Pensioners will take TRIPLE hit if Britain leaves the EU, David Cameron warns

David Cameron

David Cameron

The Prime Minister, who is in Japan for the G7 summit, will say that pension funds would be damaged by the economic ‘shock’ of Brexit

Pensioners will take a triple hit if Britain quits the EU, David Cameron warns today.

Pension funds would be damaged by the economic “shock” of Brexit, the Prime Minister, who is in Japan for the G7 summit, says.

A weakened economy would also raise the cost of living, so any retirement income would not stretch as far.

And carers would be in short supply if visa and residency rules are changed, keeping skilled foreign workers away.

In an interview with Saga magazine, Mr Cameron says Brexit “would put pensions at risk”. He adds: “Even those who want to leave accept there’d be an economic shock. We owe it to all those who’ve worked hard and saved all their lives to find dignity in retirement.

“A strong economy is also vital to pensioners – it keeps the cost of living down and makes sure they get returns on their investments. A Leave vote puts all that in jeopardy.” Uncertainty over visa and residency permit issues for the 100,000 skilled EU workers in the UK care industry could cause some to return home, he added.

Read more: Vote leaves: Nigel Farage battered by branch on Brexit battle bus

Vote Leave chief Matthew Elliot dismissed the PM’s fears, saying: “The value of pensions depends above all on the fundamentals of the UK economy.”

World Trade Organisation boss Roberto Azevedo yesterday suggested that additional tariffs on imported goods if we leave the EU could cost consumers £9billion.