Britons retiring abroad to get help with living costs after Brexit

UK negotiators have agreed to continue paying and uprating state pensions to UK citizens living in EU countries, an industry expert said.

James Walsh, policy specialist on EU and regulation at the Pensions and Lifetime Savings Association, said the deal is buried in joint technical notes on citizens’ rights after Brexit.

“It means that British pensioners living in Spain will continue to get the same annual inflation increases they would have got in the UK.

“The same will apply to Spanish pensioners resident in Britain.”

By contrast, state pension payments for British expats retiring in some countries, notably Australia, Canada, South Africa and New Zealand, are frozen when they leave the UK.

Walsh said details are buried in the “Joint technical note on the comparison of EU-UK positions on citizens’ rights”, published recently: “This is one of the few Brexit issues that appears to have been settled.”

He said it will apply to those taking their state pension in Europe and those yet to retire.

“Any Brexit deal will have to be approved by the UK Parliament, EU national governments and European Parliament but it is highly unlikely these issues will be a sticking point,” he added.

Daily Express :: Personal Finance Feed

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