Paphos Life

UK expat retirees on the island have seen their purchasing power dwindle by hiking inflation and energy costs and the slump in the British pound eating away at their pension. ...

Read the article and chat about it below...

It is not just the GBP. My CHF nest egg has also taken a hammering, although I believe it will probably be less catastrophic than GBP.

Has that dropped against the euro then? That surprises me, given the poor performance of the euro.

Certainly we are getting less money/Euros now in our pension payments than we were getting a few months ago

Unfortunately, the political blunders of the UK's new PM with her recent mini budget have upset the international monetary markets. Hence the repercussions on the value of sterling vis a vis other international currencies. Which includes the euro. I was talking to a well known
IFA a few days ago, he thinks the situation will right it self by the end of the year. Hope he's right.
I was surprised to read that the exchange rate of CHF is affected by the UK's financial ineptitude as claimed by one of this boards respected members. But unfortunately, prices for both goods and services across the board have risen both here and in the UK.
Dee

Dominic wrote: ↑Sun Oct 09, 2022 9:13 pm Has that dropped against the euro then? That surprises me, given the poor performance of the euro.

Over the last year it hasn´t. The Swiss Franc rose from 0.93 to 1.03 to the Euro. See https://www.xe.com/currencyconverter/co ... CHF&To=EUR

Well anyone with CHF is very fortunate! The British son in law of a good friend of mine is working in Switzerland with a Swiss company at present. He reckons that he is very well off at present, seeing the current decline in the value of sterling vis a visl the major world currencies.

Dee

Kili01 wrote: ↑Mon Oct 10, 2022 2:13 pm Well anyone with CHF is very fortunate!
Dee

My daughter and two grandchildren are all feeling the pinch being paid with CHF. As elsewhere, income has not increased but costs of basic living have increased, including rents (most people live in rented accommodation in Switzerland the exception being my granddaughter who works in Switzerland but lives in France). I also have a small nest egg invested in CHF and its value has gone down by nearly 10% in recent months. I hardly call that "very fortunate". I should add that most of my pension is paid in CHF and I cannot say that I have noticed much significant movement.