Post-Brexit Considerations for Expats

brexit expat pension considerations

On the 24thof January, the government put to bed the top concern of many expats. It was finally confirmed that current EU expats will not be subject to frozen state pensions. The effect that the Brexit deal would have on expat’s state pensions was a source of worry for many Brits living and working in the EU. But, thanks to the government’s deal, people who live in EU countries or move there before the end of 2020 are guaranteed a yearly pension increase of at least 2.5%. This deal from the government alleviates the fears of 650,000 British expats living in the EU. But, for many other expats around the world and those that are considering moving to the EU post-2020, there still things to consider.

Why pension considerations are important after Brexit?

Missing out on state pension rises can be massively detrimental to your financial life in retirement. For example, the basic pension rate in 2000 was set at £67.50 a week. Living in a country where your pension is frozen means that you will still receive this rate now. However, those that retired on that same rate in 2000 and live in a country where their pension is notfrozen will currently receive £129.20 a week. There are currently almost 150 countries where expats are experiencing such financial hits, including Hong Kong, Japan and Canada. So, those planning to move to EU countries are right to fear the possibility that their state pension will be frozen as it can massively impact their quality of life in retirement.

What if my pension rises aren’t protected?

Currently, the UK’s deal only protects those expats that have moved to the EU before the end of 2020. Anyone moving after that point is subject to the effects of subsequent deals made by the UK. Though the government is looking to replicate this deal for future expats, if a deal is not agreed in time, those moving might lose out on future pension rises. There are currently 550,000 expats whose pension rises aren’t protected. For these expats and those facing uncertain moves after 2020, it’s important to find a way to secure financial wellbeing after they retire. There are many ways to do this, but perhaps the most fruitful and one of the easiest is investing in property.

How can I ensure financial security in my retirement?

As noted above, investment in property is a great way to secure financial security for your retirement. Living abroad does not adversely impact the possibility of obtaining a UK mortgage. In fact, with possible Brexit turbulence causing further market uncertainty in the UK housing market and a lack of market confidence from potential domestic buyers, there will be buy-to-let deals available for expats. Using an expert mortgage broker like Liquid Expat Mortgages can be incredibly beneficial for someone trying to secure financial stability through investing in property.

Stuart Marshall, CEO of Liquid Expat Mortgages, says ‘with a history of working to serve expats, Liquid Expat is perfectly suited to the task of helping expats find financial stability in their retirement. We build personal relationships and evaluate each person on a case-by-case basis, allowing us to find the best deal for each client’. With special access to exclusive deals from lenders and expert knowledge of the market, Liquid Expat Mortgages is best positioned to help its clients avoid financial turbulence in their retirements as a result of frozen pensions.

Contact us.

Liquid Expat Mortgages is the No.1 Expat Mortgage broker. We have a team of experienced and regulated mortgage consultants, dedicated to helping expats find the very best mortgage deal. We work with over 50 lenders to deliver the best product for your needs. For complete Expat Mortgage Support, contact Liquid Expat Mortgages and see how Liquid Expat Mortgages can help you. Just call us 24/7 on +44 (0)161 871 1216 or visit