Check the recognized overseas pension schemes notification list
The following schemes in the Indian QROPS List 16th October 2024 have conveyed to HMRC that they meet the conditions to be a recognised overseas pension scheme (ROPS).
Indian QROPS List 16th October 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 |
Transferring your UK pension to India through an HMRC-approved QROPS scheme is a smart financial move for NRIs who have returned or are returning back home to India. It not only eliminates UK inheritance tax, but also offers better investment options, and protects against currency fluctuations. India’s growing economy provides higher returns and greater flexibility compared to UK pensions. With tax advantages and the ability to control your pension locally, a QROPS transfer ensures long-term financial security for retirement.