Why is my UK STATE PENSION not INCREASING and in other countries it does? Financial Planning
Edmund Bailey Edmund Bailey
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 Published On Nov 19, 2021

Why is my UK State Pension not increasing and in other countries it does??

Why it is that the UK State Pension doesn’t increase for those that move to certain countries and for others it does?

As a reminder the basis of this is that if you move to live in another country then you will receive the UK State Pension entitlement that you have built up, whether that’s 10 or 35 qualifying years or the old basic State Pension. So that bit is good and nice, however the sticking point here is that there are only certain countries where if you live you get the increase. The list of countries where you would receive the increase is the EEA countries and Switzerland.

Then there are the countries that the UK has a social security agreement with. Meaning an agreement that is meant to protect the social security rights of individuals moving between countries. Also known as bilateral or reciprocal agreements, which to be fair is nice, imagine you have been working in the UK then you move to Canada but you end up in a position requiring social security, then in that case, it is available to you. The list of countries with an agreement in place can be found on the gov.uk website, link down below.

📘References:

House of Commons Library, Frozen Overseas Pensions, Feb 21
https://commonslibrary.parliament.uk/...

Gov.uk list of countries where pensions are uprated:
https://www.gov.uk/government/publica...

CBC Article
https://www.cbc.ca/news/politics/uk-b...

Further Links & Information sent to me (since making this video):
https://bpia.org.au/
https://britishpensions.com/
https://pensionjustice.org/

🗒 Please note:

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The information provided is based on the current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.

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This channel is for information and education purposes only. Any information or guidance given does not act as financial advice. Please consult a financial adviser if you are unsure in anyway.

Keep in mind that the value of your investments can go down as well as up, so you could get back less than you invest.


⭐ My aim is to provide education and guidance to help individuals understand pensions, investments and protection.

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