It’s a daunting prospect for the thousands of people who worked in the UK

  • It’s a daunting prospect for the thousands of people who worked in the UK
    Independent.t. E.
    In common with many people in this country, my parents worked in the UK in the 1950-ies and 1960-ies.
    https://www.independent.ie/business/personal-finance/this-is-a-frightening-prospect-for-the-thousands-who-have-worked-in-britain-37210620.html
    https://www.independent.ie/business/personal-finance/article35331248.ece/daea6/AUTOCROP/h342/2017-01-01_bus_27333854_I1.JPG

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In common with many people in this country, my parents worked in the UK in the 1950-ies and 1960-ies.

My late father spent 10 years as a radio officer in the British merchant Navy. For this he received a good pension defined benefit plans, when he hit 65. He is also entitled to British state pensions.

My mother, a nurse, did her midwife training in Scotland and worked there when she was qualified midwife. It gives the right of her British state pension. She gets the amount of sterling paid into her Bank account AIB here every month, and we need to file a tax return for this purpose, according to her, every year in November.

There are thousands of people in this country who receive pensions from their time in bars, on the roads, in hospitals, in buses and in offices of England, Scotland and Wales.

It is known that about 120 000 of the Irish in receiving a British state pension.

Many others have the right one, but maybe it’s because they don’t know they can do it.

There are no clear data on the number and receiving private pensions paid to them, which can include both Irish and British citizens.

Now it became clear that leaving the UK poses a threat to these schemes.

Leading pension provider sent to Ireland, members of their warning may no longer be able to make payments to Bank accounts in that country after the UK leaves the European Union, which is scheduled for March next year.

The Association of British insurers have issued similar warnings.

Insurer pension insurance Corporation, explained that currently, with the help of the EU “certification” that allows you to organize a British firm to provide financial services such as payment of pensions abroad, anywhere in the EU.

It advises its members

here to open a Bank account in the UK. But it’s not something that is possible, if you have no address in the UK.

It’s a daunting prospect.

This means that people here can’t have their pension paid into a Bank account in Ireland. Instead, payments will be paid in UK Bank, which they will not be able to access if they have no account in England.

How this problem will affect retired British people living in EU, I hope, a last-minute deal will be made to understand.

Although there was a lot of incompetence shown in the preparation of a British exit from the EU to the UK until now, the feeling just needs to dominate the Internet and some will be done.

It may be that the pension checks will be posted here during the period if the transaction is not done by that time, quarter and month exist.

Now, though, there is no need to panic.

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