QROPS List – August 1, 2019

279

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

HMRC QROPS List – By country

 No of QROPS
 August 1, 20191 month ago3 mnths ago6 mnths ago1 year ago
Australia972955889807698
Austria44455
Barbados11111
Belgium11111
Bulgaria33333
Denmark22222
EU Institution11111
Finland11111
Germany888910
Gibraltar3231323131
Guernsey6262636352
Hong Kong87742
India1213121113
Ireland7069686562
Isle of Man355355353350344
Jersey5857554943
Kenya22222
Latvia33333
Liechtenstein22222
Luxembourg22222
Malta3636363836
Mauritius11122
Netherlands4141383417
New Zealand3232302931
Norway11111
South Africa1
Sweden11112
Switzerland11112
USA22222
Total:17141694161915201372

Source: HMRC

HMRC QROPS List – Changes

QROPS pensions added, amended or removed from the list since July 15, 2019.

QROPSCountryAddedAmended Removed
Baldwin Superannuation FundAustraliax
Carden Leche Superannuation FundAustraliax
Chicks Nest EggAustraliax
DJ Willison SuperfundAustraliax
Melis Superannuation FundAustraliax
Wolfenden Superannuation FundAustraliax
WollemNo2Australiax
Louise Conneally Pension TrustIrelandx
FBR Group Pension SchemeJerseyx
Booster SuperScheme (previously Fidelity Super-Super Plan, Number 3)New Zealandx
     
Totals:910
Net change:9

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.

Booking.com

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 List is scheduled for August 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

Leave a Reply