QROPS List – October 15, 2018

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The latest HM Revenue & Customs data for expats with QROPS offshore pensions.

HMRC QROPS List – By country

CountryNo of QROPS
Australia741
Austria5
Barbados1
Belgium1
Bulgaria3
Denmark2
EU Institution1
Finland1
Germany8
Gibraltar30
Guernsey56
Hong Kong2
India11
Ireland61
Isle of Man347
Jersey46
Kenya2
Latvia3
Liechtenstein2
Luxembourg2
Malta38
Mauritius2
Netherlands30
New Zealand31
Norway1
Sweden2
Switzerland1
USA2
Total:1432

 

HMRC QROPS List – Changes

QROPS pensions added, amended or removed from the list since October 1, 2018.

QROPSAddedAmendedRemovedCountry
Cayzer Retirement FundxAustralia
Cherry Blossom Jewelz Super FundxAustralia
Copland Superannuation FundxAustralia
DH Future FundxAustralia
J and R OzAnderson Superannuation FundxAustralia
Smith6goOz Superannuation FundxAustralia
Versorgungswerk der Rechtsanwaltinnen und Rechtsanwalte in der Freien und Hansestadt HamburgxGermany
A O Hall RATSxGuernsey
Max Life Forever Young Pension PlanxIndia
Seguso SIPPxIsle of Man
Police Pensions Regulations 2010xIsle of Man
US Voyager Retirement PlanxMalta
Voyager Retirement PlanxMalta
STM Harbour (US) Retirement SchemexMalta
STM Harbour Retirement SchemexMalta
STM Harbour Retirement Scheme SICAV P.L.C.xMalta
Catawiki BV by Brand New DayxNetherlands
Dimensional Insight Netherlands by Brand New DayxNetherlands
Dynamic Credit Partners Europe by Brand New DayxNetherlands
Epilog Laser BVxNetherlands
Humanis Capitalis by Brand New DayxNetherlands
Influencer Marketing Agency BV by Brand New DayxNetherlands
Ixly BVxNetherlands
Palantir Technologies NL by Brand New DayxNetherlands
Relay42 Netherlands BVxNetherlands
SystemsAccountants BVxNetherlands
TMNS BVxNetherlands
TOPdesk Nederland BV by Brand New DayxNetherlands
Vereniging Artsen zonder Grenzen by Brand New DayxNetherlands
SMS 12 FundxNew Zealand
ABSA Group Pension Fund  xSouth Africa
Totals:2335
Net change:18

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 November 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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