Global Qrops » HMRC QROPS http://www.globalqrops.com Just another WordPress weblog Tue, 31 Jan 2012 11:27:26 +0000 http://wordpress.org/?v=2.8.2 en hourly 1 UK’s HMRC’s Latest QROPS List http://www.globalqrops.com/uk%e2%80%99s-hmrc%e2%80%99s-latest-qrops-list-523.html http://www.globalqrops.com/uk%e2%80%99s-hmrc%e2%80%99s-latest-qrops-list-523.html#comments Wed, 22 Sep 2010 09:31:43 +0000 admin http://www.globalqrops.com/?p=523 UK’s HMRC’s Latest QROPS List is a post from: Global Qrops

]]> 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

UK’s HMRC’s Latest QROPS List is a post from: Global Qrops

]]> http://www.globalqrops.com/uk%e2%80%99s-hmrc%e2%80%99s-latest-qrops-list-523.html/feed 0 Latest HMRC QROPS list http://www.globalqrops.com/latest-hmrc-qrops-list-453.html http://www.globalqrops.com/latest-hmrc-qrops-list-453.html#comments Tue, 26 Jan 2010 12:32:08 +0000 admin http://www.globalqrops.com/?p=453 Latest HMRC QROPS list is a post from: Global Qrops

]]> On 15th December 2009, the UK’s Her Majesty’s Revenue and Customs (HMRC) updated on their website the latest updated list of QROPS (Qualifying Recognized Overseas Pension Schemes). The update is published by the PSS (Pension Scheme Services).
As with previous updates of the QROPS list, this is not a definitive list. In other words, there are QROPS schemes that have been approved by HMRC that have chosen not to appear on the list.
More importantly for those individuals looking for QROPS advice, they should not look at that list and assume that it is a recommendation by HMRC to use any of the QROPS stated. HMRC have emphasized that the publication of the list is for information purposes only and that they are not responsible for any overseas pension transfer from a UK scheme to an overseas scheme based on the clients choice of the scheme coming from the list.
As mentioned in previous news updates by Global QROPS Ltd, there are a number of schemes that feature on the list, as QROPS, but are actually unable to receive transfers in because their local rules do not allow this. An example for this is the USA – IRAs (individual retirement arrangements) and 401K’s are not permitted to take UK pension transfers in under USA legislation – despite appearing on the QROPS list.
It is also worth noting, that there are schemes that have been approved by HMRC but may have obtained their approval with incorrect information.
Please find link to HMRC latest news page. Latest QROPS list under 15th December: http://www.hmrc.gov.uk/NEWS/INDEX.HTM

Latest HMRC QROPS list is a post from: Global Qrops

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