HM Revenue & Customs has amended the June QROPS List for the fourth time in three weeks by removing a Guernsey QROPS offshore pension.
Delisting the Scorpion Retirement Annuity Trust was the only change in the newly published QROPS List of pensions self-certifying they meet HMRC QROPS rules.
The suspension takes the number of Guernsey QROPS down to 27.
Guernsey has suffered as a QROPS centre under new HMRC compliance rules, reducing the number of pensions from 152 on April 6.
HMRC declines to comment about the listings of individual QROPS pensions.
From the start of 2017, 298 pensions and 11 financial centres have lost their QROPS status.
Since QROPS were introduced in April 2006, almost 110,000 pension savers have switched at least £8.8 billion from their UK funds to QROPS, says HMRC.
QROPS are offshore retirement schemes for British expats or overseas workers who have UK pension savings.
The next HM Revenue and Customs QROPS List is expected on July 1, 2017.
For more information about QROPS and the benefits it provides, download the iExpats QROPS Guide or complete the Get Advice form.
QROPS List By Financial Jurisdiction
| Financial centre | No of QROPS |
|---|---|
| Australia | 434 |
| Austria | 6 |
| Barbados | 1 |
| Belgium | 1 |
| Bulgaria | 3 |
| Denmark | 1 |
| EU Institution | 1 |
| Finland | 1 |
| Germany | 9 |
| Gibraltar | 37 |
| Guernsey | 27 |
| Hong Kong | 21 |
| Hungary | 1 |
| India | 13 |
| Ireland | 51 |
| Isle of Man | 234 |
| Jersey | 32 |
| Kenya | 1 |
| Latvia | 3 |
| Liechtenstein | 1 |
| Luxembourg | 2 |
| Malta | 34 |
| Mauritius | 2 |
| Netherlands | 14 |
| New Zealand | 30 |
| Norway | 1 |
| South Africa | 3 |
| Spain | 1 |
| Switzerland | 1 |
| Total: | 966 |
Source: HMRC
The table shows the net number of schemes, accounting for new listings and removals since the publication of the last list.
