As the fight for justice goes on for expats who have frozen British pensions continues, more and more factors add to their growing dilemma. Euro’s recent decline in value, for example, has caused these expats to feel a substantial blow while those in different Euro zones have immensely enjoyed their buying power as their pensions continuously increased in value.
The worst part is countries that have become most popular with British expats have also seen the biggest increase in their currency’s value against the British pound which makes those with frozen British pensions almost powerless, with their funds remaining stagnant at their initial value. This has forced a lot of them to consider moving to other countries where their pension would receive the growth that it deserves, or worse, go back to the UK.
As for the Prime Minister, he has expressed his sympathy with those whose pensions remain frozen. This does not mean, however, that any changes are to be seen soon. This comes from Sir Roger Gale, the Conservative MP, who sat down in a meeting with PM David Cameron to discuss possible actions to help those who are affected.
The MP has pointed out that considering the length of time that most of these expats have been trying to make ends meet with the little amount that they receive, they might not survive that long. This caused him to push for urgent action although no positive light is still seen up to now.
The governments of Australia and Canada have shown full support to the group that is lobbying for change as these countries remain home to most of the expats affected. Both governments have expressed that every single meeting they have had with the British government has always ended up with the issue being raised and that they will not stop doing this until a fair decision is finally made.