HM Revenue and Customs (HMRC) has had a busy two weeks with more than 20 changes to the official list of Qualifying Recognised Overseas Pension Schemes (QROPS).
Since the last list was issued on August 1, nine pensions have joined while six have been removed and five amended.
Australia is still the financial centre with the most QROPS – adding four in 14 days to take the total to 294 – which amounts to close to 24% of one in four of all QROPS worldwide.
Gibraltar and Malta also added two QROPS each.
Gibraltar now has 50 QROPS – 4% of the global total.
Malta adds offshore pensions for expats
Malta has 27 – 2% of the global total.
The Isle of Man also added a pension and now has 17.5% of the number of QROPS worldwide, the second highest total behind Australia.
QROPS were delisted in Ireland (-3), the Netherlands (-2) and Belgium (-1).
The list details 1,247 QROPS in 42 financial centres around the world – a net gain of three on August 1.
The QROPS List publishes the name of qualifying pensions in each country. Figures are not available for numbers of retirement savers or the cash invested in each scheme.
HMRC plans to publish the next QROPS List on September 1, 2016.
For more information about QROPS and the benefits it provides, download the iExpats QROPS Guide or complete the Get Advice form.
QROPS List By Financial Jurisdiction
| Financial Centre | No of QROPS |
|---|---|
| Australia | 294 |
| Austria | 8 |
| Barbados | 1 |
| Belgium | 13 |
| Bulgaria | 2 |
| Canada | 67 |
| Czech Republic | 2 |
| Denmark | 3 |
| European Union | 1 |
| Finland | 1 |
| France | 12 |
| Germany | 31 |
| Gibraltar | 50 |
| Greece | 1 |
| Guernsey | 142 |
| Hong Kong | 15 |
| Hungary | 1 |
| Iceland | 1 |
| India | 11 |
| Ireland | 90 |
| Isle of Man | 217 |
| Italy | 19 |
| Jamaica | 1 |
| Jersey | 87 |
| Kenya | 1 |
| Kosovo | 1 |
| Latvia | 3 |
| Liechtenstein | 3 |
| Luxembourg | 4 |
| Malta | 27 |
| Mauritius | 3 |
| Netherlands | 63 |
| New Zealand | 36 |
| Norway | 6 |
| Portugal | 4 |
| South Africa | 12 |
| Spain | 2 |
| Sri Lanka | 1 |
| Sweden | 6 |
| Switzerland | 1 |
| Turkey | 2 |
| United States of America | 2 |
| Total: | 1247 |
Source: HMRC
The table shows the net number of schemes, accounting for new listings and removals since the publication of the last list.
