Sweden has rejoined the list of financial centres offering QROPS pensions for expats after losing the status in April.
The Nordea Pension Plan has relisted with HM Revenue & Customs after losing QROPS status four months ago when UK pension compliance rules for the offshore schemes changed.
Nordea is one of the largest Nordic banks with almost 11 million personal and business customers across several countries.
Sweden has a record of offering QROPS to expats and international workers that stretches back until the introduction of the pensions in April 2006.
However, providers in the country have only ever had eight QROPS listed with HMRC at any time – between August 2013 and May 2014.
All Swedish QROPS were delisted in April 2017, when HMRC changed qualification rules.
More QROPS pension changes
Elsewhere, the QROPS List has increased by a net nine pensions to 1035 schemes from 30 financial centres.
Besides Sweden, four were added in the Isle of Man, two each in Australia, Ireland and Jersey.
One QROPS each were delisted in Austria and Guernsey.
The HMRC list tells pension providers and retirement savers transferring funds from a UK pension to a QROPS or between the offshore pensions which schemes qualify for the status.
QROPS providers must certify their schemes meet HMRC pension and tax rules.
The next HM Revenue and Customs QROPS List is scheduled for September 1, 2017.
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 centre | No of QROPS |
|---|---|
| Australia | 462 |
| Austria | 5 |
| Barbados | 1 |
| Belgium | 1 |
| Bulgaria | 3 |
| Denmark | 1 |
| EU Institution | 1 |
| Finland | 1 |
| Germany | 10 |
| Gibraltar | 41 |
| Guernsey | 30 |
| Hong Kong | 21 |
| Hungary | 2 |
| India | 13 |
| Ireland | 55 |
| Isle of Man | 257 |
| Jersey | 36 |
| Kenya | 1 |
| Latvia | 3 |
| Liechtenstein | 1 |
| Luxembourg | 2 |
| Malta | 34 |
| Mauritius | 2 |
| Netherlands | 14 |
| New Zealand | 31 |
| Norway | 1 |
| South Africa | 3 |
| Spain | 1 |
| Sweden | 1 |
| Switzerland | 1 |
| Total: | 1035 |
Source: HMRC
The table shows the net number of schemes, accounting for new listings and removals since the publication of the last list.
