Good News for Ex Pat Pensioners!

[Uncle D]

Whatever, you work for free

[kingfisher]

The pound continues in the right direction at 1.1004 against the euro, 1.3216 against the dollar.
Some further GOOD NEWS:
London stays world's top finance centre despite Brexit
REUTERS 11th September 2017
FRANKFURT/ LONDON (Reuters) - London remains the globe's most attractive financial centre, extending its lead over New York despite Britain's looming departure from the European Union, a survey found on Monday. Britain's departure from the trading bloc has led to some politicians and economists predicting London will lose its pre-eminent status as a financial centre, but there are few signs of that happening yet.
London was placed first, followed by New York, Hong Kong and Singapore in the Z/Yen global financial centres index (GFCI), which ranks 92 financial centres on factors such as infrastructure and access to high quality staff. New York was 24 points behind the British capital, the biggest gap between the two since the survey started in 2007.
New York's ranking fell 24 points from last year, the largest fall among the top contenders, a dip the survey's authors said was "presumably due to fears over U.S. trade".Since becoming U.S. President in January, Donald Trump has pulled out of a planned trans-Pacific trade agreement and is pursuing a more isolationist economic policy.
.

[WHL]

I have to say that I find it rather strange that people who have absolutely no intention of ever returning to the UK still want their UK Bank Accounts and credit cards. I can understand when people are not sure that they would retain this facility and certainly wish that we had but when people take every opportunity of finding fault with the UK and say they will never return why bother? Are there still some good things pertaining to the UK after all?

A bit like people going back to live in the UK, but always talking about Cyprus.

[Varky]

I have to say that I find it rather strange that people who have absolutely no intention of ever returning to the UK still want their UK Bank Accounts and credit cards. I can understand when people are not sure that they would retain this facility and certainly wish that we had but when people take every opportunity of finding fault with the UK and say they will never return why bother? Are there still some good things pertaining to the UK after all?

Perhaps it is to have some money in an account other than Cyprus so avoiding a future possibility of having another slice taken from their balances. Having lived abroad for a long time I had accounts in US Dollars, Emirati Dirhams, Saudi Riyals, Euros and £ (Not all at once). In this way you could avoid the vagaries of changing exchange rates.

[Firefly]

WHL

If we have had experience of living in Cyprus for quite a few years, does that exclude us for commenting ? I for one have belonged to CL for many years, before belonging to PL. Lots of posters who moved to PL when CL closed have discussed many topics over the years, and still do. Some newcomers seem to think that we shouldn't pass an opinion on Cyprus once we have left the Island, we still will.

Jackie

[trevnhil]

Re being in Cyprus and having bank accounts in the UK. You will find that some UK pension providers will not pay into an account abroad.

[ApusApus]

We have income & expenses in both countries so it makes sense to have bank accounts as well!


Shane

[Poppy]

Never thought of that Trev as all our pensions were payable to Cyprus. I had my civil service pension and a small one from Scottish Widows and my husband had a Prudential pension in addition to our RP's. Also take your points Shane and Varky - I am not going to even respond to your post WHL as I think Jackie has more than adequately responded!

[WHL]

WHL

If we have had experience of living in Cyprus for quite a few years, does that exclude us for commenting ? I for one have belonged to CL for many years, before belonging to PL. Lots of posters who moved to PL when CL closed have discussed many topics over the years, and still do. Some newcomers seem to think that we shouldn't pass an opinion on Cyprus once we have left the Island, we still will.

Jackie

I was responding to a poster who was having a pop at expats taking an interest in UK matters, where they themselves live in the UK and are always talking about Cyprus, nothing wrong in that, but it works both ways.

[Firefly]

WHL

Exactly which post is 'having a pop' at expats taking an interest in UK matters ?

Jackie

[Poppy]

I was not going to reply but I will so lets just get this straight. I rarely post about Cyprus and very rarely pick fault with it. I could but I don't. The majority of my posts are Political and mainly to do with BREXIT which I believe is happening in the UK but there are many on here who are discussing it and why not? I was NOT having a pop at anyone taking an interest in UK matters but just finding it strange that people were still banking in the UK when they have no intention of returning and often picking fault with it. Several people have answered my post explaining reasons for continuing to bank in the UK which I accept and understand. I have to say that the people who have given these explanations are not ones who pick fault with the UK either. They have answered me civilly so what is your problem WHL?

[Mark]

My pensions are paid in the UK so I can transfer money when the rate is favourable.

It also allows me to make UK purchases on Amazon, book flights etc without exchange rate issues.

[Poppy]

Talking about good news and pensions I have just read that the Benefit negotiations on citizens rights have virtually agreed that UK pensions paid to Expats will receive the annual increases as they do now. Apparently there is no argument about this and will just need to be ratified with the final agreement. I know some will say it is only what they are receiving now and of course it is but I know many were worried.
Ps message to WHL - just seen your post in the pit and no I am not jealous of however wealthy some of the Russian residents of Paphos may be - you are totally wrong and I suggest that you should block me as any post I make seems to annoy you ! Make a foe of me and stay cool - life is too short!

[jeba]

Talking about good news and pensions I have just read that the Benefit negotiations on citizens rights have virtually agreed that UK pensions paid to Expats will receive the annual increases as they do now. Apparently there is no argument about this and will just need to be ratified with the final agreement.

Why would there be a need to negotiate that with any other country / the EU in the first place? It´s none of their business how much the UK is paying to it´s pensioners and as they won´t have to pay for it why would they even care?

[Poppy]

I don't really know Jeba maybe because it is a reciprocal agreement that we currently have within the EU. I'm sure someone else can explain it better.

[Royal]

Why would there be a need to negotiate that with any other country / the EU in the first place? It´s none of their business how much the UK is paying to it´s pensioners and as they won´t have to pay for it why would they even care?

I don't really know Jeba maybe because it is a reciprocal agreement that we currently have within the EU. I'm sure someone else can explain it better.

I suspect that you're both right. The UK does not increase state pensions annually as a matter of course. If you live in Canada or New Zealand, your pension is frozen at the rate is was when you become resident there.

The UK does, however, have reciprocal agreements with the EEA, Switzerland, Gibraltar and various other countries. https://www.gov.uk/government/publicati ... te-pension

It is certainly good news that those living in the EEA after Brexit will not lose the annual increas, although of course WHL (who thinks that my posts are all rubbish) will probably disagree.

[Jim B]

I believe it's the EU membership that guarantees pension rises for British citizens living in other EU countries and not the UK; hence the concern after leaving the UK Government could pull the plug.

http://www.thisismoney.co.uk/money/pens ... rexit.html

Jim

[Mark]

If the plug was pulled, tens of thousands would return to the UK, after a few years of lost income.

The U.K. Is full, and could not absorb elderly returners.

[Dominic]

Ps message to WHL - just seen your post in the pit and no I am not jealous of however wealthy some of the Russian residents of Paphos may be - you are totally wrong and I suggest that you should block me as any post I make seems to annoy you ! Make a foe of me and stay cool - life is too short!

While I would normally admonish Poppy for breaking the "What gets said in the pit, stays in the pit" rule, she makes a very valid point here. Life is way too short to waste it arguing pointlessly on forums.

[WHL]

Talking about good news and pensions I have just read that the Benefit negotiations on citizens rights have virtually agreed that UK pensions paid to Expats will receive the annual increases as they do now. Apparently there is no argument about this and will just need to be ratified with the final agreement. I know some will say it is only what they are receiving now and of course it is but I know many were worried.
Ps message to WHL - just seen your post in the pit and no I am not jealous of however wealthy some of the Russian residents of Paphos may be - you are totally wrong and I suggest that you should block me as any post I make seems to annoy you ! Make a foe of me and stay cool - life is too short!

My post was aimed at expats and Cypriots in general, as when discussing Russians with them, the point of how much money they have, always crops up, yes I stand by my observation that there is a lot of jealousy involved regards how much dosh they have.