Following a question from committee chairman Hilary Benn in which she sought to confirm the situation, ABI director general Huw Evans said it was a “perfectly plausible risk in the future if no agreement is reached in some countries of the EU” that “pensioners couldn’t be paid their pension”.
Evans offered some reassurance saying that expats’ financial advice in the event of a no-deal Brexit would depend on where they resided. ‘It’s important to note here to avoid panic that each country of the EU has slightly different arrangements around this.”
He advised that each country would have to address the issue separately to ensure that it was satisfactorily resolved.
The comments come in the wake of a difficult period for British Prime Minister Theresa May who has sought to defend her Chequers plan in the face of resignations from her cabinet, numerous reports of internal infighting and near constant press reports of setbacks and troubles.
So it’s worth remembering that although financial advice for expats worried about Brexit is a good idea in the current environment, there is certainly less cause for panic than many believe to be the case.
In her blog, Rosemary Sheppard suggested that there will be some simple solutions to any potential problems arising out of Brexit in relation to expat pension rights.
Blacktower Director and General manager in Gibraltar Robert Mancera comments, “At the end of the day, Hard Brexit or not, common sense will need to prevail. Most EU countries have DTTs (Double Tax Treaties) with the UK and I can’t see these falling away as a result of Brexit. Therefore pension income received into the EU from the UK, I anticipate, would be taxed as it is today.”
Expat financial advice from Blacktower
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This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
There are so many options when it comes to 
Over the years, the trend for South African nationals to seek out new lives and experiences in Portugal has continued to grow and grow; I myself made the move back in 1988 as a fresh-faced economics graduate from Witswatersrand University in Johannesburg, and I’ve never looked back. It’s easy to see the appeal for South Africans – the year-round sunshine and vast expanses of Atlantic coastline are a familiar part of daily life, just as they are back home – but the secure location and easy access to the rest of Europe is something really special. Being as there’s over 11,000 KM of distance between the two countries, a mere 12 hrs by plane give or take, there are going to be some big differences in the way of life, even if there are those obvious similarities. It’s probably advisable for any emigrant to arrive armed with a willingness to accept how things are done in their new home country rather than try to carry on as before and hope for the best. This is never more true than when dealing with your finances.