Finland to Pay Pensions to U.K. for One Year After Hard Brexit
Finland to Pay Pensions to U.K. for One Year After Hard Brexit
(Bloomberg) --
Finland will continue to pay out state pensions to recipients residing in the U.K. for up to one year after the country’s withdrawal from the European Union, in the event of a no-deal Brexit.
The so-called protection period already applies to recipients who move outside the EU. Extending such a measure to the U.K. is part of Finland’s preparations for a so-called hard Brexit, the Ministry of Social Affairs and Health said in a statement Thursday.
The Finnish state paid an average of around 105 euros ($116) in pensions to 320 recipients residing in the U.K. in 2018.
To contact the reporter on this story: Kati Pohjanpalo in Helsinki at kpohjanpalo@bloomberg.net
To contact the editors responsible for this story: Tasneem Hanfi Brögger at tbrogger@bloomberg.net, Nick Rigillo
©2019 Bloomberg L.P.