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14 Apr 2018, 20:28
I was asked by a colleague, who has worked in U.K. for 10 years, what happens to their u.k. state pension on returning to Poland. I understand young Poles are going back as economy is booming.
17 Apr 2018, 06:49
Link doesn't work - you need to pay a subscription to read it.
As I understand it, at present people can claim their State Pensions when they reach their relevant State Retirement age if they have moved abroad. But they only get the annual uprating increase if they are living in the EU or another country with a reciprocal agreement.
It's not clear at present whether people who move to a EU country will still get any annual increase after UK leaves the EU. That depends on the Brexit negotiations and whether we remain in the European Economic Area.
17 Apr 2018, 07:37
As you said the link did not work although I was able read the FT article without subscribing.
What happens to overseas workers’ UK pensions after Brexit?
The state pension rules have changed recently, but for your purposes, there is little to worry about. The new version of the state retirement plan says that you qualify if you have worked and paid national insurance for 10 years or more. This does not have to have been ten qualifying years in a row.
The amount you receive will be based on the number of qualifying years at the point you retire. You can find out how much state pension you may get by requesting a state pension statement from the government’s website
As the rules currently stand, if you are a national of an EU or EEA member state you only have to apply for your state pension in the EU country where you last worked before retiring. The pension offices of all EU member states will then exchange their information on your employment history within the EU and calculate your full pension based on this data.