Retiring Abroad, options?

Johnny_Doe

Afternoon all,

For many years I have wanted to escape the UK (various reasons I'd rather not go into) and retire abroad where I get more "bang for my buck" and can retire earlier on less of a pension. (I'm 49 looking to retire at 55, if not sooner)

I have checked many countries, including, US/Canada/EU inc France, Sweden, Spain/Philippines/Vietnam/Thailand but there appears to be no option that fits all the criteria! I'm can compromise on the weather (especially Canada as I can travel across to the US for a few months of the year) but no index linking SP is a no go (unless I can find a property at least £100k less to make up for the loss of pension earnings..?

Main Criteria:

1. Index linked state pension
2. Good healthcare
3. Cheap housing (Canada and France have some real bargains!)
4. Generally a better cost of living than the UK..
5. English speaking ideally but can compromise (ie France)

Brexit has produced a "curveball" in that I'm not sure where index linking SP will end up and cant find much info on this online?

US is SP index linked but almost impossible to retire to unless you invest £1 million dollars in a local business!! Where's the "special relationship??

Canada would have been perfect but they don't support SP index linking!

Philippines seems to fit most criteria (supports SP index linking) but I have concerns over healthcare outside Manila.. many speak English so that's good.. and cost of living is good.. but my overall gut feeling isn't quite there as some areas are a bit 3rd world, same with Vietnam.. Thailand doesn't index link either..

Options seems to be running out for Brits retiring abroad!

Any advice greatly appreciated! TIA

kidmugsy

I'd wait until the EU has got over its hissy fit about Brexit.  In the meantime I might start learning Portuguese.

Common advice is to take your pension TFLS while still UK tax resident because not all foreign countries allow the tax-free bit.

AlanP_2

I don't think it's that "they" don't support SP index linking, more to do with the list the UK Gov / DWP have on where they will index link SP (might be reciprocal though, not sure?). 


As most posters on here are UK based, an ex-pat forum might provide better information.

Johnny_Doe

Thanks, I'm currently going by this list but this could change in coming years, I wish the EU would sort themselves out!

https://www.gov.uk/government/publications/state-pensions-annual-increases-if-you-live-abroad/countries-where-we-pay-an-annual-increase-in-the-state-pension

Good advice on TFLS, definitely going to do that..

SomeMadeUpName

Spain?

I think SP is index linked.  You can get a non fiscal visa on proof of spendable funds of £30k (off the top of my head).  It's one year, then renew by 2 years, then 2 years, then you go 5 years, then permanent (or something like that, it might not be bob on).

Health is good.  In the right bit of the country English is widely spoken.  Property can be good value away from honey spots.

You do have to be in the country for min 6 months each year whilst on temp non fiscal (relaxed once you go permanent).

Or you could go Golden Visa for €500k property purchase, which has very flexible terms.

[Deleted User]

AlanP_2 said:

I don't think it's that "they" don't support SP index linking, more to do with the list the UK Gov / DWP have on where they will index link SP (might be reciprocal though, not sure?). 


As most posters on here are UK based, an ex-pat forum might provide better information.

Canadians get index linking on Canada Pension Plan if they live in Britain (or anywhere for that matter).

[Deleted User]

“ Cheap housing (Canada and France have some real bargains!)”

Hmmm. Vancouver and Toronto and the surrounding regions (where most Canadians live) have some of the most expensive housing in the world. 

Gets cheaper the closer you get to the Arctic circle. 

Johnny_Doe

Deleted_User said:

“ Cheap housing (Canada and France have some real bargains!)”

Hmmm. Vancouver and Toronto and the surrounding regions (where most Canadians live) have some of the most expensive housing in the world. 

Gets cheaper the closer you get to the Arctic circle. 

Agreed but I'm looking on the East coast (Nova Scotia/ New Brunswick).. Check out realtor.ca

[Deleted User]

Johnny_Doe said:

Deleted_User said:

“ Cheap housing (Canada and France have some real bargains!)”

Hmmm. Vancouver and Toronto and the surrounding regions (where most Canadians live) have some of the most expensive housing in the world. 

Gets cheaper the closer you get to the Arctic circle. 

Agreed but I'm looking on the East coast (Nova Scotia/ New Brunswick).. Check out realtor.ca

Have you checked out the climate?  We are talking marshes, very strong winds and mosquitoes who knock on your windows rather loudly if left outside. And that’s just the summer. 

Johnny_Doe

Deleted_User said:

Johnny_Doe said:

Deleted_User said:

“ Cheap housing (Canada and France have some real bargains!)”

Hmmm. Vancouver and Toronto and the surrounding regions (where most Canadians live) have some of the most expensive housing in the world. 

Gets cheaper the closer you get to the Arctic circle. 

Agreed but I'm looking on the East coast (Nova Scotia/ New Brunswick).. Check out realtor.ca

Have you checked out the climate?  We are talking marshes, very strong winds and mosquitoes who knock on your windows rather loudly if left outside. And that’s just the summer. 

I have yes and various websites say it has temperate summers (a bit windy and rainy) and as I previously stated, I'd spend the winter months in the US..

quote from one wesbite:

"Nova Scotia's climate is slightly continental, characterized by very cold, snowy winters and pleasantly warm, quite rainy summers."

Not sure on the extreme winds/mosquitoes, it's a large area so may vary in different regions? you are the first person I've heard mention it so will do further research but if it is as bad as you say then that's Canada off the list..! Thanks for the info..

[Deleted User]

Johnny_Doe said:

Deleted_User said:

Johnny_Doe said:

Deleted_User said:

“ Cheap housing (Canada and France have some real bargains!)”

Hmmm. Vancouver and Toronto and the surrounding regions (where most Canadians live) have some of the most expensive housing in the world. 

Gets cheaper the closer you get to the Arctic circle. 

Agreed but I'm looking on the East coast (Nova Scotia/ New Brunswick).. Check out realtor.ca

Have you checked out the climate?  We are talking marshes, very strong winds and mosquitoes who knock on your windows rather loudly if left outside. And that’s just the summer. 

I have yes and various websites say it has temperate summers (a bit windy and rainy) and as I previously stated, I'd spend the winter months in the US..

quote from one wesbite:

"Nova Scotia's climate is slightly continental, characterized by very cold, snowy winters and pleasantly warm, quite rainy summers."

Not sure on the extreme winds/mosquitoes, it's a large area so may vary in different regions? you are the first person I've heard mention it so will do further research but if it is as bad as you say then that's Canada off the list..! Thanks for the info..

Guess you are right, it depends on the exact locations. The areas I’ve been to have challenging climates - very wet and windy and full of nasty biting insects. That’s why they were colonized late.  Fine for a week or two; beautiful views and nature.  They are economically depressed too.  Even so, over the last year people from GTA have been cashing in on their property and buying in NB/NS which pushed prices up, albeit from a low level.