List of Qualifying Recognized Overseas Pension Schemes India 15th August 2025

Check the recognized overseas pension schemes notification list:

The following schemes in the QROPS List India have been conveyed to HMRC that they meet the conditions to be a recognised overseas pension scheme (ROPS).

ROPS	Country
ABSLI Guaranteed Annuity Plus	India
Axis Max Life Forever Young Pension Plan	India
Axis Max Life Guaranteed Lifetime Income Plan	India
Axis Max Life Smart Guaranteed Pension Plan	India
Axis Max Life Smart Wealth Annuity Guaranteed Pension Plan	India
Bajaj Allianz Life Guaranteed Pension Goal	India
Bajaj Allianz Life Saral Pension	India
Canara HSBC Oriental Bank of Commerce Life Insurance Secure Bhavishya Plan	India
HDFC Life Assured Pension Plan	India
HDFC Life Click 2 Retire	India
HDFC Life Guaranteed Pension Plan	India
HDFC Life New Immediate Annuity Plan	India
HDFC Life Pension Guaranteed Plan	India
HDFC Life Sanchay Aajeevan Guaranteed Advantage	India
HDFC Life Smart Pension Plan	India
HDFC Life Smart Pension Plus	India
HDFC Life Systematic Pension Plan	India
ICICI Pru Easy Retirement	India
ICICI Pru Easy Retirement SP	India
ICICI Pru Gold Pension Savings	India
ICICI Pru Guaranteed Pension Plan	India
ICICI Pru Signature Pension	India
Kotak Assured Pension Plan	India
Kotak Confident Retirement Savings Plan	India
Kotak Lifetime Income Plan	India
LIC’s Jeevan Akshay — VII	India
LIC’s New Jeevan Shanti	India
PNB MetLife Immediate Annuity Plan	India
SBI Life – Smart Annuity Plus	India
TATA AIA Fortune Guarantee Retirement Ready	India
Tata AIA Life Insurance Fortune Guarantee Pension	India
Tata AIA Life Insurance Saral Pension	India
Tata AIA Life Insurance Smart Annuity Plan	India

The following schemes in the QROPS List India have been conveyed to HMRC that they meet the conditions to be a recognised overseas pension scheme (ROPS).

UK Government Guide on Overseas Pension Schemes Notification List.

Indians who have lived in the UK and are moving back to India can transfer their pensions through QROPS-approved schemes for better tax efficiency and financial security.

The post List of Qualifying Recognized Overseas Pension Schemes India 15th August 2025 appeared first on QROPS Direct.

from QROPS Direct https://www.qropsdirect.in/blog/2025/08/15/qrops-india-list-15th-august-2025/
https://www.qropsdirect.in/

List of Qualifying Recognized Overseas Pension Schemes India 1st August 2025

Check the recognized overseas pension schemes notification list:

The following schemes in the QROPS List India have conveyed to HMRC that they meet the conditions to be a recognised overseas pension scheme (ROPS).

 

ROPS	Country
ABSLI Guaranteed Annuity Plus	India
Axis Max Life Forever Young Pension Plan	India
Axis Max Life Guaranteed Lifetime Income Plan	India
Axis Max Life Smart Guaranteed Pension Plan	India
Axis Max Life Smart Wealth Annuity Guaranteed Pension Plan	India
Bajaj Allianz Life Guaranteed Pension Goal	India
Bajaj Allianz Life Saral Pension	India
Canara HSBC Oriental Bank of Commerce Life Insurance Secure Bhavishya Plan	India
HDFC Life Assured Pension Plan	India
HDFC Life Click 2 Retire	India
HDFC Life Guaranteed Pension Plan	India
HDFC Life New Immediate Annuity Plan	India
HDFC Life Pension Guaranteed Plan	India
HDFC Life Sanchay Aajeevan Guaranteed Advantage	India
HDFC Life Smart Pension Plan	India
HDFC Life Smart Pension Plus	India
HDFC Life Systematic Pension Plan	India
ICICI Pru Easy Retirement	India
ICICI Pru Easy Retirement SP	India
ICICI Pru Gold Pension Savings	India
ICICI Pru Guaranteed Pension Plan	India
ICICI Pru Signature Pension	India
Kotak Assured Pension Plan	India
Kotak Confident Retirement Savings Plan	India
Kotak Lifetime Income Plan	India
LIC’s Jeevan Akshay — VII	India
LIC’s New Jeevan Shanti	India
PNB MetLife Immediate Annuity Plan	India
SBI Life – Smart Annuity Plus	India
TATA AIA Fortune Guarantee Retirement Ready	India
Tata AIA Life Insurance Fortune Guarantee Pension	India
Tata AIA Life Insurance Saral Pension	India
Tata AIA Life Insurance Smart Annuity Plan	India

The following schemes in the QROPS List India have been conveyed to HMRC that they meet the conditions to be a recognised overseas pension scheme (ROPS).

UK Government Guide on Overseas Pension Schemes Notification List.

Indians who have lived in the UK and are moving back to India can transfer their pensions through QROPS-approved schemes for better tax efficiency and financial security.

The post List of Qualifying Recognized Overseas Pension Schemes India 1st August 2025 appeared first on QROPS Direct.

from QROPS Direct https://www.qropsdirect.in/blog/2025/08/01/list-of-qualifying-recognized-overseas-pension-schemes-india-1st-august-2025/
https://www.qropsdirect.in/

UK Pension Transfers to India: A Growing Opportunity for Expats

For UK pensioners planning to retire in India, transferring their pension through a Qualifying Recognised Overseas Pension Scheme (QROPS) remains a compelling option. While the UK government has imposed restrictions on overseas transfers in recent years, India’s emergence as a preferred retirement destination makes understanding the process more important than ever.

Why Consider a QROPS Transfer to India?

Many British expats and returning Indian nationals choose to transfer their UK pensions to India for three key reasons:

1. Currency Benefits – By moving pensions to India, retirees avoid exchange rate fluctuations that can impact income. With the right timing, transferring at a favourable GBP to INR rate can significantly enhance retirement funds.

2. Tax Efficiency – UK pensions are subject to tax in both the UK and India, depending on residency status. A properly structured QROPS can reduce double taxation and provide greater control over withdrawals.

3. Investment Flexibility – UK pension schemes come with restrictions, but an Indian QROPS offers a wider range of investment choices tailored to local markets and personal risk appetites.

Challenges and Considerations

While the benefits are attractive, certain regulatory aspects need to be considered:

• Overseas Transfer Charge (OTC): The UK imposes a 25% tax on pension transfers to QROPS unless the recipient resides in the same country as the scheme. Since not all Indian schemes are QROPS-approved, pensioners must consult QROPS advisors to ensure compliance and explore options to avoid unnecessary taxation.

• Taxation in India: Pension income may be taxable under Indian law, so it’s crucial to seek professional financial advice before initiating a transfer.

• Scheme Eligibility: Not all Indian schemes are HMRC-approved, making it vital to check the rules before proceeding.

Is It the Right Move for You?

A QROPS transfer to India can provide financial advantages, but every retiree’s situation is unique. Understanding tax obligations, investment opportunities, and legal implications is crucial before making a decision. Consulting a financial expert can ensure a smooth transition while maximizing long-term benefits.

If you’re considering moving your UK pension to India, now is the time to explore your options. With careful planning, you can make the most of your retirement while securing your financial future.

The post UK Pension Transfers to India: A Growing Opportunity for Expats appeared first on QROPS Direct.

from QROPS Direct https://www.qropsdirect.in/blog/2025/07/27/uk-pension-transfers-to-india-a-growing-opportunity-for-expats/
https://www.qropsdirect.in/

Economic Uncertainty in the UK: What It Means for Pension Savers

Image Credit: Wikimedia

The UK economy is facing a period of turbulence, with concerns about potential spending cuts and tax hikes adding to the existing financial pressures. Chancellor Rachel Reeves may have to make difficult decisions to balance the books, raising questions about how pension funds will be affected. With economic uncertainty in the UK growing, pension savers are left wondering whether their retirement funds are secure.

How Economic Uncertainty Affects Pensions

Periods of economic uncertainty in the UK often lead to market fluctuations, impacting investments tied to pension funds. If the government increases taxes or reduces spending, it could have a ripple effect on economic growth, leading to lower returns for pension investments. Additionally, inflation remains a concern, as rising costs can erode the value of retirement savings.

With potential cuts on the horizon, public sector pensions may also face scrutiny. The state pension, already under pressure from demographic shifts, could see further adjustments in response to fiscal constraints. Many pension holders are now considering alternative options to safeguard their retirement income.

The Growing Concern for Private and Workplace Pensions

Private and workplace pensions are also vulnerable during times of economic uncertainty in the UK. Stock market fluctuations can impact pension fund performance, and if companies face financial struggles, their contributions to employee pensions could be reduced. Rising interest rates, meant to curb inflation, may also put pressure on businesses, leading to lower growth and fewer job opportunities—factors that indirectly affect pension stability.

For those approaching retirement, these uncertainties pose significant challenges. The risk of lower annuity rates and unpredictable pension fund performance means retirees must carefully plan their financial future.

Exploring Overseas Pension Transfers

For UK pension savers worried about economic uncertainty in the UK, transferring pensions abroad is an option worth considering. Countries like India offer robust investment opportunities, particularly in high-growth sectors such as technology and defense. Through a Qualifying Recognised Overseas Pension Scheme (QROPS), individuals can take control of their retirement funds while benefiting from tax efficiencies and diversified investment opportunities.

With ongoing fiscal challenges in the UK, securing a stable financial future requires proactive planning. Exploring pension transfers to India through QROPS could provide retirees with greater flexibility and long-term financial security.

The post Economic Uncertainty in the UK: What It Means for Pension Savers appeared first on QROPS Direct.

from QROPS Direct https://www.qropsdirect.in/blog/2025/07/25/economic-uncertainty-in-the-uk-what-it-means-for-pension-savers/
https://www.qropsdirect.in/

List of Qualifying Recognized Overseas Pension Schemes India July 2025

Check the recognized overseas pension schemes notification list:

ROPS	Country
ABSLI Guaranteed Annuity Plus	India
Axis Max Life Guaranteed Lifetime Income Plan	India
Axis Max Life Smart Guaranteed Pension Plan	India
Axis Max Life Smart Wealth Annuity Guaranteed Pension Plan	India
Bajaj Allianz Life Guaranteed Pension Goal	India
Bajaj Allianz Life Saral Pension	India
Canara HSBC Oriental Bank of Commerce Life Insurance Secure Bhavishya Plan	India
HDFC Life Assured Pension Plan	India
HDFC Life Click 2 Retire	India
HDFC Life Guaranteed Pension Plan	India
HDFC Life New Immediate Annuity Plan	India
HDFC Life Pension Guaranteed Plan	India
HDFC Life Sanchay Aajeevan Guaranteed Advantage	India
HDFC Life Smart Pension Plan	India
HDFC Life Smart Pension Plus	India
HDFC Life Systematic Pension Plan	India
ICICI Pru Easy Retirement	India
ICICI Pru Easy Retirement SP	India
ICICI Pru Gold Pension Savings	India
ICICI Pru Guaranteed Pension Plan	India
ICICI Pru Signature Pension	India
Kotak Assured Pension Plan	India
Kotak Confident Retirement Savings Plan	India
Kotak Lifetime Income Plan	India
LIC’s Jeevan Akshay — VII	India
LIC’s New Jeevan Shanti	India
PNB MetLife Immediate Annuity Plan	India
SBI Life – Smart Annuity Plus	India
TATA AIA Fortune Guarantee Retirement Ready	India
Tata AIA Life Insurance Fortune Guarantee Pension	India
Tata AIA Life Insurance Saral Pension	India
Tata AIA Life Insurance Smart Annuity Plan	India

 

The following schemes in the QROPS List India have been conveyed to HMRC that they meet the conditions to be a recognised overseas pension scheme (ROPS).

UK Government Guide on Overseas Pension Schemes Notification List.

Indians who have lived in the UK and are moving back to India should transfer their pensions through QROPS-approved schemes for better tax efficiency and financial security. QROPS transfers help avoid UK  inheritance tax.

The post List of Qualifying Recognized Overseas Pension Schemes India July 2025 appeared first on QROPS Direct.

from QROPS Direct https://www.qropsdirect.in/blog/2025/07/01/list-of-qualifying-recognized-overseas-pension-schemes-india-july-2025/
https://www.qropsdirect.in/

HMRC QROPS Guidance: Step-by-Step UK Pension Transfer to India

HMRC QROPS Guidance: How to Transfer Your UK Pension to India

Introduction

If you’re an NRI returning from the UK, transferring your UK pension to India can be a crucial step toward securing your retirement. To do it right, you must follow HMRC’s QROPS (Qualifying Recognised Overseas Pension Scheme) guidance to avoid taxes and penalties.

This article will explain:

• What is QROPS?
• HMRC’s guidance on QROPS transfers
• Step-by-step pension transfer process from the UK to India

What is QROPS?

QROPS is a pension scheme based outside the UK that meets criteria set by HMRC. It allows individuals to transfer UK pension funds abroad without triggering unauthorised tax charges.

It is especially useful for those who have permanently left the UK and wish to:
• Avoid double taxation
• Manage retirement in their local currency (INR)
• Ensure full legal compliance

 

HMRC QROPS Guidance: What You Need to Know

• The receiving scheme must be officially listed by HMRC as a QROPS.
• You must be a non-UK tax resident, typically for at least 5 full UK tax years, to get full tax benefits.
• The QROPS provider must report all relevant transactions to HMRC for 10 years after the transfer.
• Any violation of these rules may attract up to 55% tax on your transferred funds.

 

Who is Eligible for QROPS Transfer?

QROPS is suitable for:
• Indian nationals returning from the UK permanently
• Those with workplace or personal pensions in the UK
• Individuals seeking retirement flexibility in India

 

Step-by-Step: Transferring Your UK Pension to India

1. Assess Your Eligibility

Confirm that:

• You are no longer a UK tax resident
• Your pension type is eligible (DC schemes, SIPP, etc.)

2. Choose a QROPS-Compliant Provider in India

• Must be listed on HMRC’s official QROPS list
• Work with a QROPS specialist like QROPS Direct

3. Request a CETV from Your UK Pension Provider

• Get your Cash Equivalent Transfer Value
• Ask for the QROPS transfer application forms

4. Fill HMRC Form APSS263

• Required by HMRC before the transfer
• Submitted by your QROPS advisor or provider

5. Trustee-to-Trustee Transfer

• Direct transfer from UK pension trustee to QROPS trustee
• Never through your personal account

6. HMRC Notification

• The receiving provider must inform HMRC within 90 days

7. Deployment in India

• Pension funds are converted to INR
• Invested in Indian annuities, pension plans, or managed portfolios

Compliance Tips

• Ensure your chosen scheme is on the current HMRC QROPS list
• Understand the 10-year HMRC reporting rule
• Be aware of the 5-year UK non-residency rule

Conclusion

Transferring your UK pension to India under HMRC QROPS guidance is a smart and lawful way to take control of your retirement. But it requires expertise and careful planning.

At QROPS Direct, we specialise in helping UK-returning Indians complete their pension transfers seamlessly, with end-to-end support and full HMRC compliance.

Need help with your QROPS transfer?

Visit www.qropsdirect.in or contact us   +919962170707 for expert guidance.

The post HMRC QROPS Guidance: Step-by-Step UK Pension Transfer to India appeared first on QROPS Direct.

from QROPS Direct https://www.qropsdirect.in/blog/2025/06/01/hmrc-qrops-guidance-step-by-step-uk-pension-transfer-to-india/
https://www.qropsdirect.in/

Seamless UK Pension Transfer from Channel Islands to India

Client Name: Mr. Srinivasan (Name changed for privacy)

Fund House: Merrill Lynch Offshore Pension Plan (Channel Islands)

Background:

Mr. Srinivasan had worked for over a decade in the Channel Islands, a jurisdiction close to the UK, where he built his retirement corpus under the Merrill Lynch Offshore Pension Plan. Upon his return to India, he sought to consolidate his pension benefits in India for ease of access, better control, and long-term retirement planning.

Our Role:

Our team at QROPS Direct guided Mr. Srinivasan through the end-to-end process.

 

• Obtained the transfer application forms directly from Merrill Lynch.

• Completed the required documentation, ensuring full compliance with both UK ( Channel Islands )and Indian pension regulations.

• Liaised with the fund house in the Channel Islands for submission, clarifications, and procedural updates.
• Closely followed up with all parties involved to ensure there were no delays or administrative gaps.

 

Outcome:

The pension funds were successfully transferred to India, and a compliant pension policy was issued in Mr. Srinivasan’s name under a registered insurance provider in India. The entire process was completed with transparency, accuracy, and within the expected timeline.

The post Seamless UK Pension Transfer from Channel Islands to India appeared first on QROPS Direct.

from QROPS Direct https://www.qropsdirect.in/blog/2025/05/19/seamless-uk-pension-transfer-from-channel-islands-to-india/
https://www.qropsdirect.in/