Check the recognized overseas pension schemes notification list
The following schemes in the QROPS List India November 2024 have conveyed to HMRC that they meet the conditions to be a recognised overseas pension scheme (ROPS).
QROPS List India November 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 |
| PNB MetLife Immediate Annuity Plan | 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 November 2024
| ROPS | Change |
|---|---|
| PNB MetLife Immediate Annuity Plan | Added |
| SBI Life — Smart Annuity Plus | Removed |
NRIs who have returned or are returning to India should transfer their UK pensions through QROPS to benefit from tax efficiency, currency stability, and higher returns. An HMRC-approved QROPS transfer allows greater investment control, avoids UK inheritance tax, and ensures steady retirement income. With India’s growing economy and flexible pension schemes, transferring now secures financial stability and better long-term growth for retirees.