The number of Qualifying Recognised Overseas Pension Schemes (QROPS) for expats and international workers nudged up again in April.
HM Revenue and Customs (HMRC) published the first QROPS List after the pension scheme passed the 10-year landmark at the start of the financial year.
The number of QROPS worldwide now stands at 1,078 pensions – three up on the 1.075 listed on April 1.
Two new pensions opened in Australia, taking the country’s total to 161, while Guernsey, India and Ireland all added one pension to their rosters.
Although five opened, two were delisted in The Netherlands.
HMRC does not comment on the listings.
HMRC adds a QROPS every day
QROPS can delist for a number of reasons, ranging from the last member dying or transferring funds out to the pension no longer meeting QROPS rules.
The number of financial centres offering QROPS stayed the same – 41.
The Isle of Man leads the way as the financial centre with the most QROPS – 206. Australia is second with 161 and Guernsey takes third place with 138. No other centres have hit three figures.
Since the start of this year, HMRC has listed 135 QROPS pensions at the rate of more than one every day.
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.
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 | 161 |
| 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 | 138 |
| Hong Kong | 12 |
| Hungary | 1 |
| Iceland | 1 |
| India | 11 |
| Ireland | 89 |
| 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 | 63 |
| 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 | 1078 |
Source: HMRC
