More than half a million expats denied full pension
The Government has published its latest figures on the amount of people that are affected by the frozen pensions policy.
The statistics were exposed by Lord Freud, the minister for welfare reform, following the Liberal Democrat peer Lord Jones asked for a written answer finding out how many people living abroad received non-uprated state pensions in the latest period for which information is available, broken down into countries, reports the Telegraph.
The figures show that there are over half a million (555,650) retirees living abroad whose pensions are not linked to inflation, as well as finding the locations where the most people are affected.
Nearly half (45 per cent) live in Australia, with the rest of the top five including Canada, New Zealand, South Africa and India. Reacting to the information, Tony Bockman, of the International Consortium of British Pensioners, held that they show the shocking amount of the frozen pensions scandal.
He said that over half a million expats who have contributed to the health of Britain are being differentiated against because of the location they have retired in. He added that the injustice of frozen pensions increases every year as more individuals are hit and their pensions drop more value.
The NZD exchange rates on 04/04/2012 were as follows: GBP NZD = 1.9492, EUR NZD = 1.6118, USD NZD = 1.2264, AUD NZD = 1.2601, CHF NZD = 1.3395, INR NZD = 0.024, AED NZD = 0.3342, MXN NZD = 0.0959, CAD NZD = 1.231, ZAR NZD = 0.1567, RUB NZD = 0.0416, . See today's New Zealand Dollar Exchange Rate
Leave a Comment