UK election looks set to send expat pensions into deep freeze
May 20, 2017 01:00
The UK’s Conservative Party has vowed to abandon the so-called triple lock on pensions if they win next month’s general election.
The triple lock ensures that the state pension rises by the rate of inflation, average earnings or 2.5 per cent a year – whichever is highest. If it is removed, the prospect of British expats’ pensions ever becoming unfrozen becomes even more remote.
At least Labour has committed to preserving the triple lock –which gives a point of entry, however slim, to continue applying pressure to unfreeze British pensions in Thailand and elsewhere.
There are credible reports of pensioner suicides in this country as the pound continues to depreciate in value. Things are unlikely to improve as Brexit looms. Labour International (labourinternational.net) is doing what it can in countries across the world to address this injustice.