[UK] The ROPS List 2nd of January 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 2^nd of January 2020 update adds 7 schemes as follows:

1. Australia – Chauhan55 Super Fund
2. Australia - De Souza Superannuation Fund
3. Australia – Denby Horwell Family SMSF
4. Australia – McConalogue Superannuation Fund
5. Australia – S & D Watts Self Managed Superannuation Fund
6. Canada – Cidel Alternate Retirement Plan (“CARP”)
7. Jersey - Different Corner Limited

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 2^nd of January 2020 update adds 7 schemes as follows:

1. Australia – Chauhan55 Super Fund
2. Australia - De Souza Superannuation Fund
3. Australia – Denby Horwell Family SMSF
4. Australia – McConalogue Superannuation Fund
5. Australia – S & D Watts Self Managed Superannuation Fund
6. Canada – Cidel Alternate Retirement Plan (“CARP”)
7. Jersey - Different Corner Limited

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.