Pension Parity Makes Economic Sense

An interesting observation in a report calling for UK pensions to be throughout the world as they are in the UK and the European Union. Goodness knows how many who could live in Commonwealth countries on retirement but have no wish to jettison their state pension. But, it is estimated that each retired person who does so saves the struggling archaic NHS £7,000 per year. A strong argument in favour of pension parity.

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It's the countries that don't have an agreement with UK to pay their citizens pensions that is the problem..For example, outside the Commonwealth, the USA gives its citizens annual increments if they live in the UK therefore the UK gives its citizens living in the USA annual rises. Australia, on the other hand, doesn't so retired Australians living in the UK rely on the British welfare system. EU citizens get annual increments so they don't rely on the UK to make up the difference so UK implements the same to its citizens living anywhere in the EU. All well and good saying British pensioners abroad should get the annual increases but the UK would then be paying them plus the foreign citizens who don't get increases from their own country. Exactly the same with medical care except that Britain gets screwed every which way but loose. Not only does it provide free medical care to all and sundry but pays other countries thousands a year to treat British pensioners. It may seem unfair on people who move to countries without a reciprocal agreement but, last time I looked, Britain was broke. To expect it to fund everyone is a bit like trying to plug a leak in a bucket with a piece of kitchen towel.
Maybe a better idea to get those other countries to look after its own citizens and then think about doing the same.

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