UK. Pension news: OAPs risk ‘losing THOUSANDS’ from ‘frozen pensions’ if they retire abroad
WORKERS dreaming of retirement in the sun could lose out on tens of thousands of pounds worth of state pension if they pick the wrong country, campaigners say.
As many as 550,000 Britons living overseas are existing on “frozen pensions”, with some receiving only £50 a week instead of a full state entitlement currently worth £165.
Despite paying national insurance all their lives, their state pension could be frozen at the rate when they move – meaning they face a decline in their real-term income every year – joining hundreds of thousands of British pensioners struggling to make ends meet overseas.
Read More: Express
