Pension payments suspended for expats in Cyprus

The suspension will remain in place even as banks re-open following a near fortnight enforced closure. Pension Minister Steve Webb announced that his Department’s present advice to British recipients of pension payments is to either arrange for pension payments to be switched to a British account already held or make arrangements to open a new account. Webb’s statement confirmed that HM Treasury has worked with Barclays to put in place a process so that affected individuals can open a bank account quickly if they wish to do so. This latest decision to put pension payments on temporary ho...