etirement savers will have to keep an eye on state pension payouts, the value of the pound and consumer protections now Brexit Day is here. The question on most people’s minds will be what it all means for them and their money.

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Pensions will be affected in a number of ways and, like all things when it comes to retirement, it will pay to be prepared. This is Telegraph Money’s guide to what Brexit will mean for your nest egg. ‘Frozen’ pensioners This is a problem which has long afflicted those who have retired to sunny spots like Australia.

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Those who claim a state pension and live in Britain are protected by the triple lock which ensures their payments increase each year in line with the highest of price inflation, average wage growth or 2.5pc. This protection does not extend to retirees living overseas.

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In the EU, the Government uplifts payouts, essentially replicating the triple lock, but this does not extend further afield, leading those who live in affected countries branded “frozen pensioners” – because their payments are frozen. Sir Steve Webb, a former pensions minister now working at insurer Royal London, said while EU uplifting has been guaranteed for three years, there is no certainty over whether this will continue past that point, potentially leaving retirees in Spain sweating over their paella.

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