Is Retiring Abroad with a UK Pension Worth It?

If you're in the UK and dreaming of retirement, why not consider basking in the sun abroad while still enjoying your UK state pension? Imagine a more luxurious lifestyle in paradise, whether that's the beautiful Philippines with its stunning beaches and warm climate or vibrant Thailand, known for its rich culture and delicious food! The UK pensions department doesn't care where you set up your dream life; they'll deposit your pension into your bank account every month without fail, allowing you to live comfortably in your chosen destination. In this video, I dive into my budget for an early retirement and reveal what I can expect from my UK state pension. I will share tips on how to manage your finances effectively while living abroad and discuss the best places to retire overseas, including the pros and cons of each location. Additionally, I will explore the cost of living in these countries compared to the UK and provide insights into how to make the most of your retirement savings. Join me on this journey as I outline my plans and aspirations for a fulfilling retirement abroad, and discover how you too can enjoy a peaceful and enjoyable life in a beautiful setting.

[@anneonslow]

Interesting as always Craig. You are a source of information. Thank u x

[@philssouls]

Yes, very good advice - Chasing The Happy Life ... :-)

[@LifeJoyAdventureVlogs]

State pension is not enough. I wish I had contributed more in my private pension.I will follow your journey. All the best 😊

[@ANDREWW-w3u]

Great video

[@commuterbranchline8132]

In 2024, the U.K. state pension pays £221:20 per week and you opt to you can collect it every 4 weeks. There are 13 4 week periods within a year so that’s a welcome find for many. It’s a good idea to pay up your stamp in full asap, the government are planning to place a cap on missed or late payments. Thankfully I have well over 35 years paid and plan to seek employment in other countries now to further boost pension savings.

[@iceblue6971]

We can collect SS in USA at 62 but a lesser amount. I think my full retirement is 67 or 70 for max amount. Still have 7 years until I'm 62

[@brendandoherty2159]

I'm NOT an expert in UK Gov rules and regulations mate, but I think there are rules about accessing the NHS services if you've been out of country for a certain period, and my understanding is the "period" is not long, something like 6 consecutive months! Now, are those rules strictly enforced, I really have no idea, I guess if you turned up at a Casualty Department as us lot call it, you'd be seen whether or not you were even from the UK, still, in theory it's not quite as simple as being a UK citizen by birth and availing of the NHS free medical care.....I think!!!

[@ChasingTheSun1967]

It's related to residency I think. But you're right, they maybe don't check that. If you're fully paid up with NI contributions you should be able to use the NHS imo.

[@shakirtahir2273]

I'm 37, thinking of retiring at 52ish. I wonder if we get paid to our UK bank account and live anywhere we like?

[@ChasingTheSun1967]

Yes you can. 💯

[@shakirtahir2273]

@@ChasingTheSun1967 terima kasih

[@ChasingTheSun1967]

@shakirtahir2273 sama2

[@ChasingTheSun1967]

@shakirtahir2273 you'll have to wait until retirement age before you get a UK pension of course. For me, that's 67.

[@geedee007]

You definitely look older than 57. Good idea retiring early