QROPS List – April 1, 2019

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The latest HM Revenue & Customs data for expats with QROPS offshore pensions.

To find out more read the What is QROPS article

HMRC QROPS List – By country

CountryNo of QROPS
Australia855
Austria4
Barbados1
Belgium1
Bulgaria3
Denmark2
EU Institution1
Finland1
Germany9
Gibraltar31
Guernsey64
Hong Kong6
India12
Ireland67
Isle of Man352
Jersey52
Kenya2
Latvia3
Liechtenstein2
Luxembourg2
Malta38
Mauritius1
Netherlands37
New Zealand30
Norway1
Sweden1
Switzerland1
USA2
Total:1581

Data Source: HMRC

HMRC QROPS List – Changes

QROPS pensions added, amended or removed from the list since April 1, 2019.

QROPSCountryAddedAmended Removed
Crowhill SuperAustraliax
Dewhurst Over 55Australiax
Elders Superannuation FundAustraliax
Hallidee Family SMSFAustraliax
Harrison Family Superannuation SchemeAustraliax
Hobby SuperannuationAustraliax
Statter SuperAustraliax
Cranborne Retirement SchemeHong Kongx
Wise Talent Retirement SchemeHong Kongx
Exide Life My Retirement PlanIndiax
An Post Main Superannuation Scheme 1990Irelandx
An Post Spouses’ and Children’s Contributory Scheme 1990Ireandx
Logicalis Channel Islands Limited Pension SchemeJerseyx
St James QROPS (Mauritius)Mauritiusx
Simar Beheer BV by Brand New DayNetherlandsx
   
Totals:1401
Net change:15

Data source: HMRC

The first table shows the net number of schemes for each financial jurisdiction, accounting for new listings and removals since the publication of the last list.

The second table details the changes.

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 certain to be QROPS. Retirement savers should check this before transferring any money.

The next HM Revenue and Customs QROPS Listis scheduled for April 15, 2019.

QROPS overseas transfer charge

The overseas transfer charge is calculated as 25% of the transfer value of a fund 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
  • Gibraltar
  • Ireland
  • Latvia
  • Liechtenstein
  • Luxembourg
  • Malta
  • The Netherlands
  • Norway
  • Sweden

QROPS countries outside the EEA

Countries outside the EEA are subject to the transfer charge if an expat does not live in the same country as the pension is administered – these are:

  • Australia
  • Barbados
  • Guernsey
  • Hong Kong (China)
  • India
  • Isle of Man
  • Jersey
  • Kenya
  • Mauritius
  • New Zealand
  • South Africa
  • Switzerland
  • USA

Other exceptions to the transfer charge may apply if the overseas scheme is run by an employer or multinational non-government organisation, such as the EU QROPS.

A five-year residence rule may also apply.

Click here for official guidance on the overseas transfer charge

Download the Free Pension Transfer Guide

Expat Pension Transfers Guide

iExpats.com expert writers have created a simple guide to Expat Pension Transfers just for you.

Find out how you could save tax, increase growth and investment opportunities with this simple, no-nonsense guide that will introduce QROPS, SIPPs and QNUPS options and talk through the pros and cons. Download the free guide by following the link below

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