UK State Pension and Benefits post Brexit.

UK State Pension and Benefits post Brexit.
News

The BRA Council thought it would be useful to publish the following extracts from the UK government’s website gov.uk. They concern the UK State Pension and Benefits payable to UK expats living in Switzerland.

 ““Living in the EEA or Switzerland by 31 December 2020

If you are a UK national living in an EEA state or Switzerland by 31 December 2020 you are covered by the Withdrawal Agreement.
You will get your UK State Pension uprated every year for as long as you continue to live there. This will happen even if you start claiming your pension on or after 1 January 2021, as long as you meet the qualifying conditions.
If you are working in the EEA or Switzerland, you will be able to count future social security contributions towards meeting the qualifying conditions for your UK State Pension.
You will continue to receive any UK benefits you already receive in the EEA or Switzerland for as long as you continue to live there, and continue to meet all other eligibility requirements.””

The full text can be found by googling “Benefits and pensions for UK nationals in the EEA or Switzerland”.

Pension boost protected by new bill

The Government has moved to avoid a State Pension freeze. (Press release 1.10.20)
“”Work and Pensions Secretary, Thérèse Coffey, has introduced a technical Bill in the House of Commons that will give the Government the ability to increase the State Pension next year.
Under current legislation, the State Pension can only be increased if there has been a rise in average earnings in the relevant period of the preceding year.
Due to the challenging economic circumstances, average earnings are expected to show no growth in that period. This Bill makes technical changes which allow ministers to deliver on their commitment to the Pensions Triple Lock next year, even if there is no growth in earnings in the relevant period, ensuring that State Pensions can still be up-rated.

Commenting on the Bill, Thérèse Coffey said:

The Government has worked hard to protect all age groups during the pandemic, strengthening the welfare safety net, introducing furlough and income protection schemes, as well as supporting those who have lost their jobs back into work.
It is only right, then, that we also ensure pensioners can see their incomes protected as we build back better.
In these difficult times, I want to give pensioners peace of mind about their financial health.
Previous Governments have taken the same approach in similar challenging economic circumstances – for example, in the Welfare Reform Act 2009.
In accordance with the usual process, the Work and Pensions Secretary will undertake a review of social security rates shortly, and will report to Parliament on the outcome of the review in November 2020.
Since 2011, the Triple Lock has ensured that the State Pension is uprated by the highest of earnings growth, price inflation or 2.5%.””

The full text can be found by typing “pension boost protected by new bill gov.uk” into your browser.

Compiled by Andrew Brix 29 October 2020