Author Topic: Plunging Pound Saps Expat Pension Spending Power  (Read 123 times)

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Offline thaiga

Plunging Pound Saps Expat Pension Spending Power
« on: January 02, 2018, 02:25:07 PM »
happy new year but not such a happy pound sound, more of the depressing news about the brexit pound, what most of us already know anyway, as it's us guys that are suffering the mistakes made by the so called clever ones in power getting a big fat wad of dough for messing up, they should be made accountable for there actions. yes i know most had the chance to vote but didn't really know or wasn't warned of what could happen.

Here's a report on the situation from iexpats.com

the popular destinations for British expats where exchange rates and inflation are eroding their spending power are Thailand, where pensions are worth 18% less than a year ago.

Despite the financial hardship faced by many expats, the British government refuses to step in and upgrade thousands of state pensions frozen at the initial payment because Britain has no agreement with most foreign governments to do so.

The DWP also confirmed the government has no plans to review or change the rules.

“Some payments remain frozen in time, staying at the same amount as when they first received their overseas pension. This leaves some to survive on as little as £30 per week and some are now receiving less than when their pension first started,” says the International Consortium of British Pensions.
Anyone who goes to a psychiatrist should have his head examined.
 
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