Qualifying Recognised Overseas Pension Scheme (QROPS) providers are still charging ahead with opening new schemes.
The latest HM Revenue & Customs (HMRC) QROPS list shows another seven pensions opened in the past two weeks, taking the number worldwide to 3,547 across 42 financial jurisdictions.
The top 10 providers are still powering ahead of the remaining financial centres.
With a 90% share of the market by number of QROPS, that does not look set to change any time soon.
Australia leads the market by number of QROPS with 1,515 pensions – up 261 on the same period a year ago.
New QROPS schemes
According to the latest QROPS list, schemes opened in the past two weeks in:
- Australia (7)
- Canada, Guernsey, Ireland and Mauritius (One each)
Meanwhile, QROPS left the list in:
- Luxembourg (2)
- Barbados and The Netherlands (One each)
Just 14 financial centres opened more than a single QROPS in the past year.
Of those only Australia (261) was in triple figures and four in double figures – Ireland (34), Guernsey (30), Gibraltar (18) and New Zealand (11).
| QROPS List - October 15, 2014 | ||
|---|---|---|
| Financial jurisdiction | October 15, 2013 | October 15, 2014 |
| Australia | 1254 | 1515 |
| Austria | 9 | 11 |
| Barbados | 2 | 1 |
| Belgium | 22 | 23 |
| Bulgaria | 3 | 3 |
| Canada | 98 | 101 |
| Czech Republic | 4 | 3 |
| Denmark | 8 | 9 |
| European Union | 1 | 1 |
| Finland | 4 | 3 |
| France | 40 | 40 |
| Germany | 56 | 55 |
| Gibraltar | 23 | 41 |
| Greece | 1 | 1 |
| Guernsey | 52 | 82 |
| Hong Kong | 2 | 4 |
| Hungary | 1 | 1 |
| Iceland | 3 | 3 |
| India | 26 | 12 |
| Ireland | 736 | 770 |
| Isle of Man | 229 | 224 |
| Italy | 46 | 48 |
| Jamaica | 2 | 2 |
| Jersey | 135 | 137 |
| Latvia | 1 | 3 |
| Liechtenstein | 2 | 3 |
| Luxembourg | 8 | 8 |
| Malta | 16 | 22 |
| Mauritius | 2 | 2 |
| Netherlands | 105 | 114 |
| New Zealand | 48 | 59 |
| Norway | 7 | 8 |
| Portugal | 23 | 23 |
| Russian Federation | 1 | 1 |
| South Africa | 31 | 32 |
| Spain | 16 | 16 |
| Sri Lanka | 1 | 1 |
| Sweden | 8 | 7 |
| Switzerland | 137 | 139 |
| Trinidad | 2 | 2 |
| Turkey | 3 | 3 |
| USA | 15 | 14 |
| Grand Total | 3183 | 3547 |
| Source: HMRC | ||
