The Recognised Overseas Pension Schemes (ROPS) 02 December 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 02 December 2024, the update notification says there have been 35 schemes added, 1 amendment and 29 removed:?

• Australia – 18 additions and 6 removals
• Belgium – 1 removal
• Bulgaria – 1 removal
• Gibraltar – 2 additions and 1 removal
• Hong Kong – 1 addition
• India – 1 addition
• Ireland – 4 additions and 14 removals
• Isle of Man – 1 removal
• Jersey – 2 additions
• Malta – 1 removal
• Netherlands – 7 additions, 1 amendment and 4 removals

So, here is my analysis of the details provided within the List but overwritten 2 weeks later.? The updated List of 02 December 2024 contains the following changes from the ROPS List published 15 November 2024:

1. Australia - A and F Thornbury Superannuation Fund
2. Australia - Akerman Mclean Super Fund
3. Australia - Alicharose
4. Australia - AMPSJP Super Fund
5. Australia - Bryant Family Super Fund
6. Australia - Copstone Superannuation Fund
7. Australia - Durose SMSF
8. Australia - JM Super Fund
9. Australia - Malpas Family Super
10. Australia - Mooney Family Superannuation Fund????????????? ?????????????
11. Australia - Nathan Abrahams Super Fund
12. Australia - Plumpton Super Fund
13. Australia - Rosewhite Super fund
14. Australia - Secure Future Fund
15. Australia - The Bowell Family Superannuation Fund
16. Australia - The Trustee for DJP UHP Superfund
17. Australia - The Sar Superannuation Fund
18. Australia - The Weston Fund
19. Gibraltar - Centurion Retirement Annuity Trust Scheme
20. Gibraltar - The Equus Retirement Annuity Trust Scheme
21. Hong Kong - Invisible Thread Retirement Scheme
22. India - SBI Life - Smart Annuity Plus
23. Ireland - An Post Spouses’ and Children’s Contributory Scheme 1990
24. Ireland - Emma Love Executive Pension Portfolio?????????????
25. Ireland - Graham O’Neill Executive Pension Portfolio??????
26. Ireland - Stripes Support Services No. 2 EPS????????
27. Jersey - Caroline Deahl Approved Drawdown Contract
28. Jersey - Christopher Deahl Approved Drawdown Contract
29. Netherlands - ?Brown-Forman Netherlands BV by Brand New Day
30. Netherlands - ?Dimensional Insight Netherlands by Brand New Day
31. Netherlands - ?Euflex B_V_
32. Netherlands - ?Liberty Church Amsterdam
33. Netherlands - ?Partners for Innovation B.V. Brand New Day
34. Netherlands - ?Stichting Pensioenfonds voor de Architectenbureaus
35. Netherlands - ?SystemsAccountants BV

1. Netherlands - DERO Security Products BV by Brand New Day (I am not sure what amendment has been made)

1. Australia - GW & MI Rowlands Superannaution Fund
2. Australia - Harman ROPS Fund
3. Australia - Pahijina Superannuation Fund
4. Australia - Palmer Retirement Fund
5. Australia - SM & AD Edge Super Fund
6. Australia - Whisperer
7. Belgium - Caisse de prevoyance des avocats, des huisiers de justice et autres independants OFP
8. Bulgaria - Voluntary Pension Fund ‘CCB — SILA’
9. Gibraltar - Hercules Retirement Annuity Trust Pension Scheme
10. Ireland - Almondsbury SSAS
11. Ireland - An Bord Pleanala Staff Superannuation Scheme
12. Ireland - Crantock SSAS
13. Ireland - Davy Advisory PRSA
14. Ireland - Davy Select PRSA (Execution only)
15. Ireland - Johanna Fullerton Executive Pension Portfolio
16. Ireland - Kevin Mitchell Executive Pension Portfolio
17. Ireland - NUI Galway Joint Pension Scheme
18. Ireland - NUI Galway Model Scheme
19. Ireland - Roadbridge Limited Retirement Solution Plan
20. Ireland - Simon Coffey Executive Pension Scheme
21. Ireland - Sisk Healthcare European Pension Scheme
22. Ireland - The 2004 Sicon Ltd DC Pension and Death Benefits Sch
23. Ireland - Xtratherm Limited Pension Plan
24. Isle of Man - Webber Personal Pension Scheme
25. Malta - Gemstone Retirement Scheme
26. Netherlands - Pensioenregeling SABIC
27. Netherlands - Stichting Pensioenfonds van de ABN AMRO Bank NV
28. Netherlands - TOPdesk Nederland BV by Brand New Day
29. Netherlands - Wessanen Nederland Holding BV by Zwitserleven (SRLEV N.V)

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.?