BRITISH expats could benefit from a proposed cross-border pension agreement.

The Europe-wide deal would cut out costly pension transfer charges.

The Officially Certified European Retirement Plan (OCERP), would be strictly regulated to help protect consumers.

“The creation of the OCERP would help overcome the current fragmentation of the European pensions market,” said Peter de Proft, director general of the European Fund and Asset Management Association.

“And thus improve the cost effectiveness of these products and their portability between member states.”

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