[UK] The ROPS List 1st of May 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 1^st of May 2020 update adds 10 schemes as follows:

1. Australia – Briggs Family Retirement Fund
2. Australia – Hillis Super Fund
3. Australia – Hobbs Family Superannuation Fund
4. Australia – McCamley Super Fund
5. Australia – Raws Creative Superannuation Fund
6. Australia – Turners Independent Traders
7. Australia – Tyrrell Superannuation Fund
8. Ireland – APT Master Trust
9. Isle of Man - Adam James Turton QROPS
10. Jersey - Kapai Limited

The following schemes are deleted form, the list:

1. Australia – Walking Dog Investments SMSF
2. Malta - STM Harbour Retirement Scheme SICAV P.L.C

There are no changes.

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 1^st of May 2020 update adds 10 schemes as follows:

1. Australia – Briggs Family Retirement Fund
2. Australia – Hillis Super Fund
3. Australia – Hobbs Family Superannuation Fund
4. Australia – McCamley Super Fund
5. Australia – Raws Creative Superannuation Fund
6. Australia – Turners Independent Traders
7. Australia – Tyrrell Superannuation Fund
8. Ireland – APT Master Trust
9. Isle of Man - Adam James Turton QROPS
10. Jersey - Kapai Limited

The following schemes are deleted form, the list:

1. Australia – Walking Dog Investments SMSF
2. Malta - STM Harbour Retirement Scheme SICAV P.L.C

There are no changes.

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.