Uk Government Scam Retired At Rp Level (?)

[Thomas]

According to this website, UK government scam retired at the inflation compensation, if chosing to move to "wrong" country!  :bash:

http://www.everyinvestor.co.uk/analysis/2013/10/28/government-asked-inflation-link-overseas-pensions-6496/

Government asked to inflation link overseas pensions

MGM Advantage has called on the government to review the policy denying thousands of people inflation-linked rises in their state pension when they choose to retire abroad.

 

Where a country does not have a reciprocal agreement with the UK, including some of the most popular retirement hotspots, UK pensions are frozen at the point of retirement. 

Australia, Canada, New Zealand and South Africa all currently fall outside the reciprocal arrangements with the UK but are popular with expats.

“Retiring abroad is an aspiration for many people, with our research showing three of the most popular foreign retirement destinations do not currently have reciprocal agreements in place,” said Andrew Tully, pensions technical director at MGM Advantage.

“We need to ensure a level playing field for anyone retiring abroad, irrespective of their chosen destination. People who have been caught out by finding their UK state pension frozen at the point of retirement understandably feel hard done by.

“For example, if you retired to Canada ten years ago, your UK state pension would now be worth 42% less than if you had retired across the border in the US. Many retirees have found this has hit them hard.”

What happens to my state pension if I retire abroad?

The state pension can be paid anywhere in the world. Unfortunately, there may be bad news: state pensions increase each year, but you’ll only receive the increase if you choose to live in another part of the European Economic Area or any country that the UK has an agreement with to allow increases.

How do I arrange for my private/company pensions to be paid?

Most private and company pensions can be paid into an overseas bank on request, but there may be extra charges to pay.

There is another approach: You may be able to transfer your pension into a special arrangement called a Qualified Recognised Overseas Pension Scheme (‘QROPS’ for short). This route can be more advantageous in certain circumstances, but these schemes can be complicated and costly. That means it’s important to take specialist advice.

What else should you think about?

This isn’t an exhaustive list, but it does cover some of the key issues you should think about:

Tax rates. How do tax rates compare with the UK and how will this impact you?
General costs of living. The cost of food, eating out, clothes and so on.
Property prices. Many people are attracted by the prospect of cheaper property prices.
Healthcare. What is free and what you have to pay for (and the likely costs)
Other considerations. For example, some countries insist you invest money in the country often at low rates.

 

Sweden government scam retired too by giving much bader conditions to retirered moving outside European Union...

[JJReyes]

This policy is based on a European Union agreement. Similarly, there was an agreement to give caregiver jobs to citizens from the poorer countries within the EU rather than recruit from countries like the Philippines. Neither policies makes sense, but logic never stopped politicians.