QROPS List – November 1, 2018

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

HMRC QROPS List – By country

CountryNo of QROPS
Australia754
Austria5
Barbados1
Belgium1
Bulgaria3
Denmark2
EU Institution1
Finland1
Germany8
Gibraltar30
Guernsey56
Hong Kong2
India9
Ireland61
Isle of Man348
Jersey48
Kenya2
Latvia3
Liechtenstein2
Luxembourg2
Malta38
Mauritius2
Netherlands30
New Zealand32
Norway1
Sweden2
Switzerland1
USA2
Total:1447

Data Source: HMRC

HMRC QROPS List – Changes

QROPS pensions added, amended or removed from the list since October 15, 2018.

QROPSCountryAddedAmendedRemoved
A & C Fowler SMSFAustraliax
DKL & JL Grant Super FundAustraliax
Down Super FundAustraliax
Gandi Superannuation FundAustraliax
Hewgill Superannuation FundAustraliax
Howard Filer SuperfundAustraliax
Limehouse FundAustraliax
Norah Technology S/F A/CAustraliax
Phillips Super FundAustraliax
Robins SMSFAustraliax
SJM Future Investment FundAustraliax
Sulama Superannuation FundAustraliax
Whelan Super FundAustraliax
HDFC Life Guaranteed Pension PlanIndiax
HDFC Life Personal Pension PlusIndiax
Bank of America Merrill Lynch Ireland Pension SchemeIrelandx
Seguso SIPPIsle of Manx
Police Pensions Regulations 2010Isle of Manx
Eagle’s Trust LimitedJerseyx
Semper Augustus LimitedJerseyx
SSAS 4 FundNew Zealandx  
Totals:1812

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 November 15, 2018.

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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