United Kingdon Retirement Question

[Thomas]

Thanks Thomas. Maybe what you wrote is the reason why few Swedes retire abroad.    Spain remains the top destination for retirees from the United Kingdom.

Lots of coastal Spain, terribly over built and spoilt by invasion of expats from the Northern European countries.

Yes. There are rather many Swedes retiring in Spain, but

less "punishment" when retire within European Union

and I suppose they belong to the upper half concerning personal economy, so they aren't punnished as them with lower retirement pay and higher subsidity if staying in Sweden.

 

But there are rather many Swedes living in Thailand with PREretirement pay because of some disability. I don't know if they live there official or not.

Edited July 3, 2013 by Thomas

[Curley]

Well this is news to me, I had assumed that as the Phils is outside the EEC that if I lived there I would have my pension frozen, another thing learnt from this forum, thanks.

[Thomas]

Well this is news to me, I had assumed that as the Phils is outside the EEC that if I lived there I would have my pension frozen, another thing learnt from this forum, thanks.

/Well. - Except the subsidies from taxes, which some get - the pensions are DELAYED SALARY. (=Money is taken from your salary/income, but in many countries it isn't shown as that for employees, because it's a part of law told fees, which employers have to pay for their workers, but it reduces the salaries by these fees make the employer can pay less salaray. At these fees are no tax paid, because it's paid when we get the delayedc pay through retireement pay.  

/Above is the basic "ment" situation, which still is like that in PRIVATE retirement insurance fees,

/BUT in many countries the governments have made kind of "CHAIN LETTER" solutions, which are not allowed for private to do in many countries. (=The first ones in line get pay by the fees the later arriving pay, and then the later arriving get pay from them more later arriving - IF the later ones agree to pay...) This functions as long as the later arriving agree to and can manage to pay. This starts becoming a huge problem in developed countries, because the retired group gets biger and biger compared to the working group. This made the Swedish prime minister started talking about raising the retirement age to somewhere OLDER than 70. The recently changed Swedish retirement system raised the retirement age, but not as much as the prime minister had talked about. (I don't remember what they raised it to, because I'm lucky being the latest birth year geting the old rules - IF they don't change it again, before I reach retirement age   :)

[JJReyes]

For US Citizens one of the drawbacks of the SRRV is that the $10,000 USD deposit puts you over the limit that requires you to do an annual financial report to the IRS for your foreign financial assets.

 

The PRA is aware of the problem. This is the reason why certain retirees will be able to apply for the SRRV Courtesy Visa. The deposit is reduced to $1,500 and they can withdraw the $1,500 later as part of their payment towards the purchase of a condo or long term lease for a single family residence. The first group are US military retirees. Another group being considered are retirees with advance degrees. The annual renewal fee is $10. The application fee of $1,400 remains.

[brock]

Curly, As far as I am aware the state pension is Frozen...

 

Those who have retired to the EU or more than 20 other countries – including the United States and Mauritius – see their state pension increased each year. But anyone who has moved to countries such as Australia, Canada, South Africa and a 100 more places has their pension frozen at the rate it was paid when they leave the country.

 

 

http://www.independent.co.uk/money/pensions/expats-call-for-fairer-pension-payouts-8659717.html

[Papa Carl]

There is a reciprical agreement as I have referred to in another thread.

 

Here are some additional sites for information

 

http://www.pensionsadvisoryservice.org.uk/state-pensions/living-overseas

 

 

http://www.qropschoices.com/pension-expat/?bc_ppc=qropsbenexpfreetransfersearch&bc_keys=philippinesqrops&gclid=COr02avH4bcCFdBV4god0VgArQ#inner

 

 

Papa Carl

[earthdome]

 

For US Citizens one of the drawbacks of the SRRV is that the $10,000 USD deposit puts you over the limit that requires you to do an annual financial report to the IRS for your foreign financial assets.

 

The PRA is aware of the problem. This is the reason why certain retirees will be able to apply for the SRRV Courtesy Visa. The deposit is reduced to $1,500 and they can withdraw the $1,500 later as part of their payment towards the purchase of a condo or long term lease for a single family residence. The first group are US military retirees. Another group being considered are retirees with advance degrees. The annual renewal fee is $10. The application fee of $1,400 remains.

 

 

That is good news. I seriously considered applying for an SRRV but have held back due to issues like this. If I become eligible for the SRRV Courtesy VISA I would apply the following day.

[FredM]

For those thinking of retiring and having a UK pension sent to the Philippines there is a UK Government website that calculates your entitlement to the state pension. It also tells you what extra payments you may need to make to obtain full entitlement.

Just remember that they reply only by post so you need to have a solid postal address.