QROPS List – March 15, 2019

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

HMRC QROPS List – By country

Financial jurisdiction No of QROPS
Australia 848
Austria 4
Barbados 1
Belgium 1
Bulgaria 3
Denmark 2
EU Institution 1
Finland 1
Germany 9
Gibraltar 31
Guernsey 64
Hong Kong 4
India 11
Ireland 65
Isle of Man 352
Jersey 51
Kenya 2
Latvia 3
Liechtenstein 2
Luxembourg 2
Malta 38
Mauritius 2
Netherlands 36
New Zealand 30
Norway 1
Sweden 1
Switzerland 1
USA 2
Total: 1568

Data Source: HMRC

HMRC QROPS List – Changes

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

QROPS Country Added Amended Removed
A&E Super Fund Australia x
Andy Davidson Super Fund Australia x
Blair Family Super Fund Australia x
Carley Super Fund Australia x
David Cannon Family Super Australia x
Griffin Super Fund Australia x
Hawkins Family SMSF Australia x
Life in the Sun SF Australia x
Lingard Family SMSF Australia x
McSephney Superannuation Fund Australia x
Murgatroyd Super Fund Australia x
RG Plus55 SMSF Australia x
Robert Celtic Kelly SMSF Australia x
Towers-Ferrier Super Australia x
Tranquillium Super Australia x
Bundespensionskasse AG Austria x
St Jacques No4 Pension Plan Guernsey x
St Jacques No5 Pension Plan Guernsey x
St Jacques No6 Pension Plan Guernsey x
Prosperous Voyage Retirement Annuity Trust Scheme Guernsey x
Kotak Lifetime Income Plan India x
Max Life Guaranteed Life Time Income Plan India x
Indifran Limited Jersey x
Bynder BV by Brand New Day Netherlands x
     
Totals: 21 0 3
Net change: 18

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 April 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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