The list of Recognised Overseas Pension Schemes notifications will be temporarily suspended from tomorrow, HMRC has said.

The tax watchdog has published an update on ROPS in its regular newsletter, which has come out this week.

Meanwhile, a pensions firm has claimed the overseas pension market is in ‘disarray’ and called for HMRC and the Government to “end the uncertainty around QROPS”.

On the temporary suspension of the list of ROPS notifications, HMRC’s publication stated: “From 17 June 2015 the list of ROPS notifications will be temporarily suspended for a short period to allow the list to be reformatted. The ROPS notifications list will be available again from 1 July 2015. Please note that the reformatted list will look significantly different.”

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It said that it has reviewed the published List of Recognised Overseas Pension Schemes Notifications following feedback from stakeholders.

Officials said: “The published list is not a list of Qualifying Recognised Overseas Pension Schemes (QROPS) - it is, and always has been, a list of the overseas entities that have:

• notified HMRC they are a Recognised Overseas Pension Scheme (ROPS)
• made certain commitments with regard to reporting matters to HMRC
• been issued with a reference number from HMRC
• requested publication on HMRC’s website

“This list is made available to reduce the administrative burdens on the overseas entity, UK registered pension schemes and members considering transferring their UK tax relieved pension savings to an overseas entity.”

HMRC also said that ROPS forms for overseas firms to confirm compliance rules with the UK have been updated, following the pension flexibility changes which took effect from 6 April.

James McLeod, head of pensions at AES International, has criticised what he called the ‘uncertainty’ around overseas schemes since the reforms were implemented.

He is calling for the government to bring them into line with UK schemes.

Mr McLeod said: "It is now more than two months since the new pension freedom laws were introduced in the UK and yet the overseas pension market remains in disarray.

“Despite committing in December last year to extend pension freedoms to overseas schemes, this has simply not happened.

"In fact, all that has happened so far is the universal application of the "age 55 rule" which has caused confusion and uncertainty as schemes in Australia, Ireland and New Zealand have become ineligible. In turn, this has even left some clients at risk of being hit with substantial unauthorised transfer charges.

"We believe it is high time the government and HMRC acted to end the uncertainty around QROPS and extended the pension freedoms to those who have, quite legitimately, decided to move their pensions with them overseas."