To qualify as a QROPS the scheme must fit these conditions:

• The scheme must be established in a country or territory outside the UK, which has a double taxation agreement in place with the
• The scheme must be recognised for tax purposes and be regulated by the relevant authorities of the country in which it is established, or be established by certain international organisations for their
• The QROPS scheme manager must confirm that any pension funds transferred from the UK which have received UK tax relief will provide retirement benefits similar to those that would have been available from a UK registered pension
• A QROPS scheme manager must notify HMRC that their scheme meets the prescribed QROPS If HMRC agree they will acknowledge the scheme’s QROPS status and allocate a unique QROPS reference number.
• A transfer of a member’s benefit rights in a registered pension scheme to a QROPS is a recognised transfer. This means that the transfer is an authorised payment and does not give rise to any unauthorised payment
• The member will need to meet the eligibility criteria specified by their QROPS; this may include restrictions imposed by the tax or regulatory authorities of the country in which the scheme is
• A QROPS or its members must provide information where a member flexibly accesses their pension A QROPS must also provide specified information to the member and to a QROPS in relation to specified payments to or in respect of the member from the scheme.