Changes to rules for overseas pensions and scheme administrators

This measure is about changes to transfers to Qualifying Recognised Overseas Pension Schemes established in the European Economic Area (EEA) and Gibraltar, requirements that overseas pension schemes and recognised overseas pension schemes in the EEA to have a regulator, and the conditions for registered pension schemes administrators.

This measure:

• removes the exclusion from the overseas transfer charge of transfers to Qualifying Recognised Overseas Pension Schemes established in the European Economic Area and Gibraltar

• makes changes to the regulatory requirements for overseas pension schemes and Recognised Overseas Pension Schemes

• changes the requirements for registered scheme administrators, so that all registered schemes must have an administrator that is UK resident.