QROPS List – December 15, 2018

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

HMRC QROPS List – By country

Financial centreNo of QROPS
Australia787
Austria5
Barbados1
Belgium1
Bulgaria3
Denmark2
EU Institution1
Finland1
Germany9
Gibraltar31
Guernsey60
Hong Kong4
India11
Ireland65
Isle of Man350
Jersey49
Kenya2
Latvia3
Liechtenstein2
Luxembourg2
Malta38
Mauritius2
Netherlands31
New Zealand29
Norway1
Sweden2
Switzerland1
USA2
Grand Total1495

Data Source: HMRC

HMRC QROPS List – Changes

QROPS pensions added, amended or removed from the list since December 1, 2018.

QROPSCountryAddedAmendedRemoved
Berkley Hassett Super FundAustraliax
Chappel-Wood Superannuation FundAustraliax
Feebiegrovell Super FundAustraliax
Margaret Waller Superannuation FundAustraliax
Morgan Cerini SMSFAustraliax
PaS Super FundAustraliax
R & M Dean Superannuation FundAustraliax
SCAT Superannuation FundAustraliax
Scottie Dog SuperAustraliax
TWOPM Superannuation FundAustraliax
Jerzy Olejnik Retirement FundAustraliax
Julien Sharpe Retirement Annuity Trust SchemeGuernseyx
Exide Life Golden Years Retirement PlanIndiax
HDFC Life Pension Guaranteed PlanIndiax
ITC PRSA 1Irelandx
ITC PRSA 2Irelandx
ITC PRSA 3Irelandx
Eamonn O Sullivan Personal Retirement BondIrelandx
Parry Family SIPPIsle of Manx
Alpenhof LtdJerseyx
SSAS 6 FundNew Zealandx
SSAS 7 FundNew Zealandx
SSAS 15 FundNew Zealandx
    
Totals:1706

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 List is scheduled for January 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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