QROPS List – November 15, 2021

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The British taxman has carried on vetting offshore pensions for expats as another 55 QROPS were delisted in the past two weeks to add to the 28 delisted last month.

Since the middle of October, 83 QROPS have been delisted across 12 countries.

Australia, the largest QROPS provider, suffered the most delistings – 65 balanced by 40 new schemes.

After the QROPS changes, the latest QROPS list shows 2,340 pensions are listed worldwide – a drop of 40 on the year’s peak of 2,380 QROPS listed in October.

HMRC QROPS List – By country

CountryQROPS registered
Australia1510
Austria3
Barbados1
Belgium4
Bulgaria3
Canada5
Denmark1
EU Institution1
Finland1
Germany6
Gibraltar30
Guernsey73
Hong Kong10
India18
Ireland69
Isle of Man363
Jersey76
Kenya2
Latvia4
Liechtenstein1
Luxembourg2
Malta30
Netherlands85
New Zealand36
Norway1  
Slovakia  1
Sweden2
Switzerland22
Grand Total2340

Source: HMRC

HMRC QROPS List – Top 10 countries

Countries by number of QROPS listed offering the most QROPS:

CountryQROPS registered
Australia1510
Isle of Man363
Netherlands85
Jersey76
Guernsey73
Ireland69
New Zealand36
Gibraltar30
Malta30
India18
Grand Total2290

Source: HMRC

HMRC QROPS List – Changes

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

QROPSCountryAddedAmendedRemoved
     
Adams ROPS FundAustraliax  
Adrian Downes SuperfundAustraliax  
Barry Harvey Enterprises Superannuation FundAustraliax  
Carroll ROPS FundAustraliax  
CM&ET SuperfundAustraliax  
Crumlin Super FundAustraliax  
De Mel Superannation FundAustraliax  
Delta 4 Superannuation FundAustraliax  
Dorics QROPS Superannuation SchemeAustraliax  
GCGRAY Super FundAustraliax  
Glen ROPS FundAustraliax  
J & A Miller Super FundAustraliax  
J A & L K Cornell Superannuation FundAustraliax  
Jobar SMSFAustraliax  
John Gerard SMSFAustraliax  
Johnsor Super FundAustraliax  
Leefy SuperannuationAustraliax  
Melgaard ROPS FundAustraliax  
Mitzie Retirement FundAustraliax  
MNM Superannuation FundAustraliax  
N A Williams SuperfundAustraliax  
R & L Hayward SMSFAustraliax  
Robertson Superannuation FundAustraliax  
SugardaddyfundAustraliax  
Summarmet SIPPAustraliax  
The David and Melanie Bonfield Superannuation FundAustraliax  
The JT (IOT) Limited Pension SchemeAustraliax  
AER (Plus 55) Super FundAustralia  x
Amblin SuperfundAustralia  x
Bell Heather Super FundAustralia  x
Brennan RSFAustralia  x
Cardwell 55 Plus Super FundAustralia  x
Cohen ROPS Super FundAustralia  x
EdlynrosSMSFAustralia  x
Elliot Family Super FundAustralia  x
Emilia Super FundAustralia  x
Final Curve Self Managed Superannuation FundAustralia  x
Frejya Superannuation FundAustralia  x
Green & 55 Super FundAustralia  x
Gould Family Superannuation FundAustralia  x
Harvey Swift Family Super FundAustralia  x
Havelon Superannuation FundAustralia  x
Hedge Super FundAustralia  x
Houghtons Super FundAustralia  x
Ian Heap SMSFAustralia  x
Intrepid Superannuation FundAustralia  x
Jovcic (Plus 55) Super FundAustralia  x
Kirkbride plus 55Australia  x
LDH Over-55 Super FundAustralia  x
Leiper (Plus 55) Super FundAustralia  x
Lennon Fraser Age 55 Superannuation FundAustralia  x
Lette 55 Super FundAustralia  x
Malkiin Family Superannuation FundAustralia  x
Mark Case PensionAustralia  x
N Saunders Over 55 Super FundAustralia  x
Nochar Retirement FundAustralia  x
NP JP O’Brien Super FundAustralia  x
One Nil Superannuation FundAustralia  x
Owen (Age plus 55) Super FundAustralia  x
Phipps Super FundAustralia  x
Probuck Superannuation FundAustralia  x
Pruhonice SuperAustralia  x
R L Michael & T F Michael Family Superannuation FundAustralia  x
Renukas Woofie Super FundAustralia  x
S & M McLuckie Super FundAustralia  x
Shadwell Super FundAustralia  x
Super DevereauxAustralia  x
Tickner SMSFAustralia  x
UNCLE SuperfundAustralia  x
VT McDonald Super FundAustralia  x
Willowend 55 plus Superannuation FundAustralia  x
European Central Bank ECB Retirement PlanGermany  x
Sovereign Retirement Annuity Trust SchemeGuernseyx  
Acorn Life Personal Pension PlanIreland  x
Pivotal Database Service Ltd – John Durcan SSAPIreland  x
DMP SIPPIsle of Manx  
Eleven SIPPIsle of Man  x
KJMT Retirement FundIsle of Man  x
Santander International DC Pension Scheme (previously Abbey National International Limited Pension Scheme)Jersey x 
Heppward Investments LimitedJersey  x
Public Employees Contributory Retirement SchemeJersey  x
Libert Life Boresha Maisha Individual ProvidentKenya  x
Novia Global Retirement PlanMaltax  
Pecunia Retirement Benefit SchemeMalta  x
Pensioenfonds Horeca & CateringNetherlands  x
Pension Plan ARP/ASP of Mars PensioenfondsNetherlands  x
Totals: 30155
QROPS listed November 01, 2021:   2365
Net change since November 01, 2021:   -25
QROPS listed November 15, 2021:   2340

The next QROPS list is due on December 01, 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.

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

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