Brexit


All the latest Brexit news with regard to the state pension can be found right here:

“For British expats living in the EU to continue receiving their annual state pension increases, the UK will need to agree a reciprocal arrangement with the EU or strike deals with individual states. It is already estimated the Treasury saves around half‐a‐billion pounds a year from pensioners excluded from the increases. This could easily double if pensioners in the EU were to be treated similarly.”

– Graham Keysell, Director,The Spectrum IFA Group (France)

“Bilateral agreements are not necessary in order for pensions paid outside Great Britain and the EU to be uprated”.

– Department of Work and Pensions spokesman in 2013 as a result of a Freedom of Information Request

brexit-8On June 23rd, 2016, the British people took a seismic decision in voting to leave the European Union (EU), and the European Economic Area (EEA). This triggered a complete Government reorganization, with David Cameron stepping down as Prime Minister and the Conservative Party electing Theresa May as the new Prime Minister. She has said that she will set Article 50 in motion – the two year time clock will start clicking from then….

 

brexit-7According to government statistics there are over 476,000 British pensioners living in the EU/EEA and once the dust has settled on the Brexit negotiations, we will know if they will be joining the over 544,000 British pensioners who already have their pensions “frozen” – that is to say that they will no longer receive the annual indexation to their state pension. There are over 108,000 British pensioners living in Spain alone:

“British expat pensioners spend good money in warmer countries such as Spain and this is something the EU will want to continue. So the generosity of reciprocal state pension deals for them are yet another negotiating card that will come into play.”

– Adrian Boulding – tisa policy strategy director

11-Jan-17: Olive Press: Brexit: What it may mean to your State Pension

3-Nov-16: Daily Telegraph: Brexit could be delayed by up to a year following High Court ruling

13-Oct-16 Euroweeklynews: Last ditch court battle over how Brexit unfolds

10-Oct-16 UK Parliament: Petition for pension increases

29-Sep-16 Euroweeklynews.com: Pensioner Rights and fights

9-Sep-16 The Telegraph: Brexit minister says it is ‘very improbable’ UK will remain a member of the single market

4-Sep-16 The Telegraph: G20: Theresa May in talks over a free trade deal with Australia after Brexit

23-Aug-16 AOL Money:  EU expats face pension freeze

17-Aug-16 The Olive Press: UK pensioners living in the EU should be afraid, very afraid… but help is on its way

16-Aug-16 UK Parliamentary Briefing: Brexit: impact across – policy areas – Edited by Vaughne Mill

10-Aug-16 UK Parliamentary Briefing: Brexit – implication for pensions – Djuna Thurley

2-Aug-16 The Guardian: Falling pound hits British pensioners living overseas

29-Jul-16 Money Marketing: The Brexit effect on ex-pat state pensions

“The Government doing something about this won’t be down to the political power of the expat voter, it will be driven by the Treasury. However, my hunch is that the Government will want to negotiate state pension deals. It builds uprating into its base line, so it doesn’t have to find new money for this. The UK
Government will not want older expats of, say, 75‐plus coming home. With that in mind, I suppose a general deal will be done,”

– Steve Webb (ex-Pensions Minister), Royal Life

25-Jul-16 The Olive Press: Expat pensioners lose thousands of euros in pensions because of Brexit

27-Jun-16 The BBC: Brexit: What does it mean for expats, here and in the EU?

24-Jun-16 Daily Express: Brexit: What will happen to pensions when Britain leaves the EU?

17-May-16 The Telegraph: Expat pensioners in EU ‘will be £50,000 poorer’ as a result of Brexit

4-Mar-16 UK government: The process for withdrawing from the European Union

26-Feb-16 The Independent: 400,000 Britons living on the Continent could have state pensions frozen

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