Brexit, the £ and the €: a pensions nightmare

Pensioners on the Costas are getting a lot less cash because of the falling pound

AS ANY British pensioner will tell you, the drop in the value of sterling is taking its toll.

Since June, when the pound slumped 15 per cent against the euro, a monthly pension of £500 has lost around €100 after conversion. With £1 buying around €1.11 last week, income from a UK state pension in Spain has fallen by more than a fifth from its most recent high of €1.43 last November.

Read more in this week’s print edition or go to e-paper

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