Green Party Vows to Restore Full State Pension to Expats
In the Green Party’s manifesto it clearly states that they would restore the full state pension to pensioners living abroad.
Ministers have come under pressure from various groups to restore full pension rights to expat pensioners for some time. They have always dismissed it however, claiming it would be unaffordable.
Currently, expat pensioners only receive a fraction of the £115.95 per week state pension paid to pensioners who live in Britain. The only exception to the rule is if you live in a country which has a reciprocal agreement with the UK. If so, you will receive the full state index-linked pension. Spain, France, and the USA are on that list. Commonwealth countries such as Canada and Australia are not.
Arguably, the Green Party has no chance of winning the May General Election. However, with the unpredictability of this election, it is not out of the question that they could be asked to form a coalition government. Should this occur, there is a chance that restoring full pensions to expats will be one of the conditions of forming that government.
Expat Pension Argument
The expat pension argument is one that constantly rages and the issue affects half a million pensioners. Successive governments have always denied expat pensioners the right to a full state pension. In 2013 this came to ahead when the International Consortium of British Pensioners called on the Commonwealth to exclude Britain until the issue was resolved. They described the reduced pension payments as being one of “discrimination and inequality”.
Pension Advice
Expat or not, getting sound pension advice from a pensions expert is essential. There are number of factors which come into play such as taxation, and this often catches people unawares. The options available are complex and considerable, and often the best pension solution is a bespoke one centred on your circumstances.
As an expat and award winning pension adviser myself, I can help find the best pension plan for you. Click here complete the Call Back Service form and we can work out your circumstances to yield the maximum return on your pension pot. Regardless of who is in power come May 7th.
Source: The Daily Telegraph
For more information, please contact Michele Carby at Holborn Asset Management on +971 50 618 6463 and on e-mail at [email protected]
