QROPS offshore pensions are still opening at the rate of one a day despite media reports suggesting the market is stalling.
The latest list of QROPS from HM Revenue & Customs has 13 added schemes taking the global total to 1,026 pensions in 29 financial centres.
Two weeks ago, when the last list was released, the 1,013 across 29 centres.
Providers are rapidly piling on the number of QROPS following a compliance crackdown by HMRC at the start of the financial year in April.
QROPS opens every day
Then, the total dropped by 410 from 1,342 pensions, while nine financial centres stopped listing QROPS.
The new list shows six QROPS added in Australia; three in the Isle of Man, and one each in Garmany; Gibraltar; Guernsey and Hungary.
The HMRC list is vital information for pension providers transferring funds from the UK to a QROPS and retirement savers as money cannot be switched to an offshore scheme not included in the listing.
QROPS providers must certify their schemes meet HMRC pension and tax rules.
The next HM Revenue and Customs QROPS List is scheduled for August 15, 2017.
For more information about QROPS and the benefits it provides, download the iExpats QROPS Guide or complete the Get Advice form.
View the latest itemised list of QROPS from HMRC here
QROPS List By Financial Jurisdiction
| Financial Centre | No of QROPS |
|---|---|
| Australia | 460 |
| Austria | 6 |
| Barbados | 1 |
| Belgium | 1 |
| Bulgaria | 3 |
| Denmark | 1 |
| EU Institution | 1 |
| Finland | 1 |
| Germany | 10 |
| Gibraltar | 41 |
| Guernsey | 31 |
| Hong Kong | 21 |
| Hungary | 2 |
| India | 13 |
| Ireland | 53 |
| Isle of Man | 253 |
| Jersey | 34 |
| Kenya | 1 |
| Latvia | 3 |
| Liechtenstein | 1 |
| Luxembourg | 2 |
| Malta | 34 |
| Mauritius | 2 |
| Netherlands | 14 |
| New Zealand | 31 |
| Norway | 1 |
| South Africa | 3 |
| Spain | 1 |
| Switzerland | 1 |
| Total: | 1026 |
Source: HMRC
The table shows the net number of schemes, accounting for new listings and removals since the publication of the last list.
