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
| Country | No of QROPS |
|---|---|
| Australia | 1239 |
| Austria | 4 |
| Barbados | 1 |
| Belgium | 3 |
| Bulgaria | 3 |
| Canada | 3 |
| Denmark | 2 |
| EU Institution | 1 |
| Finland | 1 |
| Germany | 8 |
| Gibraltar | 37 |
| Guernsey | 66 |
| Hong Kong | 10 |
| India | 13 |
| Ireland | 70 |
| Isle of Man | 362 |
| Jersey | 66 |
| Kenya | 2 |
| Latvia | 3 |
| Liechtenstein | 1 |
| Luxembourg | 2 |
| Malta | 34 |
| Netherlands | 63 |
| New Zealand | 32 |
| Norway | 1 |
| Sweden | 1 |
| Switzerland | 2 |
| USA | 2 |
| Total: | 2032 |
HMRC QROPS List – Top 10 countries
Countries by number of QROPS listed offering the most QROPS
| Country | No of QROPS |
|---|---|
| Australia | 1239 |
| Isle of Man | 362 |
| Ireland | 70 |
| Guernsey | 66 |
| Jersey | 66 |
| Netherlands | 63 |
| Gibraltar | 37 |
| Malta | 34 |
| New Zealand | 32 |
| India | 13 |
| Total: | 1982 |
HMRC QROPS List – Changes
QROPS pensions added, amended, or removed in the latest list
| QROPS | Country | Added | Amended | Removed |
| AJ and AJ Glass SMSF | Australia | x | ||
| AKAH Superannuation Fund | Australia | x | ||
| Alberto Alvarez-Campos Super Fund | Australia | x | ||
| Alison Berry Family Superannuation Fund | Australia | x | ||
| Arun & Hervinder Family Superannuation Fund | Australia | x | ||
| Birds 6th Hole Super | Australia | x | ||
| Brewerton Reed Superannuation Fund | Australia | x | ||
| Broadfield ROPS Fund | Australia | x | ||
| Capital Investment Portfolio | Australia | x | ||
| Clive Bolton SMSF | Australia | x | ||
| Collette Margaret Dunn Super Fund | Australia | x | ||
| Coppabella Superannuation Fund | Australia | x | ||
| D W Francis Super Fund | Australia | x | ||
| Darcy Family Super Fund | Australia | x | ||
| Digital Super | Australia | x | ||
| Garwell Super | Australia | x | ||
| Goodall Superannuation Fund | Australia | x | ||
| Ian Elton Superannuation Fund | Australia | x | ||
| Jacques Super Fund | Australia | x | ||
| JILLMW Super Fund | Australia | x | ||
| JK Power SMSF | Australia | x | ||
| Lane Superannuation Fund | Australia | x | ||
| Laverock Bank Superannuation Fund | Australia | x | ||
| Lulu Super Fund | Australia | x | ||
| M & M Ryan Superannuation Fund | Australia | x | ||
| Maple Dragon ROPS Fund | Australia | x | ||
| Martin Superannuation Fund | Australia | x | ||
| MB & FL Woolard Family Superannuation Fund | Australia | x | ||
| McAllister Superannuation Fund | Australia | x | ||
| McKinstry Super Fund | Australia | x | ||
| Michael Aynsley Superannuation Fund | Australia | x | ||
| Muxlow Retire Tasmania Superannuation Fund | Australia | x | ||
| Nash ROPS Fund | Australia | x | ||
| Neve UK Superannuation Fund | Australia | x | ||
| Nigel And Jane Bates Super Fund | Australia | x | ||
| O’Donoghue Super Fund | Australia | x | ||
| OzGale’s Super Fund | Australia | x | ||
| Poyser SMSF | Australia | x | ||
| Rhall UK Super Fund | Australia | x | ||
| Richard Weston Superannuation Fund | Australia | x | ||
| Stevens Super Fund | Australia | x | ||
| Trustee for Maxine Super | Australia | x | ||
| TumLeoPension | Australia | x | ||
| Up Ship Creek Super Fund | Australia | x | ||
| Y-Fenni Abergavenny Superannuation Fund | Australia | x | ||
| Nyn Tashtey | Isle of Man | x | ||
| Anomaly B.V by Brand New Day | Netherlands | x | ||
| Robarts Clinical Trials B.V. by Brand New Day | Netherlands | x | ||
| ZVC Netherlands B.V. by Brand New Day | Netherlands | x | ||
| Totals: | 44 | 0 | 2 | |
| QROPS listed September 15, 2020: | 1987 | |||
| Net change since September 15, 2020: | 42 | |||
| QROPS listed October 01, 2020: | 2029 | |||
| QROPS country | Added | Removed | ||
| Totals: | 0 | 0 | ||
| 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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