QROPS List – October 15, 2019

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

HMRC QROPS List – By country

Country No of QROPS
Australia 1026
Austria 4
Barbados 1
Belgium 1
Bulgaria 3
Canada 2
Denmark 2
EU Institution 1
Finland 1
Germany 8
Gibraltar 31
Guernsey 61
Hong Kong 10
India 13
Ireland 69
Isle of Man 358
Jersey 62
Kenya 2
Latvia 3
Liechtenstein 2
Luxembourg 2
Malta 36
Netherlands 50
New Zealand 32
Norway 1
Sweden 1
Switzerland 1
Total: 1785

Data Source: HMRC

HMRC QROPS List – Changes

QROPS pensions added, amended or removed from the list since June 15, 2019.

QROPS Country Added Amended Removed
Cooper Corporate Superannuation Fund Australia x
Elman Superannuation Fund Australia x
Hodgskins Superannuation Fund Australia x
Hughes and Hughes Super Fund Australia x
Julian Owens Super Fund Australia x
Leeds MOT Superannuation Fund Australia x
Lesley Fromant Superannuation Fund Australia x
M & G Stebbings Superannuation Fund Australia x
MRGough Super Fund Australia x
PJ Hodgson Super Fund Australia x
Red Dragon Superannuation Fund Australia x
Richard Womack Super Fund Australia x
Savill Family Superannuation Fund Australia x
Stephen D Johns Australia x
Tarnagulla Australia x
Wagstaff Super Fund Australia x
IA Clarington Investments Inc Retirement Savings Plan (QROPS) Canada x
La Mirousse Retirement Annuity Trust Scheme Guernsey x
Mazarron Retirement Annuity Trust Guernsey x
Fiduchi International Retirement Trust Scheme Jersey x
TIBCO Software Services Netherlands BV by Brand New Day Netherlands x
NZ Endeavour Fund New Zealand x
Totals: 19 0 3
QROPS listed October 1, 2019: 1769
Net change since October 1, 2019: 16
QROPS listed October 15, 2019: 1785

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 List is scheduled for November 1, 2019.

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
  • Canada
  • 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

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