Expat Brits fear pensions loss

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memory man
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Expat Brits fear pensions loss

Post by memory man »

As of 2025, some British retirees living in Cyprus and getting a UK state pension are set to see the amount they receive fall as it will no longer be taxed on the island, but in the UK.

The tax rates on pensions imposed in Cyprus are more generous than those in the UK, and could impact people’s choice of where to live. Those set to change are pensions paid to UK government workers.

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josef k
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Re: Expat Brits fear pensions loss

Post by josef k »

This change isn't necessarily a bad thing, so have a serious think about your own circumstances.

A friend of mine receives a UK police pension from her deceased husband, together with a UK state pension. Prior to the change she is taxed on both in Cyprus, and actually paid tax. The change means the police pension is taxed in the UK and the state pension remains taxed in Cyprus. Both are below the tax free threshold in their respective countries. The result being that she no longer pays tax in either country and is a happy bunny.
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Devil
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Re: Expat Brits fear pensions loss

Post by Devil »

It has been a good day for me because a few pence will be knocked off by 25% UK pension, but a popular vote on Sunday has increased my 75% Swiss pension from 12 to 13 months per year! :-) :-)
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