Australia’s charge to the top of the table for offering the most QROPS pensions to expats as another nine schemes have opened in the past week.
Australia now has 443 QROPS pensions – one more than the recent peak of 442 in April 2017 and the highest number since 1,652 pensions were wiped out by HM Revenue & Customs in June 2015. The cull then was because of changing rules that led to all but one Australia QROPS delisting.
The Isle of Man also saw nine QROPS join the HMRC list of self-certified schemes meeting offshore pension rules, taking the financial centres total to 243 and firmly anchoring the island as the second largest QROPS provider by number of schemes.
New offshore pension listings
Other QROPS were listed in:
- Gibraltar – three schemes taking the number based on the Rock to 40
- Guernsey added one taking the number available to expats to 28
- Jersey also added one, to make a total of 33
The global QROPS total now stands at 989 pensions provided by 29 financial centres – an increase of 23 from the last HMRC list published on June 22.
A year ago, 1,192 QROPS from 41 financial centres were listed by HMRC.
Around 110,000 expat retirement savers have transferred more than £8.8 billion from UK pensions to QROPS, says HMRC.
The next HM Revenue and Customs QROPS List is scheduled for July 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
Financial centre | No of QROPS |
---|---|
Australia | 443 |
Austria | 6 |
Barbados | 1 |
Belgium | 1 |
Bulgaria | 3 |
Denmark | 1 |
EU Institution | 1 |
Finland | 1 |
Germany | 9 |
Gibraltar | 40 |
Guernsey | 28 |
Hong Kong | 21 |
Hungary | 1 |
India | 13 |
Ireland | 51 |
Isle of Man | 243 |
Jersey | 33 |
Kenya | 1 |
Latvia | 3 |
Liechtenstein | 1 |
Luxembourg | 2 |
Malta | 34 |
Mauritius | 2 |
Netherlands | 14 |
New Zealand | 30 |
Norway | 1 |
South Africa | 3 |
Spain | 1 |
Switzerland | 1 |
Total: | 989 |
Source: HMRC
The table shows the net number of schemes, accounting for new listings and removals since the publication of the last list.