QROPS List – June 15, 2019

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

HMRC QROPS List – By country

Country No of QROPS
Today 1 mnth ago 3 mnths ago 6 mnths ago 1 year ago
Australia 944 905 848 804 668
Austria 4 4 4 5 4
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 11
Gibraltar 31 32 31 31 41
Guernsey 63 63 64 63 51
Hong Kong 7 7 4 4 2
India 13 12 11 11 13
Ireland 69 69 65 65 62
Isle of Man 356 353 352 350 342
Jersey 57 57 51 49 39
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 2 2 2
Netherlands 40 39 36 32 17
New Zealand 31 30 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: 1683 1639 1568 1515 1347

Data Source: HMRC

HMRC QROPS List – Changes

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

QROPS Country Added Amended Removed
Cuthbert Superannuation Fund Australia x
English Family Superannuation Fund Australia x
Grant Family Super Fund Australia x
Harpsden Superannuation Fund Australia x
Ian Scholey Super Australia x
Jas23Super Australia x
JD & GM Hicks Superannuation Fund Australia x
Joshan Jamson Super Australia x
Leadership Place Super Fund Australia x
Leask Superannuation Fund Australia x
LHH 2 Superannuation Fund Australia x
Linter Superannuation Fund Australia x
Macmillan Super Fund Australia x
Martin Mitchell Self Managed Super Fund Australia x
Pearce Algoe Superfund Australia x
Phil – Judi Lawton Super Fund Australia x
Quillion Pension Fund Australia x
S & P Cleary Superannuation Fund Australia x
Saunders QROPS Self-Managed Superannuation Fund Australia x
SRM Swan Australia x
Super Snowbird Fund Australia x
Super Traders Super Fund Australia x
Thompson Superfund Australia x
Westwood Super Fund Australia x
Withers Superannuation Fund Australia x
Athena QROPS Gibraltar x
Collis Family SIPP Isle of Man x
SolarClarity BV by Brand New Day Netherlands x
         
Totals: 27 0 1
Net change: 27

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 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

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