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Gibraltar Flexes QROPS Financial Muscle

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The tiny financial centre of Gibraltar has been flexing its Qualifying Recognised Overseas Pension Scheme (QROPS) muscles.

The British Overseas Territory rates as equal fourth with The Netherlands for the jurisdiction opening most QROPS pensions in the past 12 months.

Both have opened 12 pensions – eight more than Switzerland, New Zealand and Jersey with four in fifth place.

The top rankings go to Australia, opening 300 QROPS in the past year, then Ireland with 36 and Guernsey with 29.

QROPS Top 10s

Gibraltar, together with Malta, leads the race to give retirement savers flexible to their QROPS fund.

Gibraltar has 45 QROPS pensions and is just outside the top 10 jurisdictions with a 1% share of the market by number of QROPS.

Malta has 22 QROPS and a 0.6% market share by number of pensions.

Although other jurisdictions have far more pensions, Gibraltar and Malta have commercial providers rather than corporate or individual schemes.

HM Revenue & Customs (HMRC) is due to publish the next QROPS List on February 15, 2015.

Here are the latest top 10 QROPS tables from the February 1 list:

Gibraltar Flexes QROPS Financial Muscle

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