Pensioners retiring in seven of the twelve most popular destinations for UK expats will have their state pension frozen at the rate when they first started drawing it, according to Alliance & Leicester International (ALIL).
While over one million UK pensioners are choosing to retire abroad, destinations are viewed differently by the UK Department for Work and Pensions (DWP). A study by the Isle of Man-based international savings bank found pensioners in affected countries do not receive any annual uplifts or inflationary increases to their state pension payments. Expat pensioners in New Zealand, South Africa, Dubai, Canada, Australia, Singapore and Hong Kong will not see their state pension increase annually. However, retirees in America, Italy, Portugal, Spain and France will receive uplifts. With the...
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