QROPS List – June 1, 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
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.

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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 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

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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