Swings and roundabouts really... for those of us on UK pensions either State or Private or both, the 'improvement' in the exchange rate means a real increase in income. The increase in IVA is highly unlikely to gobble up all of the increased income; what might just do it though is the near 5% increase in electricity charges... also for those of us that smoke and/or drive he increase is likely to be noticeable because as with the UK IVA is added to a product that is already taxed.
As an example compared with January my pensions have increased by 180€ per month, in part due to annual pension increases and in part by the improved exchange rate.
However just to keep the whole thing in context, when I first started keeping records back in 2007, I was not receiving the UK state pension but the exchange rate at the time (£1=1.6€) meant that I was actually getting the same amount as today including the full State pension... so taking it to it's logical conclusion, I am actually around 900€ worse of now than in 2007...!
Funny old world isn't it though... back in 2007 the exchange rate of £1=1.6€ didn't ring alarm bells with anyone... then it slowly deteriorated to roughly parity and now its picking up again but at £1=1.26€ suddenly its the end of the world, the end of the Euro....
Give me strength....!
This message was last edited by foxbat on 13/07/2012.