QROPS List – November 01, 2021

The British taxman has had a busy few days running a rule over offshore pensions for expats.

HM Revenue & Customs has removed 28 pensions from the Qualifying Recognised Overseas Pension Scheme since the last list was published on October 15.

The delistings were balanced by 14 new offshore pensions and three schemes that amended rules.

Most of the activity was in Australia, the country with the most QROPS., where 13 new pensions opened, two saw their contracts amended, and 20 were delisted.

After the QROPS overhaul, 2,365 QROPS are listed worldwide – a drop of 15 on the year’s peak of 2,380 QROPS listed in October.

HMRC QROPS List – Top 10 countries

Countries by number of QROPS listed offering the most QROPS

Country	QROPS registered
Australia	1527
Isle of Man	364
Netherlands	87
Jersey	78
Guernsey	72
Ireland	71
New Zealand	36
Gibraltar	30
Malta	30
India	18
Grand Total	2313

HMRC QROPS List – By country

Country	QROPS registered
Australia	1527
Austria	3
Barbados	1
Belgium	4
Bulgaria	3
Canada	5
Denmark	1
EU Institution	1
Finland	1
Germany	7
Gibraltar	30
Guernsey	72
Hong Kong	10
India	18
Ireland	71
Isle of Man	364
Jersey	78
Kenya	3
Latvia	4
Liechtenstein	1
Luxembourg	2
Malta	30
Netherlands	87
New Zealand	36
Norway	1
Slovakia	1
Sweden	2
Switzerland	2
Grand Total	2365

HMRC QROPS List – Changes

QROPS pensions added, amended, or removed in the latest list

QROPS	Country	Added	Amended	Removed
7 Diamond Superannuation Fund	Australia	x
ADP ROPS Fund	Australia	x
Anlezark Family SMSF	Australia	x
Cassells Super Fund	Australia	x
Dumyat Superannuation Fund	Australia	x
Forza Superannuation Fund	Australia	x
Gillyssuper	Australia	x
Granville SMSF	Australia	x
Hughes ROPS Fund	Australia	x
Hunt ROPS Fund	Australia	x
Jameson ROPS Fund	Australia	x
Meese ROPS Fund	Australia	x
The Trustee for the Cowan Super Retirement Fund	Australia	x
Archer Family SMSF	Australia		x
SGT-2 Super Fund	Australia		x
CatrionaPallett Superannuation Fund	Australia			x
DB65 Superfund	Australia			x
Gilmour Family Superannuation Fund	Australia			x
HWH 4 JVN	Australia			x
J & N Bradshaw Superannuation Fund	Australia			x
Jenkins McGrath Super Fund	Australia			x
JM Pflaum Super Fund	Australia			x
Juckes Superannuation Fund	Australia			x
L Bispham Superannuation Fund	Australia			x
McCarroll Super Fund	Australia			x
P & J Sweeney Super Fund	Australia			x
Peter J Douglas Super Fund	Australia			x
Ras Retirement Fund	Australia			x
S & J Thomas Superannuation Fund	Australia			x
Skeoch Over 55’s Superannuation Fund	Australia			x
Smith Retirement SMSF	Australia			x
Supercrossey Fund	Australia			x
Synga Super Fund	Australia			x
Telrass Super Fund	Australia			x
Wildman Family Super Fund	Australia			x
Mandatum Life Pension Scheme	Finland			x
Europa Lite Pensions Trust	Gibraltar		x
Albion Green Retirement Pension	Hong Kong			x
Blackthorn Pension Scheme	Isle of Man			x
Bolt Family 2 Personal Pension Scheme	Isle of Man			x
David Haddow Personal Pension Scheme	Isle of Man			x
Mayoco Personal Pension Scheme	Isle of Man			x
Libert Life Boresha Maisha Individual Provident	Kenya	x
ITC Personal Retirement Scheme	Malta			x
Lightfoot Ltd Superannuation Scheme	New Zealand			x
Totals:		14	3	28
QROPS listed October 15, 2021:				2378
Net change since October 15, 2021:				-14
QROPS listed November 01, 2021:				2364
QROPS country			Added	Removed
N\a
Totals:			0	0
Countries with QROPS listed October 15, 2021:				28
Net change since October 15, 2021:				0
Countries with QROPS listed November 01, 2021:				28
The next QROPS list is due on November 15, 2021

QROPS List FAQ

The QROPS List is an invaluable free tool for advisers and retirement savers seeking an expat pension.

Using the data is often misunderstood, so here are the answers to some of the most asked questions about QROPS expat pensions.

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 sure to be QROPS. So retirement savers should check the latest QROPS list before transferring any money.

QROPS Overseas Transfer Charge

The overseas transfer charge is 25% of the transfer value of a fund moved 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
• Ireland
• Latvia
• Liechtenstein
• Luxembourg
• Malta
• The Netherlands
• Norway
• Slovakia
• Sweden

QROPS countries outside the EEA

Outside the EEA, expats are subject to the transfer charge if they do not live in the same country as the pension is administered – these are:

• Australia
• Barbados
• Canada
• Gibraltar
• Guernsey
• Hong Kong (China)
• India
• Isle of Man
• Jersey
• Kenya
• New Zealand
• South Africa
• Switzerland

Other exceptions to the transfer charge may apply if an employer or multinational non-government organisation runs the scheme, such as the EU QROPS.

A five-year residence rule may also apply.

Click here for official guidance on the overseas transfer charge

Why does HMRC remove pensions from the QROPS List?

HMRC delists QROPS for several reasons, including:

• The provider shuts shop
• The last pension member has left the scheme, either by transferring out, dying or exhausting the fund
• Tax avoidance issues
• The scheme stays a QROPS, but the provider invokes confidentiality, excluding the pension from the list

Delisting should not suggest wrongdoing by a retirement saver or provider.

Related Information

Below is a list of related articles you may find of interest.

• Where Can Expats Live And Have A QROPS Pension?
• QROPS List – October 1, 2020
• QROPS List – June 15, 2019
• QROPS List – February 15, 2019
• QROPS List – April 15, 2019