Tagged: Pensions expats
What will happen to UK pensioners living in the EU after Brexit. Will they still qualify for ‘triple lock’ pension increases?
This effects me too. There was something in the papers today saying that in the event of a no deal we might suffer pension wise. No one seems to know. Do you email this lot questions or do they just respond to you Dover?
Hi Caerurfa. You post your question on the Forum and then a member of the BD Team or some other Forum member will try and give you an answer.
Hi Dover and Caerurfa. Thank you for the posts. This is a really important issue. There are an estimated 900,000 people receiving pensions from the UK government but living in other EU countries. There are also 1000’s of EU nationals who chose to retire to the UK who also face the same potential worry until this is actually sorted. There are a number of factors here: Brexit, Economy and reciprocal agreements. Let’s briefly run through them before I give you the standard ‘we don’t know yet’ answer.
So let’s leave Brexit till last. The economy rules all pensions and the triple lock relies on taxation so if Brexit results in a drop in the Economy (you see what I’m trying to do here) then less tax equates to less money in the government coffers. All this is interlinked. We’ve had a lot of assurances so far but it all comes down to Brexit. Solid economy then no issue there but within the EU there are reciprocal agreements for all states and this issue concerns not just the UK expat community but all expats. Particularly the EU citizens who retired to the UK. There is another deal to be done here and rest assured we will bring you the news as it happens. Not the answer you were looking for but it’s the best we have.
Thanks for that BDSteve. In other words watch this space.
That’s about the size of it Dover but we expect some advice soon and we will decode it.