UK's HMRC's Latest QROPS List

Posted by Paul Davies on 22/09/10 14:55

The latest QROPS list, published by Her Majesty’s Revenue and Customs (HMRC) Pension Scheme Services (PSS), was published on 3rd September 2010.

As with all previous updates with the QROPS list, this is not a completely definitive list. There may be several QROPS (Qualifying Recognized Overseas Pension Schemes) available that have chosen not to be on the list.

More important to note, however, is the fact that there may be QROPS on the list that are about to lose their approval or have, prior to the list being published, lost their approval already.

At the time that this appears in Global QROPS Ltd’s latest news items, Global QROPS Ltd are aware that there is a scheme in Hong Kong that appears on HMRC’s QROPS list that has lost it’s approval. HMRC may well amend the list in due course but it is worth reminding those looking to transfer their UK pension overseas, that the QROPS list is not a definitive guide as to what is and is not available and that specialist advice should be sort.

In addition there may be QROPS detailed on the list, that are unable to accept pension transfers in from non-resident members (such as Australian QROPS and Jersey QROPS, for example) and there may be schemes, such as USA QROPS, that have been approved by HMRC as QROPS but do not allow transfers in to their schemes under their own local rules.

For the latest QROPS list, please see the attached link.

http://www.hmrc.gov.uk/pensionschemes/qrops.pdf