Expat pensioners have an income this Christmas which is worth 20 per cent less than the previous pre-Brexit festive period, according to Equiniti which manages the payment of over 60,000 expat pensioners.

Of these 60,000 pensioners the largest group is receiving their pension in the Eurozone where uncertain Brexit negotiations have led to the value of their pension falling by over 3 per cent in the last year, added to the 17 per cent fall in the year following the vote.

“Expat pensioners are always at the behest of the currency exchange rollercoaster and the stumbling Brexit negotiations are not doing them any favours,” Equiniti operations director Andy Brown said.

“Anyone hoping to retire abroad will have had plans seriously derailed by the Brexit vote and the currency fluctuations. It is important to understand the implications of currency exchange rate movements on your budget and shop around for the best value international payments as the ‘headline’ exchange rate is not necessarily an indication of the total cost of the transaction.”

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