Expats “currently enjoy a range of specific rights to live, to work and access to pensions, health care and public services that are only guaranteed because of EU law. There would be no requirement under EU law for these rights to be maintained if the UK left the EU,” stated the government report.
“If the UK were to leave the EU then the UK government would need to disentangle the regulatory framework from EU law for the financial sector. Regardless of the exit negotiations outcome this would be a large and complex task,” it added.
As it stands, EU law accounts for most of Britain’s legislative framework, with many laws transposed from EU directives – this means that that should the “No” vote win in June, the need for sound and promptly delivered expat financial advice may be greater than ever before.
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In true form, the ending of Theresa May’s last-minute snap election ended in a rather unexpected hung parliament, with the Conservatives planning to team up with Northern Ireland’s DUP party to form a majority government.
The Government has revealed that the proposed annuity flexibility plan which was announced in April 2015 – along with all the new pension flexibility changes that are now in force – is not going to go ahead.