When the government prints a warning of wealth in the list of QROPS providers open to transfers of pension schemes in the UK, then it is a message be ignored at your own risk.

Each month, HM Revenue and Customs updates the list of QROPS worldwide (qualifying recognized overseas pension scheme) suppliers and adds some drivers that are designed to make people open a Qrop system sit up and pay attention.

The list is Available for download in Adobe Acrobat PDF format on the HMRC website.

The list includes about 1,500 QROPS schemes worldwide.

This is what the warning is telling you as an investor:

• Providers are in the consent regime, so each provider is on the list. This raises the question of how to tell if a system is not a scam if the details are not on the list. It is because fund managers of their pension current regime. They are not allowed to transfer one penny to any scheme is not a QROPS approved. If the regime wants to join is not on the list, then with their existing pension provider, receives a letter from the fund manager QROPS scheme being transferred to give permission for HMRC to confirm the supplier HMRC has said that your system meets all the provisions QROPS. For transfers from multiple systems, each current fund manager has to do this. If you transfer your money without confirmation and the scheme is a QROPS, then the transfer of funds manager is in breach of the QROPS rules and can lead to sanctions against your company and a penalty allowed the withdrawal charge against him.
• None of the providers on the list are approved or recommended in any way by HMRC HMRC regulates QROPS schemes but do not give advice, suggestions or advice on investments. QROPS are 'buyer beware' products. Investors and their advisers it is expected that all appropriate inquiries due diligence before committing to any contract. HMRC notify providers that their systems meet all the requirements of a HMRC QROPS system, but does not check the notification. Pay attention to any financial advisor or vendor selling 'HMRC approved schemes, because there is no such thing. The transfer may also lead to a charge under the sanction of the scheme and a surcharge payments not authorized under the State. Therefore, you should look for rel = "Nofollow" href = "http://www.qropsadviser.com/"> QROPS advice from an independent financial adviser regulated by the UK experience in pensions from the coast. The counselor should also have no 'ties' or affiliations with a limited number of companies QROPS – The best advice comes from a consultant who can shop around the "whole market" for a system tailored to suit your needs.
• What is an extra unauthorized payments? A payment is authorized when the money is paid from a pension plan in a way that breaks the rules. Examples include the payment of money in order to take into account not is a QROPS scheme, paying more than the permitted tax-free lump sum payment of benefits or a member of the pension scheme before they reach the age retirement. An unauthorized withdrawal charge may also apply if the money is transferred to a QROPS scheme is not transferred to a QROPS. The potential penalty is 40% tax on the unauthorized removal, plus 15% penalty fee.

• If a QROPS list is issued twice in a month, then check carefully to see if the name of your provider is still there. HMRC says that the list is published once a month, generally around the end of the month, but a revised list may be released during the month if there are any changes. As the list is only a disclaimer plus scheme details, the likelihood is any change means a provider has been added or taken off the list. Additions are OK – but any removals need checking out if you have a QROPS with that provider or are considering a transfer to them.

Fire – Kasabian; Nifer’s Long Beach Vacation ~ August 2009