QROPS List – October 1, 2020

Lisa Smith, BA (Hons), CeFA
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More QROPS expat pensions were opened in the past two weeks than at any time since May 2016, according to the latest data from HM Revenue & Customs.

Three new expat pensions were listed every day since September 15 on average – adding up to 44 new pensions joining the Qualifying Recognised Overseas Pension Scheme.

Australia added 40 new QROPS and saw two schemes delisted, while three were started in The Netherlands and one in the Isle of Man.

The net change was 44 QROPS, taking the global total to 2032 across 28 countries – the most QROPS listed since June 2015, when the total reached 3702 before tax changes saw more than 3000 schemes removed from the official HMRC QROPS List.

Two out of three listed QROPS are based in Australia, which now hosts 1239 of the expat pensions.

HMRC QROPS List – By country

CountryNo of QROPS
Australia1239
Austria4
Barbados1
Belgium3
Bulgaria3
Canada3
Denmark2
EU Institution1
Finland1
Germany8
Gibraltar37
Guernsey66
Hong Kong10
India13
Ireland70
Isle of Man362
Jersey66
Kenya2
Latvia3
Liechtenstein1
Luxembourg2
Malta34
Netherlands63
New Zealand32
Norway1
Sweden1
Switzerland2
USA2
Total:2032
Data Source: HMRC

HMRC QROPS List – Top 10 countries

Countries by number of QROPS listed offering the most QROPS

CountryNo of QROPS
Australia1239
Isle of Man362
Ireland70
Guernsey66
Jersey66
Netherlands63
Gibraltar37
Malta34
New Zealand32
India13
Total:1982
Data Source: HMRC

HMRC QROPS List – Changes

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

QROPSCountryAddedAmendedRemoved
AJ and AJ Glass SMSFAustraliax
AKAH Superannuation FundAustraliax
Alberto Alvarez-Campos Super FundAustraliax
Alison Berry Family Superannuation FundAustraliax
Arun & Hervinder Family Superannuation FundAustraliax
Birds 6th Hole SuperAustraliax
Brewerton Reed Superannuation FundAustraliax
Broadfield ROPS FundAustraliax
Capital Investment PortfolioAustraliax
Clive Bolton SMSFAustraliax
Collette Margaret Dunn Super FundAustraliax
Coppabella Superannuation FundAustraliax
D W Francis Super FundAustraliax
Darcy Family Super FundAustraliax
Digital SuperAustraliax
Garwell SuperAustraliax
Goodall Superannuation FundAustraliax
Ian Elton Superannuation FundAustraliax
Jacques Super FundAustraliax
JILLMW Super FundAustraliax
JK Power SMSFAustraliax
Lane Superannuation FundAustraliax
Laverock Bank Superannuation FundAustraliax
Lulu Super FundAustraliax
M & M Ryan Superannuation FundAustraliax
Maple Dragon ROPS FundAustraliax
Martin Superannuation FundAustraliax
MB & FL Woolard Family Superannuation FundAustraliax
McAllister Superannuation FundAustraliax
McKinstry Super FundAustraliax
Michael Aynsley Superannuation FundAustraliax
Muxlow Retire Tasmania Superannuation FundAustraliax
Nash ROPS FundAustraliax
Neve UK Superannuation FundAustraliax
Nigel And Jane Bates Super FundAustraliax
O’Donoghue Super FundAustraliax
OzGale’s Super FundAustraliax
Poyser SMSFAustraliax
Rhall UK Super FundAustraliax
Richard Weston Superannuation FundAustraliax
Stevens Super FundAustraliax
Trustee for Maxine SuperAustraliax
TumLeoPensionAustraliax
Up Ship Creek Super FundAustraliax
Y-Fenni Abergavenny Superannuation FundAustraliax
Nyn TashteyIsle of Manx
Anomaly B.V by Brand New DayNetherlandsx
Robarts Clinical Trials B.V. by Brand New DayNetherlandsx
ZVC Netherlands B.V. by Brand New DayNetherlandsx
Totals:4402
QROPS listed September 15, 2020: 1987
Net change since September 15, 2020: 42
QROPS listed October 01, 2020: 2029
QROPS country  AddedRemoved
Totals:00
Countries with QROPS listed September 15, 2020: 28
Net change since September 15, 2020: 0
Countries with QROPS listed October 01, 2020: 28

QROPS List FAQ

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

What the list means and how to use the data is often misunderstood, so here are the answers to some of the most sked 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 certain to be QROPS. Retirement savers should check the latest QROPS list before transferring any money.

QROPS Overseas Transfer Charge

The QROPS 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
  • 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
  • Canada
  • Gibraltar
  • Guernsey
  • Hong Kong (China)
  • India
  • Isle of Man
  • Jersey
  • Kenya
  • 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

Why does HMRC remove pensions from the QROPS List?

Pensions are delisted 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, so is excluded from the list

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

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