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