The lack of Qualifying Recognised Overseas Pension Scheme (QROPS) providers taking part in the new flexible access rules starting from April 6 seem to have no effect on the appetite of expat retirement savers to transfer their pension funds overseas.
The only financial jurisdictions to indicating they will allow flexible access are Guernsey, Malta and Gibraltar.
However, 30 new QROPS are included on the HM Revenue & Customs (HMRC) QROPS List, while two schemes have delisted.
New QROPS
QROPS have opened in:
- Australia (25)
- Ireland (2)
- Isle of Man (2)
- Italy (1)
Delisted QROPS
- Canada (1)
- India (1)
The QROPS list is the net number of QROPS pensions open for transfers from UK onshore pension schemes.
HMRC is due to publish the next QROPS List on April 1, 2015.
| QROPS List - March 015, 2015 | |
|---|---|
| Financial jurisdiction | Sum of 15/03/2015 |
| Australia | 1644 |
| Austria | 11 |
| Barbados | 2 |
| Belgium | 24 |
| Bulgaria | 3 |
| Canada | 93 |
| 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 | 11 |
| Ireland | 784 |
| Isle of Man | 235 |
| Italy | 50 |
| 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: | 3716 |
| Source: HMRC | |
