Question to the HM Treasury:

To ask Her Majesty’s Government what assessment they have made of the impact of the devaluation of the pound sterling since June 2016 on the financial wellbeing of retired UK citizens living in (1) the EU and (2) the rest of the world.

The Government does not comment on currency movements.

To support people in retirement, the Government has increased the basic State Pension to its highest proportion of average earnings for 25 years. The annual index-linked increase was paid to eligible UK State Pension recipients living within the European Economic Area, Gibraltar, Switzerland, and countries that have a social security agreement with the UK that allows for cost of living increases to the State Pension.