The latest HM Revenue & Customs data for expats with QROPS offshore pensions.
HMRC QROPS List – By country
| Financial jurisdiction | No of QROPS |
| Australia | 761 |
| Austria | 5 |
| Barbados | 1 |
| Belgium | 1 |
| Bulgaria | 3 |
| Denmark | 2 |
| EU Institution | 1 |
| Finland | 1 |
| Germany | 8 |
| Gibraltar | 30 |
| Guernsey | 57 |
| Hong Kong | 2 |
| India | 9 |
| Ireland | 63 |
| Isle of Man | 348 |
| Jersey | 49 |
| Kenya | 2 |
| Latvia | 3 |
| Liechtenstein | 2 |
| Luxembourg | 2 |
| Malta | 38 |
| Mauritius | 2 |
| Netherlands | 30 |
| New Zealand | 32 |
| Norway | 1 |
| Sweden | 2 |
| Switzerland | 1 |
| USA | 2 |
| Total: | 1458 |
Data Source: HMRC
HMRC QROPS List – Changes
QROPS pensions added, amended or removed from the list since November 1, 2018.
| QROPS | Country | Added | Amended | Removed |
| Alan and Lynda McKay Superannuation Fund | Australia | x | ||
| B & T Blake Superannuation Fund | Australia | x | ||
| Clark Saunders Super Fund | Australia | x | ||
| Gonzo Drummer Fund | Australia | x | ||
| Hussein SMSF | Australia | x | ||
| Livinginoz Fund | Australia | x | ||
| Manning Superannuation Fund | Australia | x | ||
| Sedona Retirement Annuity Trust Scheme | Guernsey | x | ||
| Bartholomew McElhatton Pension Trust | Ireland | x | ||
| Jeremiah Cleary Pension Trust | Ireland | x | ||
| Seguso SIPP | Isle of Man | x | ||
| Ardonan Isle of Man Pension Plan | Isle of Man | x | ||
| Kreston Isle of Man Pension Plan | Isle of Man | x | ||
| Benson Limited | Jersey | x | ||
| Totals: | 13 | 0 | 1 |
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.
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 December 1, 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
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