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12 April 2017

Pension Freeze for Expats Post Brexit

1 min

British citizens who have retired and emigrated to EU countries, have thus far retained their rights to receive free healthcare and increments on their state pension in line with inflation, however these privileges will be subject to negotiation as part of the eventual ‘Brexit’ package. The income of British pensioners who live abroad has already suffered as a result of the depleting value of the pound following the EU referendum, and now there is a question mark over access to medical treatment and other vital payments such as invalid and carer’s allowances. The incentive to relocate to a warmer climate has been a popular choice for those approaching retirement, both for medical and economic reasons, but having to pay out for healthcare as they age and receiving a freeze in pension payments is a prospect that is neither attractive nor feasible. If expats are unable to secure their current benefits following severance, many may be forced to return to Britain, but having sold their property many years ago they may find that they are no longer able to afford a comfortable lifestyle.

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