State pension warning as thousands could miss out on pay rise ‘postcode lottery’ | Personal Finance | Finance
The state pension will rise inline with September’s inflation figure of 10.1 percent next April but not all pensioners will benefit.
An estimated 200,000 to 250,000 expats who live abroad are retired but unless they live in the US or European Union they won’t see an increase to pay packets.
After Chancellor Jeremy Hunt’s Autumn statement the basic state pension paid to people who have reached the state pension age before 2016, will increase to £156 per week or £8,122 a year.
The new state pension will increase to £204 each week, or £10,600 annually but expats who retired in 2000 and then moved to Canada will receive just £3,520 per year in basic state pension income.
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