Pensions - Articles - Expat pensioners income up but still worse than 10 years ago

 The largest number of these 60,000 pensioners retired to the Eurozone where despite the fact that the Pound has risen by 10% in the last year they will still be 7% worse off than a decade ago. A £5,000 pension now buys 6,548 Euros compared to 5,963 in February 2014, but this remains 500 Euros short of what could be purchased in 2005.

 Andy Brown, Director at Equiniti, said; “Expat pensioners are always at the behest of the currency exchange rollercoaster and the Pound strengthening over the last 12 months has been a welcome relief for most, especially those in the Eurozone. However, many pensioners are still much worse off than a decade ago, especially those that retired in the United States, Canada, New Zealand and Australia. The hardest hit are those receiving their pension in Switzerland, Thailand or the Philippines.”