ABI renews warning over expat pensions in no deal Brexit scenario

UK could lose access to EU 'passporting' regime

James Phillips
clock • 2 min read

MPs have again been warned that it may become illegal to pay private pensions to expat Britons if the government fails to secure a Brexit deal.

A no-deal Brexit would lead to UK firms losing access to the EU's ‘passporting' regime - meaning UK-based insurers and providers could be barred from making payments into the EU post-Brexit if no alternative arrangement is made. This was the warning from the Association of British Insurers (ABI) when giving evidence to the Exiting the EU Committee's inquiry into process made in the negotiations. Speaking to the committee yesterday (24 July), ABI director general Huw Evans said such a risk was "perfectly plausible" in the event that no deal is reached by 29 March next year. "If UK c...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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