23rd September 2015
Pensioners living abroad with so called “frozen pensions” should take heart from Jeremy Corbyn’s victory says an international financial adviser.
Despite years of campaigns, many pensioners, heading to a seemingly arbitrary list of countries, still see the rate of their pension “frozen” at the point they leave the UK.
However, AES International points out that Jeremey Corbyn is a member of an all-party Parliamentary group on frozen British pensions, which was set up specifically to campaign for change and so his appointment as leader of the opposition may push the issue up the political agenda.
James McLeod, head of pensions at AES International, said: “This issue has long been largely ignored by mainstream politics, despite the fact it affects at least 555,000 British pensioners living abroad – with many more added each year.
“It is not unreasonable for people who have worked their whole lives in the UK and who have paid taxes the whole time, to expect their full entitlement when they retire. It is unlikely to be all they are relying on, but it makes a substantial difference to many people’s lives.
“Hopefully Corbyn’s appointment will bring this into the spotlight and bring an end to this inequality.”