Expats Get Better State Pension Returns In South Africa
If you decide to relocate, will you ever give any thought to how that will impact on your state pension payments? Or if you have relocated to another country did you think about your pension? The reality is the amount you get paid will vary depending on the country. Factors such as the economy take a huge toll on your retirement income. But there are many other issues that affect how the pound translates into another currency.
However, the news is not all bad. As British expatriates in South Africa will find that they will get the best return on their state pension. At the moment this pays £110.15 per week, obviously those who qualify for the additional state pension will receive more.
British expatriates hit hard by the demise of the pound
Your retirement income is not something that can be taken lightly. It will play a crucial part in your golden years, and as such you would want to protect the amount you would receive as much as possible. But the reality is that there is nothing you can do about it. Because it is dictated by the conditions in the country you are currently living in, and the conditions from where it is being paid.
British expatriates in South Africa will find that they will get ZAR13.70 against the pound. When you team this up with the weather and everything else South Africa offers, you would think that life could not be any better for expats. The economy in South Africa is the largest in Africa, but the nation still has many political problems. However, looking past that there is still no denying that in regards to the state pension, South Africa still offers the best return.
The falling strength of the sterling is a huge concern for British retirees living in foreign pastures. Research that was published by HiFX, has shown that those Brits who claim the UK state pension outside the UK have lost out on almost £11 billion since 2007. The research included 13 nations where almost 2 million British expatriate pensioners reside. Looks like all Britons, expats and those living in the UK, are hoping for the pound to find its feet and start improving in strength.