Pensions - Articles - Impact of Brexit on pensioners

 "The Treasury report on the pensions impact of Brexit rightly highlights the likely drop in real terms for the State Pension. George Osborne cites a £140 pa loss of buying power for each of the 11 million pensioners. This sizeable £1.5bn hit still has to be seen in the context of our annual net contribution to the EU of £10bn, though."

 "The Treasury discounts the impact on members of DB schemes, where their pensions are largely inflation-proofed. Of course, there will also be a very substantial cost to the employers running those schemes to pay for the higher pension increases expected and that has to come from somewhere."
 
 "On the other hand, the projected fall in assets of £170bn (or £300bn for a 'severe shock' scenario) for over 65s is arguably double-counting. 80% of the non-pension assets considered here is property and we've already been warned about a potential 10-18% fall in house prices. Fortunately the 8.5 million home owners over 65 will only suffer this loss once (even if the projection is proved right)."