HMRC has delisted 23 Qualifying Recognised Overseas Pension Schemes (QROPS) from the latest list of pensions that self-certify they meet QROPS rules.
Two Hong Kong QROPS remain open for transfers in – the Asia Alternative Asset Partners Limited Retirement Benefits Scheme and David Watt Retirement Benefits Scheme.
The reason why the schemes have been pulled is unclear.
None of the schemes missing from the list have commented about the delisting,
“HMRC does not comment on issues involving specific QROPS, said an HMRC spokesman.
Movers and shakers
Other schemes missing from the list are one in Jersey and three in Switzerland.
Overall, the number of QROPS is six less than those included on the last QROPS list published on July 15, 2013, and 441 up on the same time last year.
The total number of QROPS is 3,103 across 46 financial jurisdictions.
Australia remains the leading QROPS provider, with 1,204 pension plans – four more than in July 2013, and 252 more than 12 months ago. By number of QROPS, Australia has a 38% market share.
Four new QROPS also opened in Ireland, which has a 23% market share and lies in second place as the financial centre with the largest number of schemes behind Australia. Ireland now hosts 721 QROPS – 68 more than a year ago.
QROPS list
The Isle of Man ranks third – with three new schemes since July 15, 2013, taking the total to 224 – 49 up on a year ago and giving a market share of just over 7%.
Other QROPS also opened in Malta, Germany, India, Canada, Guernsey, Sweden and The Netherlands.
HMRC publishes the QROPS list every two weeks. The next is due on August 15, 2013.
The full list country-by-country is:
Country | Scheme Count |
---|---|
Australia | 1204 |
Austria | 9 |
Bangladesh | 1 |
Barbados | 4 |
Belgium | 22 |
Bulgaria | 3 |
Canada | 99 |
Czech Republic | 4 |
Denmark | 8 |
European Union | 1 |
Finland | 4 |
France | 39 |
Germany | 56 |
Gibraltar | 19 |
Greece | 1 |
Guernsey | 48 |
Hong Kong | 2 |
Hungary | 1 |
Iceland | 3 |
India | 19 |
Ireland | 721 |
Isle of Man | 224 |
Italy | 45 |
Jamaica | 2 |
Jersey | 135 |
Latvia | 1 |
Liechtenstein | 2 |
Luxembourg | 8 |
Malaysia | 1 |
Malta | 17 |
Mauritius | 2 |
New Zealand | 48 |
Norway | 7 |
Portugal | 23 |
Russian Federation | 1 |
South Africa | 31 |
Spain | 16 |
Sri Lanka | 1 |
St Lucia | 3 |
St Vincent & The Grenadines | 1 |
Sweden | 8 |
Switzerland | 135 |
The Netherlands | 104 |
Trinidad & Tobago | 3 |
Turkey | 3 |
USA | 14 |
Grand Total | 3103 |
Source: HMRC
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