In late September, it was revealed that UK insurance and pension providers could be forced to suspend payments to customers living in EU countries after Brexit.
The issue lies with the insurers. If the UK decides to leave the single market in 2019, some firms will lose their automatic license to provide payouts to British expats residing in EU countries. Unless a solution is found, insurance companies will lose the right to offer cross-border insurance unless a solution is found beforehand.
The Association ...
British retirees who relocate to Europe could have their state pensions reduced by £50,000 over the next 20 years if the UK votes to leave the EU in the upcoming referendum.
Currently, any individual who retired to a country within the EEA (European Economic Area) has their state pension increased every year under the ‘triple-lock’ system. This means that retirees benefit from pensions rising by the higher of wage or price inflation, subject to a minimum of 2.5%. However, in the event ...