QROPS List – July 1, 2019

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

HMRC QROPS List – By country

Country	No of QROPS
	July 1 2019	1 month age	3 mnths ago	6 mnths ago	1 year ago
Australia	955	919	855	807	676
Austria	4	4	4	5	6
Barbados	1	1	1	1	1
Belgium	1	1	1	1	1
Bulgaria	3	3	3	3	3
Denmark	2	2	2	2	2
EU Institution	1	1	1	1	1
Finland	1	1	1	1	1
Germany	8	8	9	9	10
Gibraltar	31	32	31	31	31
Guernsey	62	63	64	63	53
Hong Kong	7	7	6	4	2
India	13	13	12	11	13
Ireland	69	69	67	65	61
Isle of Man	355	355	352	350	342
Jersey	57	57	52	49	43
Kenya	2	2	2	2	2
Latvia	3	3	3	3	3
Liechtenstein	2	2	2	2	2
Luxembourg	2	2	2	2	2
Malta	36	36	38	38	37
Mauritius	1	1	1	2	2
Netherlands	41	39	37	34	17
New Zealand	32	31	30	29	32
Norway	1	1	1	1	1
South Africa	–	–	–	–	1
Sweden	1	1	1	1	2
Switzerland	1	1	1	1	2
USA	2	2	2	2	2
Totals:	1694	1657	1581	1520	1351

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
Collier Superannuation Fund	Australia	x
Cooper Super Fund	Australia	x
Dead Tan & Ginger Superannuation Fund	Australia	x
Hobbs Super (UK) Fund	Australia	x
Julpet Superannuation Fund	Australia	x
Logan Antrobus Superannuation Fund	Australia	x
Macmillan Family Super Fund	Australia	x
Mooney Family Superannuation Fund	Australia	x
Neal Brabon Self Managed Super Fund	Australia	x
S&L Superannuation Fund	Australia	x
Tracey Delves Super Fund	Australia	x
Treasure Chest SMSF	Australia	x
Longair and Pumphrey SMSF	Australia			x
ABN AMRO (Channel Islands) Limited Defined Contribution Pension Scheme	Guernsey			x
Boston Pension Scheme	Isle of Man			x
Stichting Bedrijfstakpensioenfonds voor de Handel in Bouwmaterialen in Nederland	Netherlands	x
i-Select PIE Superannuation Scheme	New Zealand	x
Totals:		14	0	3
Net change:		11

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 July 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