Check the recognized overseas pension schemes notification list
The following schemes in the Indian QROPS List 16th August 2024 have conveyed to HMRC that they meet the conditions to be a recognised overseas pension scheme (ROPS).
Indian QROPS List 16th August 2024
| ROPS | Country |
|---|---|
| ABSLI Guaranteed Annuity Plus | 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 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 Guaranteed Pension Plan | India |
| Kotak Assured Pension Plan | India |
| Kotak Lifetime Income Plan | India |
| LIC’s Jeevan Akshay — VII | India |
| LIC’s New Jeevan Shanti | India |
| Max Life Forever Young Pension Plan | India |
| Max Life Guaranteed Lifetime Income Plan | India |
| Max Life Smart Guaranteed Pension Plan | India |
| Max Life Smart Wealth Annuity Guaranteed Pension 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 |
Changes made for India on 1 August 2024
| ROPS | Change |
|---|---|
| ABSLI Guaranteed Annuity Plus | Added |
Indians returning from the UK should transfer their pensions to India through QROPS-approved schemes. This helps avoid UK taxes, secure payments in INR, and eliminate currency conversion losses. With India’s growing economy, pension funds can gain better investment opportunities. QROPS also removes UK inheritance tax, ensuring full benefits for heirs. If you’re retiring in India, this transfer offers financial security, tax efficiency, and better control over your savings.