About Frozen Pensions

Summary

The UK state pension does not increase for individuals who move to certain countries, despite having social security agreements in place.

Highlights

- 🌏 The UK state pension only increases for those living in certain countries, causing resentment among retirees living in countries without increases.

- 💰 The impact of the lack of pension increases can result in significant financial losses for retirees over time.

- 📑 The UK's decision not to apply pension increases dates back to financial constraints in 1977, and the government has been unwilling to amend this policy.

- 🤝 Other countries, such as Canada, have criticized the UK for not honoring pension increases and have raised the issue through various channels.

- 🏦 The UK government has stated that the lack of pension increases for retirees living abroad is a long-standing policy and is not likely to change, despite the impact on retirees' finances.

The following video was created by A.I.

Summary

In this video, Les discusses the UK State Pension and the issue of pension freezes for retirees living abroad. He suggests a solution for increasing pension payments.

Highlights

-💸 The UK State Pension is frozen for retirees living in certain countries, leading to no pension increases.

-🌏 By living in a reciprocal country for 185 days, retirees can claim their full pension increase and then return to their current country of residence.

-📞 Les provides telephone numbers for the Future Pensions and International Pensions departments for more information.

-✈️ He shares estimated costs for flying to a reciprocal country and obtaining the necessary visa to qualify for the pension increase.

-🏝️ Les points out the financial benefits of living in a reciprocal country, as the increased pension payment can offset the cost of living there.

NOTE: This information may be incorrect ... when returning to Thailand your pension may revert to the original frozen pension ... please double check if you intend to try this option.