Expat pensioners' income falls by up to 50% in a decade


Expat pensioners have suffered falls in retirement income by as much as 50% due to the weakening pound, warns Equiniti Paymaster.

This firm has identified how the pound is performing against overseas currencies for the most popular retirement districts. The research is based on 50,000 expats to whom Equiniti administers international pension payments. According to the data, the majority of pensioners (12%) have retired to countries in the Eurozone. An expat who retired in March 2003 with a pension of £5,000 would have received 7,300 Euros but the same pension would now bring in 5,692 Euros. The purchasing power of this fund has fallen by a fifth (22%). Retirees in Canada with a fund of £5,000 have seen a drop in...

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