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The Federation of European Independent Financial Advisers


The decision by the Bank of England to cut UK interest rates to its lowest ever rate of 0.25 per cent is set to be a blow to expat pensioners, many of whom rely on their savings and investments to meet everyday living costs.

It also means that what savings they have will work even less for them with UK savings accounts bringing in very low levels of interest or no interest at all.  The move will hit millions of British expats who have retired overseas.

Some banks are already paying zero per cent interest on some accounts and the Financial Conduct Authority says that more savers than ever are earning nothing or next to nothing on money in easy access savings accounts. Other banks have indicated that they are considering zero rates too.


Some experts have pointed out that the unprecedented low rate means that it is now the worst time in history to be making a retirement decision in the UK. Those looking to buy an annuity for example could effectively be locked into these super low rates for life.

Pension savers who want to guarantee a retirement income for life have seen annuity rates adjusted downwards at least a dozen times since the UK referendum and it is expected that they will fall even further.

Annuity rates have plunged by about 37 per cent since 2008, and the trend reveals a more marked drop in value for the contracts bought by retirees with their pension pots.


If you are a retired or retiring British Expat then it is imperative that you contact us today to enable us to help you assess the options that you have in relation to your retirement income.

In the first instance one of our retirement planning specialists will get in touch with you to discuss your circumstances, establish your requirements and objectives, and isolate the options at your disposal.  If there is then recommended action to carry out, we will work with you through the entire process to ensure that your retirement income is protected and maximised as a result.​​​​​​​​​​​​​​​​​​​

​​​​​​​This article was kindly provided by Alan Turner of Forth Capital and originally posted at: ​​​​​​​​​​​​​​​​​​/​​​​​​​​​​​