QROPS List – March 15, 2019

502

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

HMRC QROPS List – By country

Financial jurisdictionNo of QROPS
Australia848
Austria4
Barbados1
Belgium1
Bulgaria3
Denmark2
EU Institution1
Finland1
Germany9
Gibraltar31
Guernsey64
Hong Kong4
India11
Ireland65
Isle of Man352
Jersey51
Kenya2
Latvia3
Liechtenstein2
Luxembourg2
Malta38
Mauritius2
Netherlands36
New Zealand30
Norway1
Sweden1
Switzerland1
USA2
Total:1568

Data Source: HMRC

HMRC QROPS List – Changes

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

QROPSCountryAddedAmended Removed
A&E Super FundAustraliax
Andy Davidson Super FundAustraliax
Blair Family Super FundAustraliax
Carley Super FundAustraliax
David Cannon Family SuperAustraliax
Griffin Super FundAustraliax
Hawkins Family SMSFAustraliax
Life in the Sun SFAustraliax
Lingard Family SMSFAustraliax
McSephney Superannuation FundAustraliax
Murgatroyd Super FundAustraliax
RG Plus55 SMSFAustraliax
Robert Celtic Kelly SMSFAustraliax
Towers-Ferrier SuperAustraliax
Tranquillium SuperAustraliax
Bundespensionskasse AGAustriax
St Jacques No4 Pension PlanGuernseyx
St Jacques No5 Pension PlanGuernseyx
St Jacques No6 Pension PlanGuernseyx
Prosperous Voyage Retirement Annuity Trust SchemeGuernseyx
Kotak Lifetime Income PlanIndiax
Max Life Guaranteed Life Time Income PlanIndiax
Indifran LimitedJerseyx
Bynder BV by Brand New DayNetherlandsx
   
Totals:2103
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.

Booking.com

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

Leave a Reply