QROPS List – July 15, 2019

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

HMRC QROPS List – By country

No of QROPS
CountryJuly 15 20191 month age3 mnths ago6 mnths ago1 year ago
Australia965944880804683
Austria44455
Barbados11111
Belgium11111
Bulgaria33333
Denmark22222
EU Institution11111
Finland11111
Germany88899
Gibraltar3231323130
Guernsey6262646352
Hong Kong87642
India1213121113
Ireland6969676560
Isle of Man355356353350343
Jersey5757534943
Kenya22222
Latvia33333
Liechtenstein22222
Luxembourg22222
Malta3636363836
Mauritius11122
Netherlands4141383217
New Zealand3231302932
Norway113711
South Africa1
Sweden11112
Switzerland11112
USA22222
     
Totals:17051683164315151353

Data Source: HMRC

HMRC QROPS List – Changes

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

QROPSCountryAddedAmended Removed
A and A Henry Self Managed Super FundAustraliax
Gilmour Investments Super FundAustraliax
Jumbunna Retirement FundAustraliax
MJ & C Davies SuperfundAustraliax
ML Swinton SuperAustraliax
Pearson-Wright Super FundAustraliax
RA & SA Barron Superannuation FundAustraliax
Speight SuperfundAustraliax
Tour de FaahanAustraliax
Wilkinson SuperAustraliax
Athena QROPSGibraltarx
Neosourcing Pension SchemeHong Kongx
Exide Life One Advantage Retirement PlanIndiax
Charis SIPPIsle of Manx
     
Totals:1301
Net change:12

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 August 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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