The Qualifying Recognised Overseas Pension Schemes (QROPS) market worldwide consolidated but showed little change with the publication of the latest list of schemes worldwide by HM Revenue & Customs (HMRC).
In the top 10 jurisdictions, placings remained the same, with even though 11 new QROPS opened and one was suspended.
Jersey saw one QROPS suspended, staying in fourth ranking but now level-pegging with Switzerland. Each has 135 QROPS on the list.
The top 10 jurisdictions accounted for 89% of all QROPS with 2,924 pensions out of the record total of 3,274.
| QROPS - Top 10 Jurisdiction Tracker - February 17, 2014 | ||
|---|---|---|
| QROPS jurisdiction | No of QROPS | Market share by number of QROPS |
| 1. Australia | 1333 | 40.22% |
| 2. Ireland | 743 | 22.42% |
| 3. Isle of Man | 235 | 7.09% |
| 4. Switzerland | 136 | 4.10% |
| 5. Jersey | 135 | 4.07% |
| 6. Netherlands | 107 | 3.23% |
| 7. Canada | 100 | 3.02% |
| 8. Guernsey | 61 | 1.84% |
| 9. Germany | 56 | 1.69% |
| 10. New Zealand | 55 | 1.66% |
| Top 10 Total: | 2961 | 89.35% |
| Rest of QROPS centres: | 353 | 10.65% |
| Total: | 3314 | 100% |
In the second tier, Franc e and India both added a scheme, while Belgium saw one suspended. This saw Belgium and Portugal swap 16th and 17th placings.
The second tier comprised 275 QROPS and just over 8% of the market by number of pensions.
| QROPS - Jurisdiction Tracker 11-20 - February 17, 2014 | ||
|---|---|---|
| QROPS jurisdiction | No of QROPS | Market share by number of QROPS |
| 11. Italy | 47 | 1.42% |
| 12. France | 41 | 1.24% |
| 13. Gibraltar | 33 | 1.00% |
| 14. South Africa | 31 | 0.94% |
| 15. India | 27 | 0.81% |
| 16. Belgium | 23 | 0.69% |
| 17. Portugal | 23 | 0.69% |
| 18. Malta | 19 | 0.57% |
| 19. Spain | 16 | 0.48% |
| 20. USA | 15 | 0.45% |
| Total | 275 | 8.30% |
In the bottom tier, Liechtenstein jumped a couple of places as the only financial centre to add a QROPS. No QROPS were suspended.
The third tier has 77 QROPS and just over 2% of the market by number of QROPS.
The next HMRC QROPS List is due for release on February 15, 2014.
| QROPS - Jurisdiction Tracker 21-42 - February 17, 2014 | ||
|---|---|---|
| QROPS jurisdiction | No of QROPS | Market share by number of QROPS |
| 21. Austria | 11 | 0.33% |
| 22. Denmark | 8 | 0.24% |
| 23. Luxembourg | 8 | 0.24% |
| 24. Sweden | 8 | 0.24% |
| 25. Norway | 7 | 0.21% |
| 26. Hong Kong | 4 | 0.12% |
| 27. Bulgaria | 3 | 0.09% |
| 28. Czech Republic | 3 | 0.09% |
| 29. Finland | 3 | 0.09% |
| 30. Iceland | 3 | 0.09% |
| 31. Liechtenstein | 3 | 0.09% |
| 32. Turkey | 3 | 0.09% |
| 33. Barbados | 2 | 0.06% |
| 34. Jamaica | 2 | 0.06% |
| 35. Mauritius | 2 | 0.06% |
| 36. Trinidad & Tobago | 2 | 0.06% |
| 37. European Union | 1 | 0.03% |
| 38. Greece | 1 | 0.03% |
| 39. Hungary | 1 | 0.03% |
| 40. Latvia | 1 | 0.03% |
| 41. Russian Federation | 1 | 0.03% |
| 42. Sri Lanka | 1 | 0.03% |
| Total | 78 | 2.35% |
| Source: HMRC | ||
