News Forum - Frozen pension policy: British expat’s dream turns into nightmare

[Thaiger]

Expats in Thailand live a life many envy but behind the sunny façade lies a tale of financial struggle and dashed dreams. Three Britons became victims of a decades-long pension policy debacle, turning their golden years into a fight for survival. John Jones, a 77 year old British national, once roamed the globe with the … …

The story Frozen pension policy: British expat’s dream turns into nightmare as seen on Thaiger News.

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[Poolie]

I hope, but only hope, that this old geyser gets his dues after paying for it. The UK government can find 500m to arm Ukraine but no money for it's own. That's shameful.

[23RD]

The British Government could probably save millions giving Expat pensioners their annual increase as they're not using the NHS and other services that they'd be using if they were back in the UK.

The Foreign Aid Budget would be better used for this purpose instead of paying for Ethiopian Pop Bands and Indian space programmes and other ridiculous things .

[Khunmark]

They’re lucky to get anything. The Australian government view anyone who is retired and residing overseas as a self funded, defence veterans being the exception.

[Ramanathan.P]

Time to go back home.....

[ChrisS]

Who doesn't do a bit of research before retiring abroad. If he is living off his UK state pension and can't manage it in Thailand he for sure wouldn't manage it in the UK anyway!

[Vigo]

6 hours ago, Poolie said:

I hope, but only hope, that this old geyser gets his dues after paying for it. The UK government can find 500m to arm Ukraine but no money for it's own. That's shameful.

He didn't pay for it. Most UK pensioners have not personally contributed to cover the  government pensions paid out. The tax burden is carried by a small group of taxpayers. The 10% of income taxpayers with the largest incomes contribute over 60% of income tax receipts.  The Institute for Fiscal Studies (IFS)  analysis – which covers around three quarters of tax revenues (including income tax, NICs, VAT, excise duties and council tax)  a few years ago  found that the 50% of households with the largest incomes contributed around 78% of taxes.

It is fair that  foreign residents not benefit from pension increases, because they are not contributing or paying taxes.   Pensioners in the UK are still paying VAT  on the items where they do not receive exemptions.  Foreign residents do not pay that tax. The VAT helps cover the COLA.  Why then should people who do not contribute recieve a benefit that others are paying for? Foreign residents are not supporting the UK economy and have no right to demand that the UK taxpayers  cover their increased cost of living.

 

 

[Grumpish]

7 hours ago, Vigo said:

He didn't pay for it. Most UK pensioners have not personally contributed to cover the  government pensions paid out. The tax burden is carried by a small group of taxpayers. The 10% of income taxpayers with the largest incomes contribute over 60% of income tax receipts.  The Institute for Fiscal Studies (IFS)  analysis – which covers around three quarters of tax revenues (including income tax, NICs, VAT, excise duties and council tax)  a few years ago  found that the 50% of households with the largest incomes contributed around 78% of taxes.

It is fair that  foreign residents not benefit from pension increases, because they are not contributing or paying taxes.   Pensioners in the UK are still paying VAT  on the items where they do not receive exemptions.  Foreign residents do not pay that tax. The VAT helps cover the COLA.  Why then should people who do not contribute recieve a benefit that others are paying for? Foreign residents are not supporting the UK economy and have no right to demand that the UK taxpayers  cover their increased cost of living.

He may or may not have paid for it, although if he is reliant on his UK state pension he probably hasn't - most of my income comes from occupational pensions, but over the years, many of those as a higher tax rate payer, I probably have covered the cost of my state pension. Even so I would take my state pension being frozen into account for any long term planning, and it is not as though this is something new, it has been policy for many years.  

[KhunKit]

15 hours ago, Khunmark said:

They’re lucky to get anything. The Australian government view anyone who is retired and residing overseas as a self funded, defence veterans being the exception.

Not true i live here on my age pension with bi-annual increases 

[Pinetree]

12 hours ago, ChrisS said:

Who doesn't do a bit of research before retiring abroad. If he is living off his UK state pension and can't manage it in Thailand he for sure wouldn't manage it in the UK anyway!

But he would be able to claim pension credits and other benefits.  He is better off in UK to access that help 

[23RD]

47 minutes ago, Pinetree said:

But he would be able to claim pension credits and other benefits.  He is better off in UK to access that help 

That's why I stated in an early post it would be cheaper for the UK Government to pay these Expat pensioners their annual increase the particular chap in question 77 years old with a heart condition wife and School age child if he moved back to the UK it would cost the UK Government significantly more in add on benefits for himself and his family and the cost of NHS care.

X this chap by 500'000 and it would be a huge strain on the UK welfare state. 

[Pinetree]

1 hour ago, 23RD said:

That's why I stated in an early post it would be cheaper for the UK Government to pay these Expat pensioners their annual increase the particular chap in question 77 years old with a heart condition wife and School age child if he moved back to the UK it would cost the UK Government significantly more in add on benefits for himself and his family and the cost of NHS care.

X this chap by 500'000 and it would be a huge strain on the UK welfare state. 

That's logic mate, the UK governments don't do logic or sensible