The Recognised Overseas Pension Schemes (ROPS) 03 February 2025

When HMRC publish updates on 03 February 2025 saying their ROPS List has been updated, I did not expect for them to include updates that should have been included on the List published two weeks earlier.? I am, therefore, amending this post so that it agrees with HMRC’s publication.

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 03 February 2025, HMRC’s update notification says there have been 30 schemes added, 30 removed and 3 amendments.? There are only 10 removals for 03 February 2025 but there are 20 dated 15 January 2025:

• Australia – 27 additions and 6 removals
• India – 2 additions, 3 removals and 3 amendments
• Isle of Man – 20 removals
• Netherlands – 1 addition and 1 removal

So, here is my analysis of the details provided within the List but overwritten 2 weeks later.? The updated List of 03 February 2025 contains the following changes from the ROPS List published 15 January 2025.? Note that India is listed with removals before and after Ireland in the List:

1. Australia - AA Cornish Family Super Fund
2. Australia - Cajal Superfund
3. Australia - Cave Last Resort Super Fund
4. Australia - Clarke-Burns Super Fund
5. Australia - Coops SMSF
6. Australia - D and T Rowley Super Fund
7. Australia - DJ & M Lockett Superannuation Fund
8. Australia - Fairway Fund
9. Australia - G & L Hatfield Superfund
10. Australia - G&R Jepson Super???? ?????????????
11. Australia - Gillian A McGrath Superfund ?????????????
12. Australia - Howe ROPS Fund?????? ?????????????
13. Australia - Lynch Superannuation Fund? ?????????????
14. Australia - M&C Martin Super Fund???????? ?????????????
15. Australia - Meens Super Fund???? ?????????????
16. Australia - Philip & Karen Cornell Self-Managed Super Fund???????? ?????????????
17. Australia - Roaming Kings Superannuation Fund ?????????????
18. Australia - Rushin Retirement SMSF???????? ?????????????
19. Australia - T & J Burke Super?????? ?????????????
20. Australia - The ICI Belasis Avenue SMSF? ?????????????
21. Australia - The Manor House Fund?????????? ?????????????
22. Australia - The Trustee for Cant Lie Super Fund?? ?????????????
23. Australia - The Trust for Fullbrook Superannuation Fund ?????????????
24. Australia - The Trustee for Kal Stanfield Superannuation Fund???? ?????????????
25. Australia - Thomson Watt Superannuation Fund ?????????????
26. Australia - Wallesch ROPS fund? ?????????????
27. Australia - Ward Tune Superannuation Fund?????? ?????????????
28. India - ICICI Pru Gold Pension Savings
29. India - ICICI Pru Signature Pension
30. Netherlands - PME Pensioenfonds

1. India - Axis Max Life Guaranteed Lifetime Income Plan (previously Max Life Guaranteed Lifetime Income Plan)
2. India - Axis Max Life Smart Guaranteed Pension Plan (previously Max Life Smart Guaranteed Pension Plan)
3. India - Axis Max Life Smart Wealth Annuity Guaranteed Pension Plan (previously Max Life Smart Wealth Annuity Guaranteed Pension Plan)

1. Australia - Dean Gale Super Fund
2. Australia - Johnston Family Super Fund?
3. Australia - Oglesby Newton Super Fund?
4. Australia - PB 55 Super Fund??????
5. Australia - S & D Watts Self Managed Superannaution Fund (sic)
6. Australia - Whyte Frythe Fund???
7. India - Max Life Forever Young Pension Plan
8. India - Railway Procurement Agency Pension & Life Assurance Plan 2003
9. India - Stripes Support Services No 2 EPS
10. Netherlands - St. Anna Advies B.V. by Brand New Day

Plus, add these from Isle of Man that are dated 15 January 2025:?

1. Anthony Markham Pension Scheme
2. Blue Roan Personal Pension Scheme
3. Boon Personal Pension Scheme
4. Chigwell Personal Pension Scheme
5. Cluny Personal Pension Scheme
6. Crawford A Personal Pension Scheme
7. Devonshire SIPP
8. Edgewater Solutions SIPP
9. Grundy F Personal Pension Scheme
10. Henson Personal Pension Scheme
11. Maddrell Personal Pension Scheme
12. Mooney Personal Pension Scheme
13. P White No 1 Personal Pension Scheme
14. Paul Moore Personal Pension Scheme
15. Red Hair And Blue Eyes
16. RMD Personal Pension Scheme
17. Rosser Personal Pension Scheme
18. W M Personal Pension Scheme
19. Watts Personal Pension Scheme
20. Walsh Y 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.? For example, on 03 February 2025 the update says that 30 schemes were removed but only 10 were detailed.? I didn’t spot that 20 from Isle of Man were listed as removals on 15 January 2025!?