QROPS List – August 15, 2013

QROPS List – August 15, 2013

The international QROPS market was boosted to yet another new peak, according to the latest HM Revenue and Customs list of pensions.

Providers have added 417 QROPS to the list in the past 12 months – taking the total number of QROPS pensions worldwide to a record 3,115 based in 46 different nations.

The financial centres adding the most QROPS in the year are:

  • Australia – 254
  • Ireland – 67
  • Guernsey – 31
  • Isle of Man – 25
  • New Zealand – 15
  • Gibraltar – 10

The financial centres that have closed the most QROPS are:

  • Learn more about QROPS

    Find out more information about the basic features, benefits and advantages of QROPS to help decide if the scheme is right for you.

    Read our in-depth guide to QROPS here

  • Slovakia – the nation lost QROPS status and four pensions were delisted
  • Hong Kong – 23 pensions delisted
  • Finland – 4 pensions delisted
  • Switzerland and USA – Both had one pension delisted

Market changes

Australia has the most QROPS schemes – 1,212 making up nearly 39% of the market.  Ireland (720 pensions/23% market share) and the Isle of Man (224 pensions/7% market share) take second and third places.

The figures come from the latest official QROPS list published by HMRC on August 15, 2013.

The next list is due on September 1, 2013.

The QROPS list is important to retirement savers and UK pension providers, as they may only transfer tax-relieved pension funds from the UK to a QROPS on the list.

However, HMRC points out that scheme on the list are self-certifying QROPS status and are not HMRC compliant or approved.

The full list country-by-country is:

Country
Scheme Count
Change
%
Grand Total269831023115417
Aug 17, 2012Aug 1, 2013Aug 15, 2013
Australia9581204121225438.91%
Austria99900.29%
Bangladesh11100.03%
Barbados44400.13%
Belgium22222200.71%
Bulgaria33300.10%
Canada92999863.15%
Czech Republic44400.13%
Denmark88800.26%
European Union11100.03%
Finland844-40.13%
France36393931.25%
Germany53565631.80%
Gibraltar101920100.64%
Greece11100.03%
Guernsey184849311.57%
Hong Kong2522-230.06%
Hungary11100.03%
Iceland33300.10%
India18191910.61%
Ireland6537217206723.11%
Isle of Man199224224257.19%
Italy39454561.44%
Jamaica22200.06%
Jersey13213513534.33%
Latvia01110.03%
Liechtenstein22200.06%
Luxembourg88800.26%
Malaysia11100.03%
Malta8161680.51%
Mauritius22200.06%
New Zealand334848151.54%
Norway57720.22%
Portugal23232300.74%
Russian Federation11100.03%
South Africa30313221.03%
Spain14161620.51%
Sri Lanka11100.03%
St Lucia33300.10%
St Vincent & The Grenadines11100.03%
Sweden68820.26%
Switzerland139135138-14.43%
The Netherlands9910410453.34%
Trinidad & Tobago33300.10%
Turkey33300.10%
USA161415-10.48%

Source: HMRC

Getting Advice

A financial adviser with QROPS experience will determine whether a QROPS is the best choice for your financial goals, then will guide you through the process.

To be put in touch with a qualified financial adviser, please contact us via the contact form here for a referral.

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QROPS List – August 15, 2013

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QROPS List – August 15, 2013