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DWP claims it will cost £500m to ‘unfreeze’ expat pensions

31 October 2018

Uprating of expat pensions bound by legal requirements in the country to which person has retired

The UK’s Department for Work and Pensions (DWP) has confirmed to International Adviser that it would cost £500m ($640.9m, €562.7m) to reverse the frozen pensions of British expats around the world. A DWP spokesperson said: “The policy on paying and uprating UK state pensions abroad has remained consistent for around 70 years under successive governments: the UK state pension is payable worldwide to eligible people but is only uprated abroad where there is a legal requirement to do so.

“If all UK state pensions paid overseas were...

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UK firms poised to move jobs and production – CBI Survey

23 October 2018

Increasing numbers of UK companies are drawing up contingency plans to move jobs and production abroad because of uncertainty surrounding Brexit, according to a survey by the Confederation of British Industry (CBI).

The survey of 101 large companies and 135 SMEs found the majority planned to begin implementing their contingency plans by December unless greater clarity emerged over a post-Brexit deal.

Publication of the survey came after a warning from Nicky Morgan, the Conservative MP who chairs the Commons Treasury Committee, who said the current impasse in negotiations was doing “tremendous damage” to banks and other financial services in the City of...

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Can you get a $21K pay rise by moving abroad?

11 October 2018

As Ireland’s economy struggled in the wake of the global financial crisis and people were left wondering how they could keep up with their mortgages, Sorcha Coyle took the plunge and moved to the Middle East.

It wasn’t just the idea of a new challenge that the teacher found exciting, but the fact that by working overseas she would be in a better position to reach the financial goals she’d set herself than if she stayed at home.

“I’d been in Ireland during the recession and was surrounded by family and friends who had lost their jobs, weren’t able to pay their...

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Unilever: UK's third biggest company scraps plans to move HQ from London to Rotterdam

08 October 2018

Unilever, Britain’s third biggest company, has abandoned plans to move its headquarters out of the UK amid mounting opposition from investors.

The Anglo-Dutch consumer goods giant said it was scrapping proposals to consolidate its corporate structure in the Netherlands.

The announcement on Friday followed weeks of pressure from major shareholders in the company, which owns household brands including Marmite, Dove and Ben & Jerry’s.

In a statement, Unilever said: “We have had an extensive period of engagement with shareholders and have received widespread support for the principle behind simplification. However, we recognise that the proposal has not received support from a significant...

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