The main changes, which come into effect from January 1, 2022, affects whether a person qualifies for a state pension or not. Under the new rules, UK citizens living in Australia (before March 1 2001), Canada or New Zealand will no longer be allowed to count the time they spent abroad as part of the qualification period for their state pension. At present, expats in these countries can still get National Insurance credits while abroad, however the rule change will put them in the same group as most other countries – meaning the period abroad won’t count towards their retirement pot. “The recent changes to state pensions serve as a timely reminder that you have to put a comprehensive financial plan in place if you’re intending to retire abroad,” he said. “He said regardless of your pension, expats should ensure they have a financial buffer to cover them in unforeseen circumstances.

Source: Daily Mirror May 12, 2021 13:59 UTC