Retiring


Currency fluctuations hit British expat pensioners hardest in Switzerland

by Ray Clancy on June 18, 2013

Currency fluctuations hit British expat pensioners hardest in Switzerland

Currency fluctuations hit British expat pensioners hardest in Switzerland

British pensioners living overseas have potentially lost out on over £10.6 billion of their income since 2007 due to the falling strength of sterling, it is claimed. An analysis of the top 13 countries where over one million British expat pensioners live and receive state pensions by foreign currency specialists HiFX found that those living in South Africa get the best return on state pensions while those in Switzerland fair the worst.

Overall the research shows that an expat pensioner living in the Eurozone claiming state pension abroad could have seen their monthly pension income of £440.60 worth anywhere between €655.60 in April 2007 to €510.40 in April 2013. It means that the average monthly pension for British expats has dropped by over €145.20 since 2007. [click to continue…]

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