October 6, 2016

STM Group launch Gibraltar QROPS with Australian “Foreign Superannuation” status

STM Group plc is pleased to announce the launch of the STM Gibraltar (AUS) Superannuation Scheme. It is approaching two years since HMRC removed all Australian schemes from the ROPS list and during the intervening period, the STM product development team have worked closely with Australian legal and tax specialists to develop a robust yet flexible retail solution.

The STM Gibraltar (AUS) Superannuation Scheme is included on the HMRC ROPS list and, importantly, has also been recognised by the Australian Tax Office (ATO) as a foreign superannuation scheme (Foreign Super). The scheme is available to clients worldwide and offers all the advantages of a standard QROPS with the additional benefit of complete certainty of tax treatment for those individuals resident (or likely to become so) in Australia.


Foreign Super status is subject to well established tax principles in Australia which ensure, amongst other things, that the ATO does not tax any growth arising within the scheme. In addition, there are advantages for clients who ultimately wish to transfer monies into an Australian Superannuation fund. Where individuals have been resident in Australia for more than 6 months (and are therefore outside of the window for a transfer free of Australian tax), they can elect a rate of 15% tax on growth since their date of residency when transferring to an Australian Superannuation fund. This compares favourably to such transfers from pension schemes without Foreign Super status where growth since the date of Australian residency is taxable at the individual’s marginal rate, currently up to 49%.

Like other STM QROPS, there is a zero establishment fee and a £750 annual trustee fee. 

Stuart Denness, Managing Director of STM Australia PTY Ltd, commented:

‘Since moving to Australia I’ve been overwhelmed by the demand from financial services professionals for a tax efficient pension transfer solution. With the ATO ruling, the new scheme provides clarity and certainty for the individual member. With 1.3 million British expats already in Australia, we expect demand from Australian resident expats to be high. It is also important to bear in mind that the product is available worldwide and with as many as 50,000 UK nationals emigrating every year plus returning Australians, there is likely to be significant interest from those who are not yet Australian resident.’

STM are also looking at opportunities to enter the Australian retail superannuation market with the intention of being able to provide clients with a full service solution.

Iain Farr, STM Group Head of Distribution is incredibly excited by the opportunity,

‘The establishment of STM in Melbourne demonstrates our commitment to servicing this market and further bolsters STM’s position as the leading provider of International Retirement Solutions.’

STM Group and related companies are not licensed to provide financial product advice in Australia.  The material on this website is for the information of financial advisers only, and is only for the purpose of giving them factual information about STM QROPS products.  Nothing on this website is intended to be, or should be construed as, a recommendation to invest in The STM Gibraltar (AUS) Superannuation Scheme or any other STM QROPS.  Australian residents cannot invest via this website or by contacting STM.  In respect of Australian residents, The STM Gibraltar (AUS) Superannuation Scheme is only available by application accompanying a product disclosure statement supplied by a financial adviser licensed or authorised under Australian law. 


Financial advisers in Australia should note that the material on this website is not for your clients.  Please do not circulate any material from this website to your clients.  STM Group is able to supply a product disclosure statement for The STM Gibraltar (AUS) Superannuation Scheme, for use by approved advisers to assist them in advising their clients.  You must hold an Australian Financial Services Licence, or be an authorised representative of a Licensee. 



Workplace Pension, SIPP, Sharia SIPP, SSAS, QROPS & QNUPS, Portfolio Bond, Annuities.
Click Me