Check the recognized overseas pension schemes notification list
The following schemes in the Indian QROPS List 16th September 2024 have conveyed to HMRC that they meet the conditions to be a recognised overseas pension scheme (ROPS).
Indian QROPS List 16th September 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 |
For Indians who have lived and worked in the UK, transferring pensions to India through a QROPS-approved scheme is a smart financial move. It allows you to avoid UK taxes on pension withdrawals, benefit from India’s growing economy, and receive payments in INR, eliminating currency conversion losses. Additionally, QROPS can help you bypass UK inheritance tax, ensuring your pension is fully passed on to your beneficiaries. With flexible investment options and the ability to customize payouts, transferring your pension to India provides long-term financial security. If you’re moving back, securing your retirement with a QROPS transfer is a logical step.
Click here for the previous list.