filing purposes.

*Year is defined as a full UK tax year.


Consolidation – you are looking to simplify your financial affairs by transferring your eligible pension to CARP, which is in the same country where you have, or plan to, retire.


Ease of Estate Planning – CARP accounts can facilitate a tax-effective roll over of your pension to your surviving spouse, upon your death. Holding your assets in CARP may also afford you protection against UK inheritance tax.


Flexibility – with a CARP account you can designate one or more beneficiaries. In addition, your funds are not locked-in and can be withdrawn under the same rules and regulations applied to a RRSP.


Inheritance – to ensure that, upon your and your spouse’s death, all remaining defined benefit assets are not lost and can be left to beneficiaries of your choice.


Credibility – Cidel is one of the few companies in Canada, authorized by CRA and recognized by HMRC, to provide a QROPS solution.


Choice of Currency – our multi-currency platform allows you the flexibility to retain your pension assets in sterling and/or convert to a choice of multiple currencies, at a time of your choosing.


Access to Investment Expertise – Cidel Asset Management offers a comprehensive suite of domestic and global solutions that encompass both proprietary and third-party strategies.


Customized Experience – your Cidel Wealth Consultant will work with you to understand your goals and objectives and create and manage an investment solution aimed to meet your needs.


Protection From Legislative Changes – transferring your funds to a CARP account Shelters your pension assets from future changes to UK tax or pension legislation.

Your Cidel Wealth Consultant will be pleased to help you with your QROPS / CARP questions.

Should you not yet have a Cidel Wealth Consultant, our QROPS team would be happy to assist. Please email or complete the form below:



Are you 55 or older?(Required)
Do you currently reside in Canada?
Aside from QROPS, please let us know which other Cidel services you may want to learn more about: