QROPS List – August 15, 2019

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

HMRC QROPS List – By country

Country No of QROPS
Australia 985
Austria 4
Barbados 1
Belgium 1
Bulgaria 3
Denmark 2
EU Institution 1
Finland 1
Germany 8
Gibraltar 32
Guernsey 62
Hong Kong 8
India 12
Ireland 70
Isle of Man 356
Jersey 59
Kenya 2
Latvia 3
Liechtenstein 2
Luxembourg 2
Malta 36
Mauritius 1
Netherlands 42
New Zealand 33
Norway 1
Sweden 1
Switzerland 1
USA 2
Total: 1731

Data Source: HMRC

HMRC QROPS List – Changes

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

QROPS Country Added Amended Removed
Barry and Julia Carter Superannuation Fund Australia x
Connelly Super Fund Australia x
David Smith SMSF Australia x
Foster Superannuation Fund Australia x
Gooding Super Fund Australia x
I & A McLellan Super Fund Australia x
Jones UK Super Fund Australia x
Kalyan Superannuation Fund Australia x
M and V Garland Self Managed Super Fund Australia x
McAney Family Superannuation Trust Australia x
Richkate Australia x
Sedgefield Superannuation Fund Australia x
Sit Down Super Fund Australia x
Slevin Family Super Fund Australia x
Bee Eater Super Fund Australia x
Ardonan Isle of Man Pension Plan Isle of Man x
Vantage Employee Pension Scheme Jersey x
ABP Pension Scheme Netherlands x
SMS 14 Fund New Zealand x
         
Totals: 18 0 1
Net change since August 1: 17

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.

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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 September 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

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

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