The number of QROPS pensions climbed back to more than a thousand as the overseas pensions look towards their 10th anniversary on April 6, 2016.
The latest list of pensions published by HM Revenue and Customs before the anniversary saw 22 pensions open in Australia, taking the total offered in the country to 159.
After QROPS rule changes in June 2015, Australia has just one pension after hundreds of QROPS were closed when HMRC applied the pension age test introduced with UK flexible access reforms.
The test barred any QROPS from paying out to anyone under 55 years old.
Isle of Man has most listed QROPS
Besides the Australia openings since the publication of the last QROPS list on March 15, two more pensions were opened in Ireland and one in The Netherlands.
Although QROPS are opening at their fastest rate in Australia, the financial centre with the most listed schemes is the Isle of Man, with 206. Guernsey takes third place with 137.
HMRC says 1,075 QROPS are available across 41 financial jurisdictions.
The figures are for number of QROPS in each jurisdictions and do not account for the number of members of a scheme or how much money is invested in each scheme.
HMRC will publish the next QROPS List on April 15, 2016.
QROPS List By Financial Jurisdiction
| Financial Jurisdiction | No of QROPS |
|---|---|
| Australia | 159 |
| Austria | 8 |
| Barbados | 1 |
| Belgium | 14 |
| Bulgaria | 2 |
| Canada | 64 |
| Czech Republic | 2 |
| Denmark | 4 |
| European Union | 1 |
| France | 11 |
| Germany | 32 |
| Gibraltar | 46 |
| Greece | 1 |
| Guernsey | 137 |
| Hong Kong | 12 |
| Hungary | 1 |
| Iceland | 1 |
| India | 10 |
| Ireland | 88 |
| Isle of Man | 206 |
| Italy | 19 |
| Jamaica | 1 |
| Jersey | 85 |
| Kenya | 1 |
| Kosovo | 1 |
| Latvia | 3 |
| Liechtenstein | 3 |
| Luxembourg | 4 |
| Malta | 24 |
| Mauritius | 1 |
| Netherlands | 65 |
| New Zealand | 31 |
| Norway | 6 |
| Portugal | 4 |
| South Africa | 12 |
| Spain | 3 |
| Sri Lanka | 1 |
| Sweden | 6 |
| Switzerland | 1 |
| Turkey | 2 |
| United States of America | 2 |
| Total: | 1075 |
Source: HMRC
For more information about QROPS and the benefits it provides, download the iExpats QROPS Guide or complete the Get Advice form.
