Pensions - Articles - DWP confirm boost for pensioners in EU and Switzerland


UK state pensioners currently living in the European Economic Area (EEA) and Switzerland will continue to have their pensions increased annually. Under the terms of the Withdrawal Agreement, UK state pensioners living in the EEA or Switzerland by 31 December 2020 will continue to have their UK State Pensions increased annually, in line with those in the UK.

 Currently, the basic State Pension and new State Pension are increased by the “triple lock” mechanism, which ensures they will rise each year by the highest of either 2.5 per cent, the rate of inflation or average earnings.

 People will get their UK State Pension uprated even if they claim it on or after 1 January 2021, as long as they meet the UK State Pension qualifying conditions and those of the Withdrawal Agreement.

 Also under the Withdrawal Agreement, EEA citizens and Swiss nationals living in the UK can continue to claim benefits on the same terms as now, for as long as they remain lawfully resident and eligible.

 The Immigration and Social Security Coordination Bill will ensure the UK can set new rules on benefits and social security. Entitlement for EEA citizens and Swiss nationals arriving in the UK from 1 January 2021 will be aligned with that of non-EEA/Swiss citizens. Non-EEA/Swiss citizens can usually access most benefits after they have been living in the UK for 5 years.

 Additional information about the Withdrawal Agreement

 the European Union (Withdrawal Agreement) Act confirms these protections in UK domestic law
 these protections will apply regardless of whether any agreement is reached on coordinating social security with the EU for the future
 the position of those who do not fall within this group will be covered by the future relationship with the EU, which is yet to be negotiated
 read the UK state pension qualifying conditions
 full access to the UK benefit system will only be available after settled status is granted, typically after 5 years

 For more information on benefits and pensions

 UK nationals in the EEA or Switzerland
 EEA and Swiss citizens in the UK

Back to Index


Similar News to this Story

Wish list for the occupational pensions industry in 2025
As one year closes and another begins, it's an opportune moment to set our sights on the future. The UK occupational pensions industry faces nume
PSIG announces outcome of Consultation
The Pensions Scams Industry Group (PSIG), which was established in 2014 to help protect pension scheme members from scams, today announced the feedbac
Transfer values fell to a 12 month low during November
XPS Group’s Transfer Value Index reached a 12-month low, dropping to £151,000 during November 2024 before then recovering to its previous month-end po

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.