18 November 2008
The one million British pensioners who live abroad will be hit
hard by the plummeting value of the pound, which is likely to fall
even further, according to a leading investment bank.
J P Morgan forecasts that the pound will drop a further 13 per
cent against the dollar and 8 per cent against the euro as foreign
investors shy away from sterling.
Those living in Europe have already seen their average monthly
pension plummet by almost 200 euros a month (£169) because of
market moves, a collective loss of more than 4 billion euros
(£3.4 billion) of their income in the past two years.
