US and Canada residents claiming Irish State pension hit with extra charges Pensioners charged €11 on each payment due to change in department’s banking provider
about 2 hours ago
Recipients of the Irish State pension living in the US and Canada have experienced a sharp increase in the cost of receiving their benefit, due to a change in banking provider by the Department of Social Protection.
The move follows a switch by the department from Bank of Ireland to Danske Bank, a process which is ongoing, following the Government’s decision in 2017 to tender for a single banking service for all Government departments and offices.
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Sterlingâs vaccine-fuelled rally against the euro is beginning to look relentless.
The pound has extended its longest winning streak in five-and-a-half years, rising for a ninth straight day, after the Telegraph reported the UKâs exit from lockdown could be accelerated if data on the effect of vaccines prove better than expected. Thatâs adding to optimism that the UK will bounce back faster than its European peers.
âThe mighty pound is rising like a phoenix,â said James Athey, a fund manager at Aberdeen Standard Investors. âThe UK economy is heavily domestic- and service-focussed which means it will benefit to a greater degree from reopening,â he said, adding that money flowing into the stock market is also a factor, with UK equities among the cheapest in developed markets.