Since Qualifying Recognised Overseas Pension Schemes (QROPS) was launched in April 2006 by Her Majestys Revenue and Customs (HMRC) as a part of new legislation with the objective of simplifying pensions, there has been so much written about QROPS.  We have decided to attach some QROPS facts and figures relating to the regulation of these offshore pensions.

• According to the HMRC figures, in 2014 an average 10,000 funds are transferred out of British funds to a QROPS every year.
• Nearly £3 billion has been switched to the overseas pensions since QROPS were introduced in 2006.
• QROPS have developed into a global pension plan with 42 financial jurisdictions offering more than 3,364 schemes recognised by HMRC.
• There are over 4.5 million expats all over the world. Australia, Spain and the USA are the top three most popular destinations for British expats.
• Of these expats, roughly 45% have a UK pension.
• In September 2014, the Office of National Statistics reported that 137,000 British residents had emigrated the UK.  This figure had remained the same level since 2010.  Each year the market for QROPS is increasing.
• Although the HMRC does not issue QROPS facts and/or figures on the amount of money transferred by expats or international workers from UK pensions to QROPS, the latest indication on the number of individual transfers to QROPS is that around 10,000 every year.

QROPS Facts Advice

If you would like information about QROPS facts and figures, call us on +34 698 243 745 or Contact Us Today

GC QROPS has been successfully assisting UK expats in Spain with UK pension transfers for 9 years since 2006.

We are completely independent, and can advise on a wide variety of ROPS pension schemes – we are not tied to any single provider, which means that we will recommend the scheme which meets your exact requirements and needs.