Pensions 'safe' in Cyprus crisis

Press Association
Laiki Bank
Laiki Bank

Several thousand expat Britons with Cypriot bank accounts will have their pension payments frozen until "at least" Tuesday to ensure they receive them ahead of a proposed bank deposit tax, Treasury minister Greg Clark has said.

He told MPs the Government was putting pension payments on hold to "ensure that any payments made by Her Majesty's Government to banks in Cyprus get to the intended recipient".