Qualifying Recognised Overseas Pension Schemes (QROPS) are still opening at the rate of one a day as the number of pensions worldwide hit a new peak of 3,364.
During the past two weeks, 15 QROPS opened while four were suspended, moving the gross number of the offshore pensions up 11 from 3,353.
Compared with 12 months ago, the number of pensions has increased by 407 from 2,957.
The number of financial centres offering QROPS has dropped from 46 to 42 during the year.
Australia is still the world’s major QROPS financial centre by market share with 256 new pensions opening in the year, taking the total number based in the country from 1,119 at the start of April 2013 to 1,375.
QROPS List changes
The figures come from HM Revenue & Customs (HMRC) QROPS List, which is published every two weeks.
The list details all QROPS worldwide that have not opted for confidentiality.
New QROPS opened in the past two weeks in Australia (8), Ireland (3), Guernsey (1), Gibraltar (1) and The Netherlands (1).
Pensions were suspended in Switzerland (2), South Africa (1) and Canada (1).
HMRC declines to comment on why individual QROPS are suspended. The reasons can range from a retirement saver drawing down and closing a single member scheme to administrative or tax issues.
The next QROPS List is expected on April 15, 2014.
| QROPS List - April 1, 2014 | ||
|---|---|---|
| Jurisdiction | Count of QROPS pensions | |
| March 13, 2014 | April 1, 2014 | |
| Australia | 1367 | 1375 |
| Austria | 11 | 11 |
| Barbados | 2 | 2 |
| Belgium | 22 | 22 |
| Bulgaria | 3 | 3 |
| Canada | 100 | 99 |
| Czech Republic | 3 | 3 |
| Denmark | 8 | 8 |
| European Union | 1 | 1 |
| Finland | 3 | 3 |
| France | 41 | 41 |
| Germany | 56 | 56 |
| Gibraltar | 33 | 34 |
| Greece | 1 | 1 |
| Guernsey | 65 | 66 |
| Hong Kong | 3 | 3 |
| Hungary | 1 | 1 |
| Iceland | 3 | 3 |
| India | 27 | 27 |
| Ireland | 743 | 746 |
| Isle of Man | 236 | 236 |
| Italy | 47 | 47 |
| Jamaica | 2 | 2 |
| Jersey | 134 | 135 |
| Latvia | 1 | 1 |
| Liechtenstein | 3 | 3 |
| Luxembourg | 8 | 8 |
| Malta | 19 | 19 |
| Mauritius | 2 | 2 |
| Netherlands | 107 | 108 |
| New Zealand | 55 | 55 |
| Norway | 8 | 8 |
| Portugal | 23 | 23 |
| Russian Federation | 1 | 1 |
| South Africa | 31 | 30 |
| Spain | 16 | 16 |
| Sri Lanka | 1 | 1 |
| Sweden | 8 | 8 |
| Switzerland | 138 | 136 |
| Trinidad & Tobago | 2 | 2 |
| Turkey | 3 | 3 |
| USA | 15 | 15 |
| Total: | 3353 | 3364 |
| Source: HMRC | ||
