QROPS List – February 15, 2019

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

HMRC QROPS List – By country

Financial jurisdiction No of QROPS
Australia 827
Austria 5
Barbados 1
Belgium 1
Bulgaria 3
Denmark 2
EU Institution 1
Finland 1
Germany 9
Gibraltar 31
Guernsey 62
Hong Kong 4
India 11
Ireland 65
Isle of Man 350
Jersey 50
Kenya 2
Latvia 3
Liechtenstein 2
Luxembourg 2
Malta 37
Mauritius 2
Netherlands 35
New Zealand 30
Norway 1
Sweden 1
Switzerland 1
USA 2
Total: 1541

Data Source: HMRC

HMRC QROPS List – Changes

QROPS pensions added, amended or removed from the list since February 1, 2019.

QROPS Country Added Amended Removed
AKR Super Fund Australia x
Appleton & Tylka Superannuation Fund Australia x
Ashton Henderson Superannuation Fund Australia x
G & L Rimes Superannuation Fund Australia x
Haxton Superannuation Fund Australia x
Hugh Makin Superannuation Fund Australia x
IanJDV SMSF Australia x
ID Johnson Super Australia x
Karalee 1944 SMSF Australia x
Mark Elvy Superannuation Fund Australia x
McGregor Super Fund Australia x
Midwood Superannuation Fund Australia x
Mitchell WA Super Australia x
P & H Rymer Super Fund Australia x
Simon Benedict Lane Super Fund Australia x
Skepper Super Fund Australia x
Soaring Tail Superannuation Fund Australia x
Tibballs and Bose ROPS Super Fund Australia x
Tim Pitcher Superannuation Fund Australia x
Prerip Qualifying Recognised Overseas Pension Scheme Guernsey x
Citibank Employee Benefit Plan – Ireland Ireland x
Liam Hetherington SSAP Ireland x
Melograno Investments Limited Jersey x
Centaurus Lite Retirement Benefit Scheme Malta x
Stichting Pensioenfonds Astellas Netherlands x
SSAS 7 Fund New Zealand x
Totals: 23 0 3

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 List is scheduled for March 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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