The number of Qualifying Recognised Overseas Pension Schemes (QROPS) is continuing to hit a new high.
The February 1 QROPS List published by HM Revenue & Customs (HMRC) details 3,667 of the pension schemes for expats and international workers worldwide.
In the past 12 months, 419 QROPS opened and 28 closed, leaving a net gain of 391 schemes added to the list.
Since the last list was published on January 15, 17 new QROPS have opened and none closed.
Top 3 QROPS centres
Australia continues to lead the way with 1,604 pensions, which account for almost 44% of the market by number of QROPS.
Maintaining their second and third places are Ireland, with 779 QROPS and a 21% market share and the Isle of Man with 231 pensions and a 6% market share.
These three jurisdictions now have a 71% share of the market by number of pensions.
HMRC does not release information about the number of transfers or fund values.
The schemes that opened in the past 14 days were in:
- Australia (8)
- Isle of Man (3)
- The Netherlands (3)
- Gibraltar (1)
- Guernsey (1)
- Luxembourg (1)
The next QROPS list is due to be published by HMRC on February 15, 2015
QROPS List - February 1, 2015 | ||
---|---|---|
Financial jurisdiction | January 15, 2015 | February 1, 2015 |
Australia | 1596 | 1604 |
Austria | 11 | 11 |
Barbados | 2 | 2 |
Belgium | 24 | 24 |
Bulgaria | 3 | 3 |
Canada | 94 | 94 |
Czech Republic | 3 | 3 |
Denmark | 9 | 9 |
European Union | 1 | 1 |
Falkland Islands | 1 | 1 |
Finland | 3 | 3 |
France | 37 | 37 |
Germany | 55 | 55 |
Gibraltar | 44 | 45 |
Greece | 1 | 1 |
Guernsey | 87 | 88 |
Hong Kong | 4 | 4 |
Hungary | 1 | 1 |
Iceland | 3 | 3 |
India | 12 | 12 |
Ireland | 779 | 779 |
Isle of Man | 228 | 231 |
Italy | 49 | 49 |
Jamaica | 2 | 2 |
Jersey | 139 | 139 |
Kenya | 1 | 1 |
Kosovo | 1 | 1 |
Latvia | 3 | 3 |
Liechtenstein | 4 | 4 |
Luxembourg | 9 | 10 |
Malta | 22 | 22 |
Mauritius | 2 | 2 |
Netherlands | 116 | 119 |
New Zealand | 59 | 59 |
Norway | 8 | 8 |
Portugal | 23 | 23 |
Russian Federation | 1 | 1 |
South Africa | 32 | 32 |
Spain | 16 | 16 |
Sri Lanka | 1 | 1 |
Sweden | 7 | 7 |
Switzerland | 139 | 139 |
Trinidad | 2 | 2 |
Turkey | 3 | 3 |
USA | 13 | 13 |
Number of QROPS: | 3650 | 3667 |
Source: HMRC |