The UK govt and the contracted Pensions payer/handlers have major exchange rate buying power, and are therefore able to give towards the top end of the market exchange rates. Remember its not just State Old Age pensions that many people have paid direct, but all manner of other Civil Service Employment and HM Forces pensions all involved - and of course not just to Euroland but also to Dollar land, who I guess will be seeing an increase! And of course the Govt still has large numbers of people in Govt/Military posts across the World that are paid at those rates.
Drip ye not.
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