QROPS Numbers Hit New High For 19th Month In A Row

Qualifying Recognised Overseas Pension Schemes (QROPS) continue to show they are the rising star of expat pension plans by reaching a new high for the 19^th month in a row.

As HM Revenue and Customs released the latest QROPS List on May 15, 22013, the key facts are:

• The number of QROPS pension plans worldwide is 3,015

• 46 different financial jurisdictions offer QROPS

• Australia is the dominant QROPS provider with 1,145 schemes. This represents 38% of the market.

• The number of Australian schemes rose by six in the past fortnight – from 1,139 to 1,145

• Other jurisdictions that increased QROPS since May 1, 2013, are Ireland (3), the Isle of Man (2), Jersey (1) and Guernsey (1)

• No schemes closed

• No new jurisdictions entered the market and none left

QROPS were first introduced as an expat pension on April 6, 2006 – by the end of the year 296 pensions had been established, with Ireland (66) and Australia (63) leading the rankings.

The QROPS List gives the details of pension schemes self-certifying that they meet qualifying conditions laid down by HM Revenue and Customs.

The list is published fortnightly – the next is due on June 1, 2013.

QROPS by financial jurisdiction – May 15, 2013

Source: HMRC May 15, 2013