CyprusLiving

And it is far better than the European pension you would have received in the future if the vote had been to Remain where the pension pots are to be pooled. See the Five Presidents Report.

clive of payia wrote:And it is far better than the European pension you would have received in the future if the vote had been to Remain where the pension pots are to be pooled. See the Five Presidents Report.

Which page (of the 24 pages) is that information on?

https://ec.europa.eu/priorities/sites/b ... ort_en.pdf

Firefly wrote:I well remember parity a few years ago, that was bad, and without Brexit

Jackie

So do I but this drop is directly related to the Brexit, nothing else.

clive of payia wrote:And it is far better than the European pension you would have received in the future if the vote had been to Remain where the pension pots are to be pooled. See the Five Presidents Report.

I have no knowledge on these subjects , but does this joining of pension pots only apply to countries that use the euro ?

Initially only applies to euro zone countries, but a Remain vote would have given the unelected in Brussels the green light to include non-euro countries in this foul scheme. For expats in the Europe they may well have made us adopt the OAP of the country we live in - now aren't you glad we left?

Jim B

So in or out makes no difference then.

Jackie

clive of payia wrote:And it is far better than the European pension you would have received in the future if the vote had been to Remain where the pension pots are to be pooled. See the Five Presidents Report.

Sinbad wrote:I have no knowledge on these subjects , but does this joining of pension pots only apply to countries that use the euro ?

I'm still waiting for clive of payia to tell us where we can find that particular info in the Five Presidents Report he mentions:
Which page (of the 24 pages) is that information on?

https://ec.europa.eu/priorities/sites/b ... ort_en.pdf

Firefly wrote:Jim B

So in or out makes no difference then.

Jackie

Leaving the EU is causing the fall with the pound against the Euro and the Dollar though I'm sure you are well aware of that.

The Five Presidents Report hides many unpleasant shocks for everybody in the EU. The CMU mentioned in the 5 Presidents Plan is better explained by the following:

http://www.express.co.uk/finance/city/6 ... gging-Euro

Thank God we are leaving.

Jim B, the Pound may have fallen against the Euro and the Dollar, my point STILL is that the fall was more serious when we were IN the EU.

Jackie

But there was no other cause and effect in this fall in the pound except the Brexit and that is the difference.

Jim B

I voted for Brexit, and would do so again tomorrow, nothing on this earth will change my mind, I remember the UK before the EU, and it was a better place than it is now. Hopefully we will put back some 'British' into what we forfeited by joining the EU. I believe that the Pound will go from strength to strength in the future, if only the government would get on with the 'leave' process. We will just have to agree to disagree.

Jackie

From what I saw yesterday the pound was close to 1.20 to the euro having been below 1.18 a couple of days ago.

But this afternoon is back below 1.18 following the interest rate cut. One step forward, two steps back.

Now: 1.00 GBP = 1.18210 EUR

Well I was getting 1.1495 yesterday when I had to use my uk debit card to pay for an item in Limmasol yesterday; that is the current exchange rate being given by JJC which is better than that given by UK Banks unless you are changing large sums of money.

Of course if the exchange rate doesn't actually affect you then it is a case of "I'm all right Jack" though actually living in Cyprus and having had to transfer a large amount of money recently I've had to add an additional 10% or thereabouts of pound sterling to cover the same costs, money I could have put to better use rather than fill the pockets of speculators.
And I also remember Britain before joining the EU, pretty bleak where I came from but then again nostalgia isn't what it used to be and who would want to go back to those times

Down again: 1.00 GBP = 1.17832 EUR

Sorry for the bad news Jim B

However, it's this recent interest rate cut on top of everything else had made it take a nose dive today.

The lower the better for me! I need to buy GBP each month, not euros - was pleased when it was 1.05 a while ago, but that was before brexit of course.

Digby

JimB

We also have been in your position in Cyprus, and when we bought for the second time there, the Pound nose dived to parity, (the UK being IN the EU), that cost us very dear I can assure you, so it's not a matter of 'I'm alright Jack'. We lost a considerable amount of money buying and selling in Cyprus, lesson learned, don't.

Jackie

Jackie

In 2003 when the exchange rate dropped from C£00.87 to C£00.67 in a matter of weeks I lost a considerable amount of money when buying our house so I would guess we've all be been there but the present drop is affecting a lot of people and there was no need for it. Presently I just spend more to stand still but there are many who can't do that and are seeing their standard of living drop for something that may or not happen at the end of the day.
Holitec is one of a very small minority who is actually benefitting, most British living in EU countries are living on a fixed income paid out of the UK and if there is any benefit to come from a Brexit most of us will be long dead before they arrive.

And the last point raised by Jim B is exactly why many of our aged friends here said people over 75 should have been excluded from the vote on this occasion and those a couple of years younger than the "normal" voting age included - because some would be very much more affected than others....

Yes I agree with you JimB remember Digby without us Brits living here you would probably not need to over worry about the exchange rate, do remember many of us live off UK state pensions, now devalued again and worrying for those like myself who live and die on UK exchange rate of their pension money each month, something you should consider Digby.. most of us do not have a job now.

Julie what sort of friend of yours said that, are they mad of course they should have voted it probably effects ex-pat pensioners more than any other group on the island, best to remember we are still in the EU here, not doubt this will always be the case, also it should be noted almost as may Cypriots live in the UK than those who live in their homeland.Yes hard to believe..

Obvious I think but I voted to remain, (as I am funny enough) but I have excepted the decision now, just hope the UK Pound stabilizes.

As for those pathetic UK Bank interest rates you may as well buy property, rent it out the interest from that will make the Banks interest a serious joke. but happy not to be renting..and in Cyprus as hot as it is....

No - it wasn't a fiddle but rather the votes being taken by the people who it will have more of an impact on. Given the fact it's likely to take 2 more years before Brexit even takes place, how many of those 75+ folks will be in a position to be worried about it.

I actually thought those "oldies" (to get old Julie you have to get there first, never count your chickens life told me) were being rather unselfish with their views - rather than fiddling as you put it

julieswell,

You make the assumption that Brexit will be a mistake in the long term and the youth of today will have to suffer the consequences. If, in the long term, Brexit turns out to be a good thing for UK will you come onto this forum and admit you got it wrong. As it is, neither you nor I know what the future holds.

Most of us will be long gone before any benefits to the UK will be forthcoming and then you are only guessing, what is real is the pound sterling's fall, for those living on Cyprus with a UK pension is of real concern, we do not all have jobs abroad and why this forum is called CyprusLiving and the concerns for those of us that do..Not the UK.