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10,400 Irish pensioners could get
Brexit ‘hardship’ payments
07.08.17
MORE than 10,000 Irish
residents in receipt of a UK pension and
non-contributory State pension could be in line for
a ‘hardship’ payment after sharp declines in the
value of Sterling since Brexit.
Some 10,250 people here hold British retirement
pensions and qualify for a weekly, means-tested
pension, from the Department of Social Protection.
A further 150 hold a UK pension and are qualified
adults on their spouse’s State pension.
The Department said it would take steps to
“rebalance” the amounts payable to affected
pensioners in the event of a “serious currency
fluctuation”.
It said people would have to apply for the top-up
which will be subject to a “full assesment” of
means.
People in Ireland who rely on modest Sterling
pensions have suffered dramatic declines in their
retirement income since Britain decided to leave the
EU in June 2016.
Before the vote, for example, a weekly pension of
£100 Sterling could buy about 130 euro compared to
today’s value of about 110 euro. That is a loss of
some 20 euro a week or 80 euro a month in retirement
income for those affected.
A Department of Social Protection spokesperson said:
“There are approximately 10,250 customers of the
Department of Social Protection in receipt of
British retirement pensions who are in receipt of
the means-tested State pension, non-contributory,
here. Separately, there are approximately 150
customers, who are in receipt of British retirement
pensions and are qualified adults on their spouse’s
State pension.
“Where requested by the customer and in an effort to
minimise any hardship, the Department of Social
Protection urgently reviews the pension payable in
line with current EU regulations governing currency
conversion rates.”
The spokesperson said, however, that some applicants
may not be eligible for an increase.
“Such reviews involve a full assessment of all the
customer’s means. An increase in State pension,
non-contributory, might not always be warranted when
all the customer’s means are updated and
reassessed.”
The Department, in a Brexit Q&A on its website also
states: “In the event that serious currency
fluctuation should arise, resulting in significant
negative impact for means-tested pensioners, the
Department will take steps to adjust and rebalance
the amounts payable to these pensioners to minimise
the possibility of hardship.”
Meanwhile, there are tens of thousands more
residents here including Border workers and people
on private British pensions, who have also seen
currency-related slumps in their incomes since
Brexit. |
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