Offshore savings Updated:
Due to the falling strength of the pound, British expats living abroad who claim UK state pension have lost out on over £10.6 billion in income since 2007, according to leading foreign exchange specialist HiFX.
The research, published by HiFX, analysed the top 13 countries where some 2 million British expat pensioners live and receive the state pension, finding that the value of their monthly payments has significantly dropped in value.
For more information on 'why pensioners abroad are losing money' check out HiFX explained infographic below:
Click here to enlarge image
<a href="http://media.moneyfacts.co.uk/image/HiFXAreyoulosingmoneyabroad_690_x_2415.jpg" target="_blank"><img src="http://media.moneyfacts.co.uk/image/HiFXAreyoulosingmoneyabroad_690_x_2415.jpg" width="690" border="0"></a> <br />Source: <a href="http://moneyfacts.co.uk/international-money-transfer/" target="_blank">Moneyfacts International Money Transfers</a>
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