Qualifying Recognised Overseas Pension Schemes (QROPS) have seen some underlying changes, with several pensions added and removed from the HM Revenue and Customs (HMRC) list – but the number of QROPS remains unchanged from two weeks ago.
Expats have the choice of 1,286 QROPS from 42 financial centres worldwide.
According to HMRC, 10 offshore pensions were added to the QROPS list, while 14 were removed and three amended.
HMRC does not reveal why specific pensions are removed from the list.
Australia remains the world number one QROPS centre by largest number of pensions, with 335 schemes open.
The Isle of Man is second with 231, followed by Guernsey with 145.
Easier pension access for expats
Between them, the top three jurisdictions have 55% of all QROPS worldwide.
QROPS were introduced to ease pension access for British expats living elsewhere in the European Union.
HMRC publishes an updated list of QROPS every fortnight
UK pension firms and QROPS providers can only transfer pension funds to listed schemes.
HMRC plans to publish the next QROPS List on November 1, 2016.
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 jurisdiction | No of QROPS |
|---|---|
| Australia | 335 |
| Austria | 7 |
| Barbados | 1 |
| Belgium | 10 |
| Bulgaria | 2 |
| Canada | 61 |
| Czech Republic | 2 |
| Denmark | 3 |
| European Union | 1 |
| Finland | 1 |
| France | 11 |
| Germany | 30 |
| Gibraltar | 51 |
| Greece | 1 |
| Guernsey | 145 |
| Hong Kong | 15 |
| Hungary | 1 |
| Iceland | 1 |
| India | 11 |
| Ireland | 86 |
| Isle of Man | 231 |
| Italy | 19 |
| Jamaica | 1 |
| Jersey | 85 |
| Kenya | 1 |
| Kosovo | 1 |
| Latvia | 3 |
| Liechtenstein | 3 |
| Luxembourg | 3 |
| Malta | 28 |
| Mauritius | 3 |
| Netherlands | 62 |
| New Zealand | 36 |
| Norway | 5 |
| Portugal | 4 |
| South Africa | 12 |
| Spain | 2 |
| Sri Lanka | 1 |
| Sweden | 6 |
| Switzerland | 2 |
| Turkey | 2 |
| United States of America | 1 |
| Total: | 1286 |
Source: HMRC
The table shows the net number of schemes, accounting for new listings and removals since the publication of the last list.
