Retiring Abroad, options?

nigelbb

The UK state pension is index-linked if you move to an EU state & you will also be entitled to an S1 at state pension age which will go a long way to paying for your healthcare. These aspects of social security coordination were included in the Trade & Cooperation Agreement signed last December & apply to those who move to the EU in years to come so apply even though you missed out on the protections of the Withdrawal Agreement.

In France if you totally liquidate a SIPP or other DC pension you only pay 7.5% income tax.

lisyloo

What about Portugal? Would need to look at the qualifying criteria but 10% income tax is attractive.

Thrugelmir

lisyloo said:

Would need to look at the qualifying criteria but 10% income tax is attractive.

Until the rate is no longer 10%........

lisyloo

Thrugelmir said:

lisyloo said:

Would need to look at the qualifying criteria but 10% income tax is attractive.

Until the rate is no longer 10%........

But that’s the same for any of us permanently based in the UK as well isn’t it? Tax rates could change anywhere in the world including here at home.
I wouldn’t suggest anyone going purely for low tax, the living costs, property prices, climate, heating costs, healthcare have to be looked at as well.
I believe Portugal stacks up quite well outside a few property price hot spots.

Johnny_Doe

nigelbb said:

The UK state pension is index-linked if you move to an EU state & you will also be entitled to an S1 at state pension age which will go a long way to paying for your healthcare. These aspects of social security coordination were included in the Trade & Cooperation Agreement signed last December & apply to those who move to the EU in years to come so apply even though you missed out on the protections of the Withdrawal Agreement.

In France if you totally liquidate a SIPP or other DC pension you only pay 7.5% income tax.

Really useful information , thanks so much.. Regards.. (my google research has failed me on this occasion)

Steve182

You've not said what passport(s) you hold. Not all countries will welcome you. If you have a British passport you should consider that we've now left the EU and the rules have changed!

I'm OK, I'm married to an EU citizen so I could probably just follow my wife to most countries in Europe if I chose.

My parents next door neighbour (who voted leave incidentally) bought a house in Spain last year with the intention of retiring there. He was about to exchange contracts for his UK house sale when his plans were scuppered by the brexit deal which does not favour immigration between UK and Europe in either direction so he cancelled the sale and will now retire in the UK.

It appears he never considered leaving the EU may affect his retirement plans when he decided to vote for it.

sheslookinhot

Steve182 said:

You've not said what passport(s) you hold. Not all countries will welcome you. If you have a British passport you should consider that we've now left the EU and the rules have changed!

I'm OK, I'm married to an EU citizen so I could probably just follow my wife to most countries in Europe if I chose.

My parents next door neighbour (who voted leave incidentally) bought a house in Spain last year with the intention of retiring there. He was about to exchange contracts for his UK house sale when his plans were scuppered by the brexit deal which does not favour immigration between UK and Europe in either direction so he cancelled the sale and will now retire in the UK.

It appears he never considered leaving the EU may affect his retirement plans when he decided to vote for it.

I wonder how many people that have had there employment or/and retirement plans destroyed were duped into voting leave by empty promises.

Thrugelmir

lisyloo said:

Thrugelmir said:

lisyloo said:

Would need to look at the qualifying criteria but 10% income tax is attractive.

Until the rate is no longer 10%........

But that’s the same for any of us permanently based in the UK as well isn’t it? Tax rates could change anywhere in the world including here at home.
I wouldn’t suggest anyone going purely for low tax, the living costs, property prices, climate, heating costs, healthcare have to be looked at as well.
I believe Portugal stacks up quite well outside a few property price hot spots.

There's a lot to be considered. In particular if one lives to a ripe old age.  Or suffers from certain health conditions. With no family to provide support. 

Ganga

sheslookinhot said:

Steve182 said:

You've not said what passport(s) you hold. Not all countries will welcome you. If you have a British passport you should consider that we've now left the EU and the rules have changed!

I'm OK, I'm married to an EU citizen so I could probably just follow my wife to most countries in Europe if I chose.

My parents next door neighbour (who voted leave incidentally) bought a house in Spain last year with the intention of retiring there. He was about to exchange contracts for his UK house sale when his plans were scuppered by the brexit deal which does not favour immigration between UK and Europe in either direction so he cancelled the sale and will now retire in the UK.

It appears he never considered leaving the EU may affect his retirement plans when he decided to vote for it.

I wonder how many people that have had there employment or/and retirement plans destroyed were duped into voting leave by empty promises.

I do not want to turn this into a political debate BUT wonder if we would have done as well with the Covid vaccine program if we had voted to stay .

sheslookinhot

Ganga said:

sheslookinhot said:

Steve182 said:

You've not said what passport(s) you hold. Not all countries will welcome you. If you have a British passport you should consider that we've now left the EU and the rules have changed!

I'm OK, I'm married to an EU citizen so I could probably just follow my wife to most countries in Europe if I chose.

My parents next door neighbour (who voted leave incidentally) bought a house in Spain last year with the intention of retiring there. He was about to exchange contracts for his UK house sale when his plans were scuppered by the brexit deal which does not favour immigration between UK and Europe in either direction so he cancelled the sale and will now retire in the UK.

It appears he never considered leaving the EU may affect his retirement plans when he decided to vote for it.

I wonder how many people that have had there employment or/and retirement plans destroyed were duped into voting leave by empty promises.

I do not want to turn this into a political debate BUT wonder if we would have done as well with the Covid vaccine program if we had voted to stay .

I think you just have, but you probably knew that. 

Yes, we can all wonder, if it was a strategic decision or just luck. Given the number of deaths and other disastrous decisions I will opt for the latter.