QROPS List – September 1, 2020

Lisa Smith, BA (Hons), CeFA
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10 new offshore QROPS have opened since the last list was published on August 18.

Seven QROPS were opened in Australia, with one added in Germany and two in The Netherlands.

The changes take the total on the official HM Revenue & Customs QROPS List to 1,980 across 28 countries. 

HMRC QROPS List – By country

CountryNo of QROPS
Australia1190
Austria4
Barbados1
Belgium3
Bulgaria3
Canada3
Denmark2
EU Institution1
Finland1
Germany8
Gibraltar37
Guernsey66
Hong Kong10
India13
Ireland70
Isle of Man361
Jersey66
Kenya2
Latvia3
Liechtenstein1
Luxembourg2
Malta34
Netherlands61
New Zealand32
Norway1
Sweden1
Switzerland2
USA2
Grand Total1980
Data Source: HMRC

HMRC QROPS List – Top 10 countries

Countries by number of QROPS listed offering the most QROPS

CountryNo of QROPS
Australia1190
Isle of Man361
Ireland70
Guernsey66
Jersey66
Netherlands61
Gibraltar37
Malta34
New Zealand32
India13
Grand Total1930
Data Source: HMRC

HMRC QROPS List – Changes

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

QROPSCountryAddedAmendedRemoved
Adawn Super FundAustraliax
Akiacopi Super FundAustraliax
Andrew Bernard Tooth QROPS Super FundAustraliax
Gold Coast Bound FundAustraliax
K and S Gallacher Superannuation FundAustraliax
L & A Donoghue Superannuation FundAustraliax
Park Family Superannuation FundAustraliax
Condor Lebensversicherungs-AG Sofort-RenteGermanyx
Mobiquity B.V. by Brand New DayNetherlandsx
Stichting Pensioenfonds voor de ArchitectenbureausNetherlandsx
   
Totals:1000
QROPS listed August 18, 2020: 1970
Net change since August 18, 2020: 10
QROPS listed September 01, 2020: 1980
QROPS country  AddedRemoved
  
Totals:00
Countries with QROPS listed August 18, 2020: 28
Net change since August 18, 2020: 0
 
Countries with QROPS listed September 01, 2020: 28
The next QROPS list is due on September 15, 2020

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 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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