QROPS List – April 15, 2019

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

The number of QROPS has increased by 95 since the start of the year.

Find out What is QROPS

HMRC QROPS List – By country

CountryNo of QROPS
Australia880
Austria4
Barbados1
Belgium1
Bulgaria3
Denmark2
EU Institution1
Finland1
Germany8
Gibraltar32
Guernsey64
Hong Kong6
India12
Ireland67
Isle of Man353
Jersey53
Kenya2
Latvia3
Liechtenstein2
Luxembourg2
Malta36
Mauritius1
Netherlands38
New Zealand30
Norway1
Sweden1
Switzerland1
USA2
Total:1607
   

Data Source: HMRC

HMRC QROPS List – Changes

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

QROPSCountryAddedAmended Removed
     
A & L Loomes Super FundAustraliax  
Adler Family Superannuation FundAustraliax  
Bee Eater Super FundAustraliax  
Blake55 SuperfundAustraliax  
cgjgperth Super FundAustraliax  
DG Ralphs SuperAustraliax  
DI Baigent SMSFAustraliax  
Goodrich Family Super FundAustraliax  
Graham Hardy S.M. Super FundAustraliax  
Hewlett Turner SuperAustraliax  
Hinchliffe Super FundAustraliax  
HJ Howe 55 Super FundAustraliax  
Lisben Superannuation FundAustraliax  
M Pepper QROPS SMSFAustraliax  
Misherwood Super FundAustraliax  
Pepco Superannuation FundAustraliax  
Peter Shaw Super FundAustraliax  
R E Brown Family Super FundAustraliax  
Russellsdownunder Super FundAustraliax  
Tim Hughes Super FundAustraliax  
Tony Storey Super FundAustraliax  
Versis Superannuation FundAustraliax  
Warhall Super FundAustraliax  
Winwood Family Super FundAustraliax  
YK Tomlinson Superannuation FundAustraliax  
Versorgungseinrichtung der Bezirksarztekammer KoblenzGermany  x
Whitmill QROPSGibraltarx  
Hannaaron SIPPIsle of Manx  
Truffler LimitedJerseyx  
US Voyager Retirement PlanMalta  x
Voyager Retirement PlanMalta  x
TicketSwap B.V. by Brand New DayNetherlandsx  
     
Totals: 2903
     
Net change: 32  

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 May 1, 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

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