Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Overseas pension scheme definition

What does Overseas pension scheme mean? In UK pensions and tax practice, an overseas pension scheme is a pension arrangement set up outside the UK that is not registered with HMRC. The concept matters for pension transfers, UK tax on payments from non‑UK schemes, and HMRC reporting. It is a defined term in the Finance Act 2004 and in the Pension Schemes (Categories of Country and requirements for Overseas Pension Schemes and Recognised Overseas Pension Schemes) Regulations 2006 (SI 2006/206). A scheme is an overseas pension scheme if it is established in a country or territory outside the UK and satisfies the regulatory and...

UK pensions tax rules for overseas schemes (OPS, ROPS, QROPS, QNUPS): eligibility criteria, interrelationships, transfers and inheritance tax

Published by a LexisNexis Pensions expert

Practice notes

FORTHCOMING DEVELOPMENT :

Section 10 of the Finance Act 2022 will raise the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028, with an exception for members of the firefighters, police and armed forces public service pension schemes. The Act will also permit members of registered pension schemes to access benefits before 57 where, on or before 4 November 2021, they either possessed an ‘unqualified right’ to take benefits, or were engaged in a substantive transfer to a scheme that, on or before that date, offered an unqualified right to a protected pension age below 57.

To make use of this 2028 protection, the scheme’s rules must have contained, as at 11 February 2021, an unqualified right to take entitlement to scheme benefits before age 57. For further details, see Practice Note: Increasing the normal minimum pension age (NMPA) to 57—pensions impact.

There are distinct categories of overseas pension schemes, each with different tiers of Requirements. These include:

Overseas Pension Schemes (OPS)
Recognised Overseas Pension Schemes (ROPS)
Qualifying Recognised Overseas Pension Schemes (QROPS)
Qualifying Non-UK Pension Schemes (QNUPS)

The Pension...

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Alistair Hill

Brodies LLP

Alistair is a Legal Director in the Brodies pensions team, where he practices both as an English and as a Scottish solicitor. He helps a broad range of employers, trustees and other professionals with defined benefit and defined contribution pension schemes, including advising on the pensions aspects of corporate transactions and public/private sector staff transfers. From his days in-house at a leading insurer, Alistair has also retained an active interest in developing and maintaining defined contribution pension propositions from the provider's and administrator's viewpoint, such as personal pension, mastertrust and SIPP products. While he would argue passionately that clients shouldn't haven't to worry about them unless they want to, Alistair has always been interested in the more technical aspects of pensions law. Besides his work for LexisPSL, this has led him to play an active role in the professional bodies and more generally in debating law reform and...

Alexandra Bradley

CMS Cameron McKenna Nabarro Olswang LLP

From a broader based background in general practice, Alexandra has specialised in UK pensions law since early 2018 and regularly advises a broad range of clients including employers, trustees, local authorities, statutory bodies, private equity funds, wealth managers, SIPP/SSAS operators and platform providers. She has experience of advising on a wide range of pension matters in relation to both contentious and non-contentious matters including drafting trust documentation, compliance issues, winding up both DB and DC pension schemes and the pension aspects of corporate transactions....

Web page updated on 22/05/2026

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