[UK] The ROPS List 15th of January 2020

[UK] The ROPS List 15th of January 2020
18 Jan 2020

The Recognised Overseas Pension Schemes (ROPS) List contains the overseas pension schemes that have said to HMRC they want to be included on it when it’s updated twice a month.

The 15th of January 2020 update adds 11 schemes as follows:

  1. Australia – 007 Superannuation Fund
  2. Australia - Burgess Super Fund
  3. Australia – Jon Hayward Superannuation Fund
  4. Australia – JS Band Super Fund
  5. Australia – Lee Family Super Fund
  6. Australia - Madgasman Super Fund
  7. Australia - Michael ES Superannuation Fund
  8. Australia - Milburn Super Fund
  9. Australia - Outrospective Super Fund
  10. Australia - Top Hat Superannuation Fund
  11. Isle of Man - CNIW Personal Pension Scheme

There aren’t any changes or deletions.

HMRC gives the following advice to users of the ROPS list:

The requirements to be a ROPS changed from 6 April 2017. You’ll need to check that the scheme you’re transferring to on or after that date meets the new requirements. 

HMRC cannot guarantee these are ROPS or that any transfers to them will be free of UK tax. It’s your responsibility to find out if you have to pay tax on any transfer of pension savings. Find out more about Overseas pension schemes.

The Global Payroll Association strongly recommends looking at the list to check for pension scheme updates appropriate to the country you are transferring funds to and from.

The Recognised Overseas Pension Schemes (ROPS) List contains the overseas pension schemes that have said to HMRC they want to be included on it when it’s updated twice a month.

The 15th of January 2020 update adds 11 schemes as follows:

  1. Australia – 007 Superannuation Fund
  2. Australia - Burgess Super Fund
  3. Australia – Jon Hayward Superannuation Fund
  4. Australia – JS Band Super Fund
  5. Australia – Lee Family Super Fund
  6. Australia - Madgasman Super Fund
  7. Australia - Michael ES Superannuation Fund
  8. Australia - Milburn Super Fund
  9. Australia - Outrospective Super Fund
  10. Australia - Top Hat Superannuation Fund
  11. Isle of Man - CNIW Personal Pension Scheme

There aren’t any changes or deletions.

HMRC gives the following advice to users of the ROPS list:

The requirements to be a ROPS changed from 6 April 2017. You’ll need to check that the scheme you’re transferring to on or after that date meets the new requirements. 

HMRC cannot guarantee these are ROPS or that any transfers to them will be free of UK tax. It’s your responsibility to find out if you have to pay tax on any transfer of pension savings. Find out more about Overseas pension schemes.

The Global Payroll Association strongly recommends looking at the list to check for pension scheme updates appropriate to the country you are transferring funds to and from.

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