Up to date Budget by George Osborne and the government has brought lots of changes and reforms to sectors across the economy.

One of them changes is raising the state pension age automatically in accordance with life expectancy and replacing the current means-tested system with a flat £140 weekly pension for all of the retires.

But an expat has stated that the Budget has failed frozen-out pensioners and is adamant that British retires living in poverty abroad for example in a British Virgin Island Company are not assisted.

500,000 or so British OAPs living overseas, for example in an Offshore formations, don’t have inflation-proofed pensions.
Simply because there aren’t mutual social security deals, their pensions are being frozen the moment they begin drawing them abroad. In certain serious cases, the pensioners are surviving on as little as £6 a week.

One pressure group, known as the International Consortium of British Pensioners (ICBP), have been campaigning for the unfreezing of expat pensions for more than 20 years.

A current survey has shown that half of all 45-64 year olds in the UK are thinking about moving abroad.

There are 146 ‘frozen’ countries in which you will find Offshore company registration across the globe.

Those people who are contemplating emigrating abroad would be wise to look at the result the move could have on the future state pension entitlement.

It has been approximated that uprating frozen pensions would cost the government £478 million a year; around one per cent of the all round pensions budget.