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Three British expats reveal their nightmare experiences of having their UK pension frozen, thanks to a government policy that leaves them with unadjusted savings, sparking widespread outrage.
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Three British expats reveal their nightmare experiences of having their UK pension frozen, thanks to a government policy that leaves them with unadjusted savings, sparking widespread outrage.
David McConkey believed he was heading for paradise when he retired to Bangkok in May this year. After 40 gruelling years as an electronics buyer, the 72 year old Scot was ready to bask in the sun, sandy beaches, and exotic cuisine of his favourite city. But his dream retirement turned into a financial nightmare when he discovered his UK state pension had been frozen.
Despite decades of hard work and contributions, McConkey has been blindsided by a policy affecting 500,000 British expats. Unlike their counterparts in the UK, who enjoy annual increases through the triple lock system, expats like McConkey are left stranded with pensions stuck at their current rate.
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