The UK tax man has delisted 192 expat offshore pensions this year – 27 more than the number of new schemes added.
Nine QROPS pensions were missing from the latest list, with two amended and 17 added.
The latest HMRC QROPS List details 2,449 pensions in 28 countries.
The top 10 QROPS host countries manage 2,397 of the global total, which leaves 52 QROPS shared among the remaining 18 countries offering pensions for expats.
HMRC declines to comment on why amending or delisting pensions.
HMRC QROPS List – By country
| Country | QROPS |
| Australia | 1644 |
| Austria | 3 |
| Barbados | 1 |
| Belgium | 4 |
| Bulgaria | 3 |
| Canada | 6 |
| Denmark | 1 |
| EU Institution | 1 |
| Finland | 1 |
| Germany | 6 |
| Gibraltar | 28 |
| Guernsey | 68 |
| Hong Kong | 11 |
| Iceland | 1 |
| India | 24 |
| Ireland | 53 |
| Isle of Man | 324 |
| Jersey | 86 |
| Kenya | 2 |
| Latvia | 4 |
| Luxembourg | 2 |
| Malta | 32 |
| Netherlands | 100 |
| New Zealand | 38 |
| Norway | 1 |
| Slovakia | 1 |
| Sweden | 2 |
| Switzerland | 2 |
| Grand Total | 2450 |
HMRC QROPS List – Top 10 countries
Countries by number of QROPS listed offering the most QROPS
| Country | QROPS |
| Australia | 1644 |
| Isle of Man | 324 |
| Netherlands | 100 |
| Jersey | 86 |
| Guernsey | 68 |
| Ireland | 53 |
| New Zealand | 38 |
| Malta | 32 |
| Gibraltar | 28 |
| India | 24 |
| Grand Total | 2397 |
HMRC QROPS List – Changes
QROPS pensions added, amended, or removed in the latest list
| QROPS | Country | Added | Amended | Removed |
| AK Revis Super | Australia | x | ||
| Beilby & Cheng Superfund | Australia | x | ||
| Brady Family Super Fund | Australia | x | ||
| Bryant Family SMSF | Australia | x | ||
| Caplan Sal Super Fund | Australia | x | ||
| Halai Superannuation Fund | Australia | x | ||
| J and L Kerwin Superannuation Fund | Australia | x | ||
| Jelley55plus Super Fund | Australia | x | ||
| Mylchreest Super Fund | Australia | x | ||
| Oaklands Superannuation fund | Australia | x | ||
| Pete Davis Super | Australia | x | ||
| Thiele Super Fund | Australia | x | ||
| Whipp Super SMSF | Australia | x | ||
| AKB Super Fund | Australia | x | ||
| Balmer Superannuation Fund | Australia | x | ||
| Cohen ROPS Super Fund | Australia | x | ||
| Lockharttwins Superannuation Fund | Australia | x | ||
| Old Codger Superannuation Fund | Australia | x | ||
| P & J Snowden Super Fund | Australia | x | ||
| Tironui Superannuation Fund | Australia | x | ||
| The CIRAS Personal Pension | Guernsey | x | ||
| Rotunda Retirement Annuity Trust | Guernsey | x | ||
| LIC’s New Jeevan Shanti | India | x | ||
| Robert Curgenven Approved Drawdown Contract | Jersey | x | ||
| Triple J Holdings Limited | Jersey | x | ||
| The Ramla Retirement Benefit Scheme (previously Elmo International Retirement Plan) | Malta | x | ||
| The Ramla US Retirement Benefit Scheme (previously Elmo US Retirement Plan) | Malta | x | ||
| Relay42 Netherlands BV | Netherlands | x | ||
| Totals: | 17 | 2 | 9 | |
| QROPS listed October 15, 2022 | 2441 | |||
| Net change since October 15, 2022 | 8 | |||
| QROPS listed November 01, 2022 | 2449 |
| QROPS Jurisdictions | Added | Removed | ||
| None | 0 | 0 | ||
| Totals: | 0 | 0 |
| Countries with QROPS listed November 01, 2022 | 28 | |||
| Net change since October 15, 2022 | 0 | |||
| Countries with QROPS listed November 01, 2022 | 28 |
QROPS List FAQ
The QROPS List is an invaluable free tool for advisers and retirement savers seeking an expat pension.
However, how to use the data is often misunderstood, so here are the answers to some of the most asked questions about QROPS expat pensions.
What is the QROPS List?
The HMRC list tells overseas pension providers and retirement savers transferring funds from a UK pension to a QROPS or between offshore pension providers which schemes qualify for QROPS status.
QROPS providers certify their schemes meet UK offshore pension and tax rules to go on the list, but HMRC warns this does not mean any are approved or sure to be QROPS.
So retirement savers should check the latest QROPS list before transferring any money.
QROPS Overseas Transfer Charge
The overseas transfer charge is 25 per cent of the transfer value of a fund moved into a QROPS or between QROPS.
For expats living inside the European Economic Area (EEA), countries offering QROPS that are not subject to the overseas transfer charge are:
- Austria
- Belgium
- Bulgaria
- Denmark
- Finland
- Germany
- Iceland
- Ireland
- Latvia
- Luxembourg
- Malta
- The Netherlands
- Norway
- Slovakia
- Sweden
QROPS countries outside the EEA, expats are subject to the transfer charge if they do not live in the same country as the pension is administered – these are:
- Australia
- Barbados
- Canada
- Gibraltar
- Guernsey
- Hong Kong (China)
- India
- Isle of Man
- Jersey
- Kenya
- New Zealand
- Switzerland
Other exceptions to the transfer charge may apply if an employer or multinational non-government organisation runs the scheme, such as the EU QROPS.
A five-year residence rule may also apply.
Click here for official guidance on the overseas transfer charge
Why does HMRC remove pensions from the QROPS List?
HMRC delists QROPS for several reasons, including:
- The provider closes
- The last pension member has left the scheme, either by transferring out, dying or exhausting the fund
- Tax avoidance issues
- The scheme stays a QROPS, but the provider invokes confidentiality, excluding the pension from the list
Delisting should not imply wrongdoing by a retirement saver or provider.
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