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 Post subject: moving to lanzarote - UK pension
PostPosted: Wed Nov 19, 2014 2:03 pm 
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Joined: Wed Nov 19, 2014 1:41 pm
Posts: 2
My wife and I are in the early stages of preparing to move to lanzarote
My wife is due to receive her state pension in five years time
Will the fact that we live abroad stop her from getting it as we will no longer have a UK address?


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 Post subject: Re: moving to lanzarote - UK pension
PostPosted: Wed Nov 19, 2014 5:56 pm 
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Joined: Thu Jan 12, 2012 6:40 pm
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No she can still get it and it is still index linked, just as in UK. She can get it paid into a UK or Spanish bank, but it must be taxed here, not in UK. Any government pension (teaching, army etc) must be taxed in UK, but any other income can be taxed in either country. It requires a bit of setting up, but there is plenty of info from the U.k government and HMRC on the web. If she has some income taxed in UK, and some here, she can claim personal allowances in both countries.


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 Post subject: Re: moving to lanzarote - UK pension
PostPosted: Wed Nov 19, 2014 8:53 pm 
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Joined: Wed Nov 19, 2014 1:41 pm
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Thanks very much for that :D


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 Post subject: Re: moving to lanzarote - UK pension
PostPosted: Thu Nov 20, 2014 1:02 pm 
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Joined: Mon Mar 31, 2008 2:10 pm
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Tongue in cheek comment alert.....

But if the lunatics take over the asylum and Britain ends up leaving the EU god knows what the situation will be for retirees abroad!


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 Post subject: Re: moving to lanzarote - UK pension
PostPosted: Thu Nov 20, 2014 7:15 pm 
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Joined: Thu Jan 12, 2012 6:40 pm
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Yes, a good question, which I occasionally think about. Obviously there would be many issues, some not so good, for example, state pensions would probably cease to be index linked. In reality, many expat UK pensioners live successfully outside the EU, so it can't be all bad, and I imagine that a whole raft of treaties would have to be drawn up covering all aspects of transition. A major driver would be what happened to exchange rates.


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 Post subject: Re: moving to lanzarote - UK pension
PostPosted: Fri Nov 21, 2014 1:16 pm 
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Joined: Mon Mar 31, 2008 2:10 pm
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Well exchange rates have already crippled many of the first wave of retirees on GBP fixed incomes - when the pound bought 30% more euros.

Bit of a generalism but....

majority of those who come to the UK are young, healthy and come to work (despite high profile cases in media of benefit tourism). Majority of those who leave UK are older, retired and have the more expensive health requirements that go with being older.

The UK actually does ok importing the young and exporting the old - I can see it costing expats a whole lot more for healthcare if the UK left europe.


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 Post subject: Re: moving to lanzarote - UK pension
PostPosted: Fri Nov 21, 2014 2:36 pm 
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Joined: Thu Jan 12, 2012 6:40 pm
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Yes interesting point. We renounced our entitlement to the NHS in return for the UK government paying Spain to give us the same state healthcare as Spanish nationals get. If that was unwound, I assume they would have to reinstate our NHS entitlement. http://www.telegraph.co.uk/health/expat ... tored.html


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