Retirement

QROPS List – February 1, 2017

Sixteen Qualifying Recognised Overseas Pension Schemes (QROPS) were added to the UK tax man’s official list in the past two weeks.

The worldwide total is now 1,275 offshore pensions for expats – an increase of 16 pensions over the 1,259 total on the last list published on January 15 and 315 up on a year ago.

Australia saw 10 new schemes added, while Germany, India, the Isle of Man, Latvia, Malta and the Netherlands all increased their totals by one.

No QROPS were delisted and the number of countries offering the pensions remains at 40.

Australia is the country hosting the largest number of QROPS – with 387 or 30% of all schemes.

The QROPS List is published by HMRC every two weeks.

What is the QROPS List?

The list is not an approved pension directory but a guide to schemes that have self-certified that they meet QROPS qualification rules.

Transferring pension cash to an offshore scheme not on the list can result in financial penalties.

QROPS pensions are offshore personal pensions designed to give British expats and international workers with UK pension savings easier access to their retirement cash.

Switching to a QROPS offshore pension can give tax other financial benefits to many retirement savers.

According to the latest figures from HMRC, 108,000 savers have switched £8.8 billion of pension cash into QROPS since the scheme was started in April 2006.

The next QROPS list is due on February 15, 2017.

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

CountryNo of QROPS
Australia387
Austria9
Barbados1
Belgium9
Bulgaria2
Canada3
Czech Republic2
Denmark3
European Union1
Finland1
Germany25
Gibraltar51
Greece1
Guernsey149
Hong Kong18
Hungary2
Iceland1
India16
Ireland86
Isle of Man248
Jamaica1
Jersey83
Kenya1
Kosovo1
Latvia3
Liechtenstein3
Luxembourg4
Malta32
Mauritius3
Netherlands61
New Zealand34
Norway4
Portugal4
South Africa12
Spain2
Sri Lanka1
Sweden6
Switzerland2
Turkey2
United States of America1
Total:1275

Source: HMRC

The table shows the net number of schemes, accounting for new listings and removals since the publication of the last list.

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