pension

No guarantee for British expat pension growth after Brexit

by Ray Clancy on December 24, 2018

British expats living in the European Union will have no guarantee that their pensions will continue to be upgraded if the UK leaves in March 2019 with no Brexit deal.

Guidance issued by the British Government says that a no deal Brexit should not affect entitlement to getting their UK state pension, but it cannot guarantee that the amount received will be increased annually as it is at home.

(suthisa/Bigstock.com)

Currently, British citizens who have retired to dozens of EU countries are entitled to receive annual inflation increases to their UK state pension, in line with pensioners receiving payments in the UK.

The guidance explains that while the Government is committed to continue to increase payments up to 2020, there can be no guarantees beyond that.

‘We would wish to continue uprating pensions beyond that but would take decisions in light of whether, as we would hope and expect, reciprocal arrangements with the EU are in place,’ said the document from the Department for Work and Pensions. [click to continue…]

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