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How do Frozen British Pensions Affect You?
With the EU referendum coming up in the UK soon, there is talk about how bad it will be for UK pensioners, living overseas, who will lose the annual Pension Increase, if the UK leaves Europe.
Those who left the UK over 15 years ago cannot vote in the “Do We Leave Europe Referendum”
Leaving within 15 years still allows us to vote in the referendum.
Various Expat destinations have the rule that Pensions do NOT get any annual increases after the pension grant date, whilst other DO GET the annual increase.
A statement on the Telegraph quotes:
A freeze would be particularly frustrating for the hundreds of thousands of EU expats who have been living abroad for more than 15 years, who under current rules will not be allowed to vote in the referendum.
No one cares about the hundreds of thousands of British Expats who have been living in Australia, and other countries, who already have their Pensions frozen.
Maybe if those British Expats in Europe, with indexed Pensions, had joined with the British Expats in Australia etc, without indexed Pensions, to try to change the system before, this may not be a problem for them now.
But it didn’t affect them before, so why would they have cared.
Now, they may be just like the rest of us, if Britain pulls out of Europe.
I think it should be equal, but would prefer all pensions to get the indexation, just like the British Expats do in
British Pensioners in Canada, Australia and India do not receive the increases.
British Pensioners in the Philippines, US, Barbados, Bermuda, Jamaica, Puerto Rico, Israel and others DO get the increases.
There are currently about 500,000 British State pensioners in countries where the Pension is frozen.
There are about 550,000 British State pensioners in countries where the Pension is currently NOT frozen.