Equity Trust vows to appeal Singapore QROPS ruling

On Friday a high court judge ruled the recognised overseas self-invested international pension (ROSIIP) was not open to residents of Singapore, which is a condition for the scheme to qualify as a QROPS. HMRC contested the scheme had not been properly registered with the Singapore authorities and had been treated by them as a foreign trust rather than a pension scheme. It was the latest court battle in a three-year legal wrangle which began when HMRC refused to recognise any QROPS in Singapore in 2008. Today, Frederick van Tuyll, director of Equity Trust, said: "We feel the decision...