Financial jitters have failed to affect the seemingly unstoppable rise of Qualifying Recognised Overseas Pension Schemes (QROPS) around the world.
Despite volatile markets, falling bond rates and low returns on savings, retirement savers are still pinning their hopes on QROPS to featherbed their later years.
As HM Revenue & Customs (HMRC) issued the 108th QROPS List, the number of pensions has climbed to 3688 across 45 financial centres.
QROPS have maintained their march of opening a pension every day somewhere around the world with the number 365 on the list of 12 months ago.
In the past two week, the number of schemes has increased by a net 15 pensions.
New QROPS
QROPS have opened in:
- Australia (10)
- Ireland (3)
- Isle of Man (2)
- Gibraltar (1)
- Guernsey (1)
Two QROPS are missing from the list in New Zealand. HMRC declines to comment on reasons for suspending a QROPS.
The QROPS list is the net number of QROPS pensions open for transfers from UK onshore schemes.
HMRC is due to publish the next QROPS List on March 15, 2015.
| QROPS List - March 01, 2015 | |
|---|---|
| Financial jurisdiction | Number of QROPS |
| Australia | 1619 |
| Austria | 11 |
| Barbados | 2 |
| Belgium | 24 |
| Bulgaria | 3 |
| Canada | 94 |
| Czech Republic | 3 |
| Denmark | 9 |
| European Union | 1 |
| Falkland Islands | 1 |
| Finland | 3 |
| France | 37 |
| Germany | 55 |
| Gibraltar | 46 |
| Greece | 1 |
| Guernsey | 90 |
| Hong Kong | 3 |
| Hungary | 1 |
| Iceland | 3 |
| India | 12 |
| Ireland | 782 |
| Isle of Man | 233 |
| Italy | 49 |
| Jamaica | 2 |
| Jersey | 140 |
| Kenya | 1 |
| Kosovo | 1 |
| Latvia | 3 |
| Liechtenstein | 4 |
| Luxembourg | 10 |
| Malta | 22 |
| Mauritius | 2 |
| Netherlands | 119 |
| New Zealand | 57 |
| Norway | 8 |
| Portugal | 23 |
| Russian Federation | 1 |
| South Africa | 32 |
| Spain | 16 |
| Sri Lanka | 1 |
| Sweden | 7 |
| Switzerland | 139 |
| Trinidad | 2 |
| Turkey | 3 |
| USA | 13 |
| Number of QROPS: | 3688 |
| Source: HMRC | |
