Expatriates in South Africa could be affected by the European pensions crisis and should therefore take responsibility for their own pension pots.
That is the advice given in an article on bizcommunity.com, which has said that the economic pressure from the rest of the eurozone could affect the pensions of British nationals.
It says that while Britain has remained strong in the face of the problems, this may not last with international investors adding pressure to the situation.
An example of the situation felt by some is given by Greece, which has cut its pension payouts to retirees by as much as ten per cent in some cases and will be raising the pension age from 65 to 67 next year.
Quantitative easing in the UK has led to pension pots going into “free fall”, which has an impact on expatriates living abroad all over the world.
They should therefore keep abreast of the situation and ensure that they are resourced for their retirements.
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