The (BIG) Recognised Overseas Pension Schemes (ROPS) 02 June 2025

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!

The October 2025 UK Budget announced an alignment in HMRC’s treatment of transfers to Overseas Pension Schemes (OPS) and Recognised Overseas Pension Schemes (ROPS) where they are established in the European Economic Area (EEA). 

The ROPS update history on 06 April 2025 with the following information for scheme managers:

This meant that scheme managers had to check that the scheme met the new requirements.  HMRC’s Pension Schemes Newsletter 167 detailed how HMRC wrote to scheme managers in April 2025 to ensure the EEA-established OPS and ROPS must be in line with the conditions that apply to schemes established in the rest of the world. 

Pension Schemes Newsletter 168 advised that if they did not receive a response by 07 May 2025, the scheme will cease to be a QROPS and will be removed from the list due for publication on 15 May 2025.  HOWEVER, on 15 May 2025, HMRC advised in their update section that the date was delayed to 02 June 2025 for the following countries: 

• Austria (see deletion below);

• Belgium;

• Bulgaria;

• Germany (see deletion below);

• Ireland (see deletions below);

• Latvia;

• Luxembourg;

• Malta;

• Netherlands (see deletions below);

• Slovakia;

• Spain; and

• Sweden

On 02 June 2025, HMRC’s update notification says there have been 47 schemes added and 41 removed.  However, the list shows 48 additions as 1 has been left in the list from the update on 15 May 2025: 

• Australia – 44 additions (actually 43, as 1 was added on 15 May 2025) and 3 removals

• Austria – 1 removal

• Bulgaria – 1 addition

• Germany – 1 removal

• Gibraltar – 2 removals

• India – 1 addition

• Ireland – 15 removals

• Isle of Man – 1 addition and 1 removal

• Jersey – 1 addition

• Netherlands – 18 deletions

So, here is my analysis of the details provided within the List but overwritten 2 weeks later.  The updated List of 02 June 2025 contains the following changes from the ROPS List published 15 May 2025.

1. Australia - Ajax Super Fund

2. Australia - Balcony Super (was part of the update on 15 May 2025)  

3. Australia - Bargmann Family Super Fund

4. Australia - Belharra Super

5. Australia - Brock McGregor ROPS Fund         

6. Australia - C & R Pont Superfund

7. Australia - CaplanBeet SMSF

8. Australia - Charles Daly SMSF            

9. Australia - CHEONGM Super Fund    

10. Australia - Christy Family Superfund

11. Australia - Chulak Super       

12. Australia - Corley Super       

13. Australia - Dhanji Family SMSF          

14. Australia - Family Thain Super          

15. Australia - Gin and Tonic Sunset Fund           

16. Australia - Hawley Family SMSF        

17. Australia - Henderson Ross Superannuation Fund     

18. Australia - Hird Family Super Fund   

19. Australia - HOSU Superannuation Fund        

20. Australia - Iain and Julie Crawford Superannuation Fund       

21. Australia - Jaggy Thistle Super Fund

22. Australia - Jeffs Ball SMSF    

23. Australia - J McDonald QROPS 2       

24. Australia - JMN Abundance Super Fund        

25. Australia - JP Morrissey Super Fund 

26. Australia - KSB SMSF             

27. Australia - LC UK Superannuation Fund         

28. Australia - Linda Venables SMSF       

29. Australia - Mark Fisher Pension        

30. Australia - McGoldrick Family Super Fund    

31. Australia - Michele O’Neill Retirement Fund

32. Australia - Millertime Superfund      

33. Australia - My Options Dolphin SMSF Super 

34. Australia - O’Dowd SMSF     

35. Australia - Papaleo ROPS Fund         

36. Australia - PL & MI Marks Superannuation Fund       

37. Australia - Potter Leonard ROPS Fund           

38. Australia - Proudfoot ROPS Fund      

39. Australia - Quaden Superannuation Fund     

40. Australia - S & N Hall Super 

41. Australia - The Durling SMSF             

42. Australia - Tidylike Self-Managed Super Fund            

43. Australia - Tidy Sum Super Fund       

44. Australia - Woodhouse ROPS Fund  

45. Bulgaria - Voluntary Pension Fund “CCB - SILA”

46. India - Kotak Confident Retirement Savings Plan

47. Isle of Man - Ballajora Personal Pension Scheme

48. Jersey - Windward Group Pension Scheme

No changes.

1. Australia - AKSU Superannuation Fund

2. Australia - Dunmore Superfund

3. Australia - Miller Superannuation Fund 

4. Austria - Bonus Pensionskassen Aktiengesellschaft

5. Germany - Versorgungswerk Der Architekenkammer Sachsen

6. Gibraltar - Apollo QROPS

7. Gibraltar - Pantheon QROPS

8. Ireland - Andrew Robertson Low Pension Trust

9. Ireland - APT Master Trust

10. Ireland - Bank of America Ireland Pension Scheme

11. Ireland - Bank of Ireland Staff Pension Fund

12. Ireland - Davy Personal Retirement Bond

13. Ireland - Emma Love Executive Pension Portfolio

14. Ireland - Graham O’Neill Executive Pension Portfolio

15. Ireland - Jeremiah Cleary Pension Trust

16. Ireland - John O’Reilly Pension Trust

17. Ireland - Kevin Gallagher SSAP

18. Ireland - Kevin Mitchell Executive Pension Portfolio

19. Ireland - LEC Ireland Employment Ltd Pension Scheme

20. Ireland - Maples & Calder Defined Contribution Pension Scheme

21. Ireland - Michael Conway Pension Trust

22. Ireland - Quest Self Invested Personal Retirement Bond

23. Isle of Man - Shields D Personal Pension Scheme

24. Netherlands - ABN AMRO Pension Plan 2006

25. Netherlands - Acerta Pharma B.V. by ASR Premiepensioeninstelling N.V.

26. Netherlands - Adder Technology Ltd

27. Netherlands - Allianz Direct Ingaand Zeker Pensioen

28. Netherlands - Anomaly BV by Brand New Day

29. Netherlands - Bitvavo B.V.

30. Netherlands - Dimensional Insight Netherlands by Brand New Day

31. Netherlands - DyDL OpCo C.V.

32. Netherlands - Gorillas Technologies Netherlands B.V.

33. Netherlands - MrWork B.V.

34. Netherlands - Partners for Innovation B.V. Brand New Day

35. Netherlands - Pension Regulations Pensioenfonds DSM Nederland

36. Netherlands - Rabobank Pensioenfonds

37. Netherlands - Rodeo Software BV by Brand New Day

38. Netherlands - Schouten Europe B.V.

39. Netherlands - Serviceplan Netherlands B.V.

40. Netherlands - SolarClarity BV by Brand New Day

41. Netherlands - Spotify Netherlands B.V. by ASR Premiepensioeninstelling N.V.

Importantly, scheme managers of Overseas Pension Schemes (OPS) and Recognised Overseas Pension Schemes (ROPS) established in the European Economic Area (EEA) needed to pay attention to communication from HMRC and the Pension Schemes Newsletters 167 and 168. EEA-established OPS and ROPS cease to be qualifying and appear on the List, removals on 02 June 2025.

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.