New Canadian Media

How Brexit is Hurting UK Pensioners in Canada

Written by  Brits in Toronto Tuesday, 26 July 2016 10:39
Rate this item
(0 votes)

I was talking with my good friend James (real person, but name changed) the other day and he wasn’t very happy. But first let me tell you a little bit about James. He has spent his whole retirement living here in Ontario — he is 83 and first started drawing his UK State Pension in 1990.

At that time he was paid £46.90/week, which in those days meant he was getting about $90/week; this was when gas cost 59 cents/litre, and a loaf of bread cost just 70 cents.

Today, because of the UK’s “frozen” pension policy, James is still getting £46.90/week, which immediately after the Brexit vote converted to $79/week — the British pound instantly fell 18% against the loonie. Meanwhile the cost of gas has gone up to 94 cents/litre ($1.15/litre in Western Canada), and a loaf of bread is now nearly $3. How can anybody be expected to live on 80 bucks a week?

Brits in Toronto

Read Full Article

Poll Question

Do you agree with the new immigration levels for 2017?

Yes - 30.8%
No - 46.2%
Don't know - 23.1%
The voting for this poll has ended on: %05 %b %2016 - %21:%Dec

Featured Quote

The honest truth is there is still reluctance around immigration policy... When we want to talk about immigration and we say we want to bring more immigrants in because it's good for the economy, we still get pushback.

-- Canada's economic development minister Navdeep Bains at a Public Policy Forum economic summit

Zo2 Framework Settings

Select one of sample color schemes

Google Font

Menu Font
Body Font
Heading Font

Body

Background Color
Text Color
Link Color
Background Image

Top Wrapper

Background Color
Modules Title
Text Color
Link Color
Background Image

Header Wrapper

Background Color
Modules Title
Text Color
Link Color
Background Image

Mainmenu Wrapper

Background Color
Modules Title
Text Color
Link Color
Background Image

Slider Wrapper

Background Color
Modules Title
Text Color
Link Color
Background Image

Scroller Wrapper

Background Color
Modules Title
Text Color
Link Color
Background Image

Mainframe Wrapper

Background Color
Modules Title
Text Color
Link Color
Background Image

Bottom Scroller Wrapper

Background Color
Modules Title
Text Color
Link Color
Background Image

Breadcrumb Wrapper

Background Color
Modules Title
Text Color
Link Color
Background Image

Bottom Menu Wrapper

Background Color
Modules Title
Text Color
Link Color
Background Image

Bottom Wrapper

Background Color
Modules Title
Text Color
Link Color
Background Image
Background Color
Modules Title
Text Color
Link Color
Background Image