The Recognised Overseas Pension Schemes (ROPS) 16 September 2024

The Recognised Overseas Pension Schemes (ROPS) 16 September 2024

The List is a must-read for all UK payroll and pensions professionals, updated twice monthly on the 1st and the 15th of the month, though this may change if those dates fall on a weekend or Bank Holiday. 

Sometimes, however, HMRC will update the List at other times ‘to temporarily remove schemes while reviews are carried out, for example where fraudulent activity is suspected’. 

The ROPS List contains details of all overseas pension schemes that have advised HMRC they want to be included on it.  ‘Recognise’ indicates that HMRC recognise the overseas pension scheme as being one that is eligible to receive transfers of UK pension benefits.  However, it does not mean that they are approved by HMRC or automatically qualify as a ‘qualifying scheme’ (a Qualifying Recognised Overseas Pension Schemes (QROPS)).  

But the scheme must be a ROPS before it can tell HMRC that it is a QROPS!  

On 16 September 2024, the update notification says there have been 19 schemes added and 1 removed: 

  • Australia – 16 additions
  • Hong Kong – 1 addition
  • Isle of Man – 1 addition and 1 removal
  • Jersey – 1 addition

So, here is my analysis of the details provided within the List but overwritten 2 weeks later.  The updated List of 16 September 2024 contains the following changes from the ROPS List published 02 September 2024:

  1. Australia - A.J. Weekes Superannuation Fund                   
  2. Australia - Bull Ring Retirement Fund                                 
  3. Australia - D Ryder Superfund                               
  4. Australia - Dean Superannuation Fund                              
  5. Australia - JTT SA Fund                              
  6. Australia - MacCookie Superannuation Fund                                  
  7. Australia - Mary Bryce Superannuation Fund                                  
  8. Australia - Mitchell ROPS Fund                              
  9. Australia - Neil & Chandrika Parry Super Fund                                
  10. Australia - P&D Umoji Fund                                    
  11. Australia - Paumar Saibhreas Super                                    
  12. Australia - Sheard ROPS Fund                                
  13. Australia - SWT Superannuation Fund                                
  14. Australia - Warrent Retirement Fund                                 
  15. Australia - Whitelaw Superannuation Fund                                     
  16. Australia - Zardoz Super Fund                                
  17. Hong Kong - Cranborne Retirement Scheme
  18. Isle of Man - BM & HM SIPP
  19. Jersey - Plouton Pension Limited

No amendments.

  1. Isle of Man - Barnes Personal Pension Scheme

As above, just because it meets the criteria to be recognised by HMRC (ROPS) does not mean that the scheme is qualifying (a QROPS).  

Where the List is used, please ensure you look at every update, as HMRC’s current team of civil servants in charge of updating the ROPS list have refused to change the way that they work.  Whilst details are contained within the list, these are overwritten the next time the list is updated.  

So, in the absence of the details, professionals must constantly monitor the list every time it comes out for fear that they will miss important information. 

Also, do check the details carefully to see if the update details match reality, as sometimes they do not. 



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