From the Telegraph:
Pension payments to expat Britons in Cyprus will be suspended until the island's parliament votes on a proposed savings levy drawn up as part of a bail-out package, MPs have been told.
Greg Clark, a Treasury minister, said payments due today had been frozen to ensure that money from the Government reached its intended recipient.
Payments will resume once the situation becomes clear, Mr Clark said, adding that it is possible to change the designated bank account online.
Mr Clark told MPs the situation in Cyprus remained "fluid" in the wake of the bail-out proposals from the eurozone over the weekend, aimed at preventing the country's banks from going bust.
Making a Commons statement, Mr Clark said: "Today is a bank holiday in Cyprus and to ensure any payments made by the Government to banks in Cyprus get to the intended recipient, all future pension payments paid by the Government to British citizens in Cyprus will be temporarily put on hold until least tomorrow.
"This allows us to take stock of developments in Cyprus. Any UK pensioners in Cyprus can be assured their future pension payments are being held safely and the normal payment service will resume when the situation in Cyprus becomes clear.
BM........
