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German retirees are moving abroad: Here's how to secure your pension!
Sun, sea, and less bureaucracy? Many German retirees are drawn abroad. But what must you consider to ensure your dream doesn’t turn into a nightmare? Find out about the most important aspects now and plan your retirement abroad carefully. If you would like personal advice, contact us here.
The topic short and concise
Sun, sea, and less bureaucracy? Many German retirees are drawn abroad. But what must you consider to ensure your dream doesn’t turn into a nightmare? Find out about the most important aspects now and plan your retirement abroad carefully. If you would like personal advice, contact us here.
Sun, sea, and less bureaucracy? Many German retirees are drawn abroad. But what must you consider to ensure your dream doesn’t turn into a nightmare? Find out about the most important aspects now and plan your retirement abroad carefully. If you would like personal advice, contact us here.
Sun, sea, and less bureaucracy? Many German retirees are drawn abroad. But what must you consider to ensure your dream doesn’t turn into a nightmare? Find out about the most important aspects now and plan your retirement abroad carefully. If you would like personal advice, contact us here.
Dreaming of retirement under palm trees? Find out how you can make the most of your pension as a German retiree abroad and avoid pitfalls.
Why do German retirees move abroad?
Many German retirees are drawn abroad, enticed by a milder climate, lower living costs, and a higher quality of life. The dream of retiring under palm trees or in the mountains is achievable for many. At GoMovin, we understand this desire and support you in making this dream a stress-free reality. The decision to spend one's twilight years abroad is often driven by the wish for a more relaxed lifestyle and new experiences. An important factor is the more pleasant climate, which can be particularly advantageous for people with health issues.
Climate, living costs, and quality of life
The lower living costs in certain countries allow retirees to stretch their budget further and afford more. Improved quality of life often results from a more relaxed daily routine and the opportunity to discover new cultures. According to MLP, these are common reasons for emigration in retirement.
Popular destinations and their advantages
The most popular destinations for German retirees are diverse and offer various benefits. Within Europe, Austria, Switzerland, and Spain are particularly sought after. Outside of Europe, Thailand, Turkey, the Philippines, and Russia are gaining popularity. The choice of the right country depends on individual needs and preferences. At GoMovin, we are happy to advise you on selecting the right destination and support you in all steps of the emigration process. According to Spiegel Online, European countries are especially popular, with 72% of emigrating retirees opting for an EU country.
Europe and overseas
European countries often score points for their proximity to Germany and cultural similarities. Overseas destinations, on the other hand, attract with lower living costs and an exotic appeal. It is important to carefully weigh the pros and cons of different countries before making a decision. GoMovin offers comprehensive advice to make the best choice for your individual retirement. For more information on popular emigration destinations, visit Germans Abroad.
Pension entitlement abroad: How to secure your claims
The German Pension Insurance (DRV) as the First Point of Contact
The German Pension Insurance (DRV) is your first point of contact if you wish to move abroad as a pensioner. It is advisable to address all pension-related questions before emigrating to ensure your pension is smoothly paid abroad. At GoMovin, we support you in communicating with the DRV and assist you in submitting all necessary applications correctly. The DRV pays pensions to Germans living abroad as well as to foreign nationals who have worked in Germany. It's important to know that pension entitlements are calculated based on German and foreign employment periods, depending on your country of residence. More information can be found on the German Pension Insurance website.
Consultation and Applications
We support you in clarifying all pension-related questions and assist you in submitting pension applications in your new country of residence. Early contact with the DRV is crucial to avoid potential issues and ensure your pension is paid on time and in full. GoMovin is here to guide you throughout the process, making it as straightforward as possible.
Pension Entitlement and Payment Abroad
Your pension entitlement often remains valid abroad. In EU countries, Iceland, Liechtenstein, Norway, and Switzerland, the full pension payment is made without deductions. However, in non-EU countries without social security agreements, pension reductions may occur. Therefore, it's important to understand the applicable regulations before emigrating. At GoMovin, we help you navigate the complex rules and secure your pension entitlements. According to ARAG, residing within the EU, Iceland, Liechtenstein, Norway, or Switzerland guarantees full pension payment without deductions.
Social Security Agreements and Pension Reductions
Germany has entered into social security agreements with some countries that regulate pension payments. If you move to a country without such an agreement, pension reductions may apply. However, there are exceptions, for example, for reduced earning capacity pensions and contributions under the Foreign Pensions Act. GoMovin assists you in checking whether a social security agreement exists with your destination country and what impact this has on your pension.
Tax Benefits Abroad: How to Optimise Your Finances
Tax Aspects and Double Taxation Agreements
The tax aspects are an important point when emigrating as a pensioner. Germany generally taxes pension income subsequently, meaning that the pension is taxed only upon reaching retirement age. To avoid double taxation, Germany has concluded double taxation agreements with many countries. At GoMovin, we recommend seeking advice from a tax advisor to optimise your tax situation. Since 2005, Germany has used "subsequent taxation", where pension income is taxed individually, as explained on the Deutsche Rentenversicherung page.
Tax Office Neubrandenburg (RiA)
The Tax Office Neubrandenburg (RiA) is your point of contact for all questions regarding the taxation of your pension abroad. It is important to contact the tax office early to fulfil all tax obligations and avoid potential disadvantages. GoMovin supports you in communicating with the tax office and helps you compile all the necessary documents. According to 1822direkt, the Neubrandenburg Tax Office (RiA) is the right point of contact.
Individual Tax Advice for Pensioners Abroad
Individual advice from a tax advisor is essential to understand complex tax regulations and optimise your finances. A tax advisor can help you utilise double taxation agreements and minimise your tax burden. We at GoMovin work with experienced tax advisors specialising in the tax concerns of pensioners abroad. It is advisable to seek advice well before emigrating to consider all tax aspects.
Avoiding Double Taxation
The double taxation agreements aim to prevent you from being taxed on your pension both in Germany and in your new country of residence. However, the specific regulations vary from country to country. GoMovin supports you in determining which double taxation agreements are relevant to you and how you can make optimal use of them. It is important to be aware of the tax implications of emigration to avoid unpleasant surprises.
Health Insurance Abroad: How to Stay Healthy
Statutory Health Insurance and S1 Form
Health insurance is an important factor to consider when retiring abroad. Within the EU/EEA and Switzerland, you can generally use your statutory health insurance by applying for the S1 form. This form allows you to access healthcare services in your new country of residence. We at GoMovin assist you in applying for the S1 form and provide advice on your health insurance options. ARAG points out that retirees residing in the EU/EEA or Switzerland need the S1 form.
EU/EEA and Switzerland
With the S1 form, you have the right to the same healthcare services as the citizens of your new country of residence. However, it's important to note that the benefits and charges can vary from one country to another. GoMovin informs you about the specific aspects of the healthcare system in your destination country and helps you find the best health insurance solution. In some cases, a voluntary health insurance with subsidies is also possible.
Private Health Insurance and Entitlement
Outside the EU/EEA and Switzerland, you generally require a private health insurance. It is advisable to consider an entitlement for returning to Germany, to ensure a smooth re-entry into the statutory health insurance if you decide to move back. We at GoMovin advise you on selecting the appropriate private health insurance and assist you in obtaining entitlement. According to 1822direkt, you should conclude a private health insurance for a permanent stay outside the EU.
Outside the EU/EEA and Switzerland
A private health insurance usually provides comprehensive coverage, which can be more expensive than statutory health insurance. It is important to carefully compare the different offers and choose the insurance that best meets your needs. GoMovin supports you in selecting suitable insurance and helps you find the best terms.
Supplementary Long-Term Care Insurance
Due to the variations in the benefits, a private supplementary long-term care insurance is recommended, as the services may vary abroad. We at GoMovin are pleased to advise you on this topic and help you find the right insurance. It is important to arrange for supplementary long-term care insurance early on to ensure optimal protection in old age. According to 1822direkt, you should consider a private supplementary long-term care insurance.
Variations in the Benefits
The long-term care insurance benefits can significantly differ abroad compared to those in Germany. Therefore, it is advisable to take out a private supplementary long-term care insurance to cover potential care gaps. GoMovin assists you in finding suitable insurance and helps you secure the best conditions. A good supplementary long-term care insurance provides you with a high level of security and independence in old age.
Moving Abroad: How to Handle the Formalities
Deregistration in Germany and Re-registration Abroad
Before moving abroad, you must deregister in Germany and re-register in your new country of residence. It is important to observe the formalities and deadlines to avoid issues. We at GoMovin support you with all steps of the relocation process and help you compile all necessary documents. Deregistration in Germany is required at the registration office, while registration in the new country of residence varies from country to country.
Formalities and Deadlines
Deregistration at the registration office in Germany should be done well in advance of moving. Registration in the new country of residence usually must occur within a certain period. GoMovin informs you about the exact deadlines and formalities in your destination country and assists you with all necessary steps.
Bank Accounts and Pension Transfers
You can have your pension transferred to either a German or a foreign account. It is important to check with your bank regarding fees and conditions for international transfers. We at GoMovin assist you with setting up a foreign account and help organise the pension transfer. MLP points out that pension transfers are generally possible to both German and foreign accounts.
German and Foreign Accounts
The pension transfer can take place to either a German or a foreign account. It is important to weigh the pros and cons of the various options and choose the best solution for you. GoMovin supports you in making the decision and helps you take all necessary steps.
Life Certificate
To avoid pension interruptions, you must submit a life certificate each year. The life certificate serves as annual proof of your still being alive. We at GoMovin remind you in good time to submit the life certificate and help you fill it out correctly. According to 1822direkt, the annual life certificate is an important requirement to prevent pension interruptions.
Annual Proof
The annual life certificate must be confirmed by an authority or another authorised entity in your country of residence. It is important to send the life certificate to the German Pension Insurance on time to prevent pension interruptions. GoMovin supports you in obtaining and submitting the life certificate.
Top countries for retirees: Find your paradise
Europa
In Europe, Spain, Portugal, Greece, Italy and Hungary are popular destinations for retirees looking to relocate. These countries offer a high quality of life, pleasant climate, and good infrastructure. At GoMovin, we are happy to advise you on the selection of the right country and support you at every step of the relocation process. Proximity to Germany, cultural similarities, and EU membership are additional advantages of these countries.
Spain, Portugal, Greece, Italy, Hungary
The advantages of these countries include their closeness to Germany, cultural similarities, and EU membership. They also offer a high quality of life and a pleasant climate. GoMovin helps you in choosing the right country and assists you in taking all necessary steps.
Overseas
Outside of Europe, Thailand, Panama, the USA, Ecuador, and Costa Rica are popular destinations for retirees. These countries attract with low living costs and a tropical climate. At GoMovin, we gladly advise you on selecting the appropriate country and support you in every step of your relocation. The low living costs and tropical climate are the main attractions of these countries.
Thailand, Panama, USA, Ecuador, Costa Rica
The advantages of these countries include low living costs and a tropical climate. However, it is important to consider cultural differences and language barriers. GoMovin supports you in preparing for relocation and helps you settle into your new home.
Specific Case: Spain
In the specific case of Spain, there is a particular tax situation regarding pensions. Since 2015, a German tax in Spain has been levied on pensions, rising from 5% to 10% by 2030. However, this tax can be credited against the Spanish tax. We at GoMovin inform you about the tax specifics in Spain and help you optimize your tax burden. According to ARAG, since 2015 a German tax has been imposed on pensions in Spain.
German Tax in Spain
The German tax in Spain is levied on pensions paid to individuals residing in Spain. The tax currently amounts to 5% and will increase to 10% by 2030. GoMovin assists you in calculating your tax burden and helps you take all necessary steps.
Overcoming Challenges: How to Achieve Successful Integration
Language Barriers and Cultural Adaptation
Language barriers and cultural adaptation can present challenges when emigrating. It is advisable to take a language course beforehand and learn about the culture of your new country of residence. Here at GoMovin, we support you in preparing for cultural adaptation and help you find language courses. Attending local events can also be beneficial in integrating into the new culture.
Language Courses and Integration Offers
Language courses and integration offers can assist you in settling into your new home more quickly. It is important to embrace new experiences and engage with cultural differences. GoMovin supports you in finding suitable schemes and helps you network.
Social Isolation and Homesickness
Social isolation and homesickness can occur if you feel lonely in your new country of residence. Establishing a social network and making connections with other expatriates and locals is essential. Here at GoMovin, we support you in networking with other expatriates and assist you in making social connections. Building a social network is crucial for feeling comfortable in your new home.
Building a Social Network
Building a social network can help you feel less lonely and settle into your new home more quickly. It is important to proactively reach out to others and show interest in your new home's culture. GoMovin supports you in networking with other expatriates and aids you in making social connections.
Unexpected Costs and Financial Risks
Unexpected costs and financial risks can arise when emigrating. Creating a careful budget plan and establishing an emergency fund is important. Here at GoMovin, we support you in budget planning and help you minimise financial risks. A careful budget plan is key to avoiding financial difficulties.
Budget Planning and Emergency Fund
A careful budget plan and establishing an emergency fund can help cover unexpected costs and minimise financial risks. It is important to consider all cost factors and plan for a financial buffer. GoMovin assists you in budget planning and helping you minimise financial risks.
Retirement Checklist: How to Plan Properly
Before Emigrating
Before emigrating, you should select and research your destination country, assess and plan your financial situation, organise health insurance and retirement provisions, and seek legal and tax advice. We at GoMovin support you in all preparatory steps and help you gather all the necessary information. Careful planning is crucial for a successful retirement abroad.
Research and Planning
Research and Planning are the most important steps before emigrating. It is essential to inform yourself about all aspects of life in your new country of residence and make all necessary preparations. GoMovin supports you in research and planning and helps you gather all the necessary information.
After Emigrating
After emigrating, you should register in your new country of residence, learn the language, establish contacts, and become familiar with local conditions. We at GoMovin support your integration into your new home and help you settle in quickly. Registering in your new country of residence is an important step to fulfil all rights and obligations.
Registration and Integration
Registration in the new country of residence and integration are important steps to feeling comfortable in your new home. It is important to be open to new experiences and embrace cultural differences. GoMovin supports you in integration and helps you establish contacts.
Fulfilled retirement abroad: Your dream comes true
The Benefits Outweigh
The benefits of retiring abroad outweigh when planning is right. A higher quality of life, a pleasant climate, and financial advantages are just some of the reasons why more and more German retirees choose to live abroad. At GoMovin, we support you in making your dream of retiring abroad a reality. A fulfilling retirement abroad is possible if you plan and prepare all aspects carefully.
Quality of Life, Climate, and Finances
Quality of life, climate, and finances are the most important factors advocating for retirement abroad. A pleasant climate can improve your health, while lower living costs can give you more financial flexibility. GoMovin supports you in planning and preparing for your retirement abroad.
Individual Decision
The choice of the right country depends on individual needs and preferences. There is no one-size-fits-all formula for the perfect retirement abroad. At GoMovin, we provide individual advice and help you find the country that best suits you. Each case is different and requires tailored advice.
Each Case is Different
Each case is different and requires tailored advice. It is important to consider your personal needs and preferences to find the right country for your retirement. GoMovin assists you in decision-making and helps you consider all aspects.
At GoMovin, we understand that the decision to emigrate as a German retiree is a significant step. That's why we offer comprehensive relocation assistance that covers all aspects of your move – from administrative formalities to insurance. With our personal advice and global network, we make your international move stress-free and efficient.
Benefit from our expertise and start your new chapter relaxed. Contact us today to learn more about our services and to plan your individual move. Visit our relocation assistance page and discover how we can help you realise your dream of retiring abroad. Get in touch now!
Further useful links
Deutsche Rentenversicherung offers comprehensive information on pensions abroad, including pension payments and tax aspects.
MLP provides information on important aspects to consider before emigrating as a retiree, such as living costs and bank accounts.
ARAG explains pension payments abroad and the necessity of the S1 form for retirees in the EU/EEA and Switzerland.
FAQ
Which countries are particularly attractive for German retirees to emigrate to?
Particularly popular within Europe are Spain, Austria, and Switzerland. Outside of Europe, Thailand, Turkey, and the Philippines are gaining in popularity. The choice depends on your individual needs and preferences.
How does moving abroad affect my pension?
Within the EU, Iceland, Liechtenstein, Norway, and Switzerland, you will receive your full pension without deductions. In other countries, there may be reductions, depending on social security agreements.
What do I need to consider regarding health insurance when emigrating as a retiree?
Within the EU/EEA and Switzerland, you can usually use your statutory health insurance with the S1 form. Outside of these regions, you will need private health insurance.
How do I avoid double taxation of my pension abroad?
Germany has double taxation agreements with many countries. The tax office in Neubrandenburg (RiA) is your contact for tax questions.
What formalities do I need to complete before moving?
You need to de-register in Germany and register in your new country of residence. Also, clarify your bank accounts and the transfer of your pension.
How do I secure my pension payments abroad?
You must provide an annual certificate of life to avoid interruptions in your pension payments. The Deutsche Rentenversicherung (DRV) requires this proof.
What role does the Deutsche Rentenversicherung (DRV) play when emigrating as a retiree?
The DRV is your primary contact for all pension-related questions. Resolve all details before emigrating to ensure the smooth payment of your pension.
What are the biggest challenges of emigrating as a retiree and how can GoMovin help?
Challenges often include language barriers, cultural adaptation, and social isolation. GoMovin offers comprehensive relocation assistance, from official procedures to insurance, to make your move stress-free.
