Australian retail pension fund to return to HMRC Rops list

Added 15th August 2016

International pension provider IVCM said an Australian superannuation plan it runs in conjunction with Tidswell Financial Services had received confirmation from HM Revenue & Customs that it will appear on the official Recognised Overseas Pension Schemes (Rops) list shortly.

Australian retail pension fund to return to HMRC Rops list

Paul Evans, chief executive of IVCM which was formerly known as Brooklands Pensions, said the Australian Expatriate Superannuation Fund, a sub-category of Tidswell’s Australian-regulated Tidswell Master Superannuation Plan (TMSP), was the first retail super scheme to get back on the HMRC list since the introduction of the pension age test regulations in April last year.

The TMSP was established in June 1988 while the Australian Expatriate Superannuation Fund was only established recently as a separate category of membership designed specifically to receive Rops transfers when a reaches the age of 55 and to fulfil the ongoing additional requirements for Rops.

Evans, who is also executive director of Australian Expatriate Superannuation Fund, said: “It has been a pleasure to work with Tidswell over the last few months to bring the first Australian retail superannuation scheme back onto the HMRC list.

“Our team in Australia headed up by Dannie Fox (regional managing director) will be working with Tidswell over the coming months to ensure all training and support for the requirements of Rops is provided to the financial planners who will be supporting the fund,” Evans said.

IVCM is the promoter of the Australian Expatriate Superannuation Fund. It’s main business is concentrated on international pension provision and it offers a range of multi-jurisdictional Rops in Gibraltar, New Zealand and the UK.

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Richard Hubbard

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Richard Hubbard is the group editor at Last Word. He is responsible for the editorial content of International Adviser, Portfolio Adviser, Expert Investor and Fund Selector Asia. Richard previously worked for Thomson Reuters and has covered the financial services industry and investment themes from its offices in London, Singapore, Hong Kong and New York. Richard started his career at the Australian Financial Review in Sydney.

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