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Emigrate in old age: How to secure your pension and health!
The dream of retiring under palm trees or in the mountains is becoming a reality for many Germans. However, before you pack your bags, there are a few things to consider. Want to find out how GoMovin can assist you with planning and executing your stay abroad? Contact us for a no-obligation consultation and learn more about our comprehensive relocation services.
The topic short and concise
The dream of retiring under palm trees or in the mountains is becoming a reality for many Germans. However, before you pack your bags, there are a few things to consider. Want to find out how GoMovin can assist you with planning and executing your stay abroad? Contact us for a no-obligation consultation and learn more about our comprehensive relocation services.
The dream of retiring under palm trees or in the mountains is becoming a reality for many Germans. However, before you pack your bags, there are a few things to consider. Want to find out how GoMovin can assist you with planning and executing your stay abroad? Contact us for a no-obligation consultation and learn more about our comprehensive relocation services.
The dream of retiring under palm trees or in the mountains is becoming a reality for many Germans. However, before you pack your bags, there are a few things to consider. Want to find out how GoMovin can assist you with planning and executing your stay abroad? Contact us for a no-obligation consultation and learn more about our comprehensive relocation services.
Are you planning to emigrate in retirement? Find out how to secure your pension, choose the right health insurance, and make your move stress-free. Get informed now!
Planning to emigrate in old age and enjoy your retirement under the sun? This guide provides you with a comprehensive overview of all the important aspects you should consider when planning and implementing your project. At GoMovin, we understand that such a step must be well thought out. That's why we support you with our expertise and tailored solutions to make your move as stress-free and efficient as possible.
Why are more and more retirees moving abroad? The reasons are diverse: lower living costs, a milder climate, a higher quality of life, and tax advantages are just a few. However, before you pack your bags, there are some important aspects to consider. These include financial planning, healthcare, social integration, and language skills.
We help you overcome these challenges and realise your dream of retirement abroad. With our all-in-one solution for international relocations, we offer you personal advice, legal support, property services, and assistance with cultural integration. This way, you can relax and focus on your new phase of life. Find out more about our relocation assistance.
Pension Abroad: How to Secure Your Benefits
A central aspect of planning your retirement abroad is ensuring your pension payments. Basically, it is possible to receive your pension even abroad. The German Pension Insurance pays your pension into an account of your choice, but there are some important points to consider.
Social security agreements play a crucial role. If you move to a country in the European Union (EU), Iceland, Liechtenstein, Norway, or Switzerland, the amount of your pension generally does not change. However, there may be deductions if your pension entitlement is based on foreign periods, for example, due to the agreement with Poland from 1975. In countries without a social security agreement with Germany, there may be restrictions. It is therefore advisable to obtain comprehensive information in advance and, if necessary, seek professional advice.
Notification obligations and the annual life certificate are essential. You must inform the Pension Service of Deutsche Post AG of your change of address and submit an annual life certificate to ensure continued pension payments. Some countries, such as Austria, Switzerland, Italy, and Spain, are exempt from this requirement due to an exchange of death records. Inform the Pension Service at least two months before your move to ensure smooth payment of your pension.
Optimise Taxes: Reduce Deductions in Retirement
The tax implications of emigrating in old age should not be underestimated. Essentially, your German pension remains taxable abroad. However, changes may arise due to a double taxation agreement between Germany and your new country of residence. It is important to know that as a pensioner abroad, you generally lose the tax allowances and benefits that you were entitled to in Germany.
The Riester pension can lead to the repayment of grants if you move outside the EU. If you have a Riester pension and move to a country outside the EU/EEA (with the exception of Iceland, Liechtenstein, Norway, and Switzerland), you may be required to repay the state grants. Therefore, it is advisable to inform yourself thoroughly in advance and weigh the pros and cons.
To increase financial flexibility in old age, property reverse mortgage options can be an interesting choice. There are different models, such as the temporary annuity, usufructuary right, or sale with leaseback. These strategies allow you to release capital from your property without having to sell it immediately. This can help you finance your move and living expenses abroad. Get informed through our community for experience exchange.
Protecting Health: Finding the Right Health Insurance
Healthcare is a crucial factor when planning your retirement abroad. Within the EU/EEA, you are still entitled to German health insurance benefits under certain conditions. However, this only applies if you receive exclusively a German pension and do not acquire local benefit claims. The benefits are limited to what locals in your new country of residence also receive.
Outside the EU/EEA, you will need private international health insurance. Statutory health insurance generally ends when you move to a country outside the EU/EEA. Therefore, it is necessary to take out private international health insurance. However, you should be mindful of age restrictions and the exclusion of pre-existing conditions. It is advisable to choose an insurance policy that offers long-term or indefinite coverage and covers pre-existing conditions as well.
To keep the option open for later returning to the German system, you should take out a policy with your German health insurer. This way, if you return to Germany, it will be easier to re-enter the statutory health insurance.
Securing the right of residence: How to successfully register
The right of residence is another important aspect you should consider when emigrating in old age. Within the EU, as an EU citizen, you enjoy freedom of movement. To reside in another EU country, you only need to prove that you have sufficient health insurance coverage and enough income to support yourself. After five years of residence in an EU country, you are entitled to a permanent right of residence.
Outside the EU, individual visa requirements and residence permits apply. The regulations for entry and residence outside the EU vary from country to country. It is therefore advisable to thoroughly inform yourself in advance and, if necessary, seek professional advice. We at GoMovin are happy to assist you with applying for the necessary documents and permits.
Registration obligations must be observed both in Germany and abroad. Before leaving Germany, you must deregister with your local authority. You also need to inform the Pension Service of Deutsche Post AG of your new address to ensure your pension continues to be paid on time. After arriving in your new country of residence, you must register with the relevant authorities and, if necessary, apply for a residence permit.
Finding the Best Destination: Europe or Overseas – Where Will You Live Better?
The choice of the right destination country is a very personal decision that depends on your individual preferences and needs. Europe offers many attractive options for German retirees, such as Portugal, Spain, and Italy. These countries are characterised by their proximity to Germany, good infrastructure, and pleasant climate.
Overseas attracts with low cost of living and exotic cultures. Thailand, the Philippines, and Jordan are popular destinations for retirees who wish to benefit from lower living costs and an exotic culture. However, you should consider the challenges concerning healthcare and cultural differences. The criteria for choosing the destination country should include costs, health, safety, and language.
When deciding on a destination country, you should take your individual needs and priorities into account. Do you want to stay close to your family and friends? Do you value good medical care? Do you speak the local language? These are questions you should ask yourself in advance to find the right destination country for you. Our list of the best countries for emigration can help you make your decision.
Mastering Integration: How to Settle in Quickly
Integrating into a new country can be challenging, but with the right preparation and mindset, you can master it. Language barriers can be overcome through language courses and cultural activities. Learning the local language is crucial to navigate daily life and make connections.
Social contacts are essential for a fulfilling life abroad. Seek contact with other Germans already living abroad, and join German communities and clubs. This can help you settle in faster and make new friends. Be open and adaptable to deal with cultural differences.
Practical tips for everyday life make integration easier. Find out about banking, bureaucratic procedures, and transport options in your new country of residence. Use our support with bureaucratic processes to find your way around quickly. With the right preparation and mindset, you can quickly settle into your new home and enjoy a fulfilling life abroad.
Use checklist: Step by step to emigrating
Careful planning is crucial for a successful emigration in later life. Before you emigrate, you should carry out comprehensive financial planning, have a health check-up, and seek legal advice. Find accommodation in your new country of residence in good time and take care of all necessary formalities.
There are also several things to consider after emigration. Register in the new country, take out health insurance, and maintain social contacts. Familiarise yourself with local conditions and adapt to the new culture. With our emigration checklist, you are perfectly prepared.
Key Benefits of a Well-Planned Emigration
Here are some of the key benefits you'll gain:
Financial Security: Ensuring your pension payments and managing taxes effectively.
Health and Well-being: Accessing quality healthcare and maintaining your health.
Social Integration: Building a supportive community and enjoying a fulfilling social life.
Dare to Start Anew: Emigrating as an Opportunity for a Fulfilling Retirement
Emigrating in old age is a major decision that requires careful consideration. However, with the right preparation and support, it can be an opportunity for a fulfilling retirement. We at GoMovin help you realise your dream of retiring abroad.
Here are the key points summarised: Secure your pension payments, organise suitable health insurance, familiarise yourself with residency rights, and choose the right destination country for you. Maintain social contacts and adapt to the new culture.
The decision to live abroad is a highly personal one, depending on your individual needs and desires. We support you in making the right decision and making your move as stress-free as possible. Looking to the future: trends and developments show that more and more people are emigrating in old age to enjoy their retirement to the fullest. Take advantage of this opportunity and embark on a new, exciting chapter of your life! Contact us today for personalised advice and let's plan your move together: Contact.
Further useful links
The German Pension Insurance provides information about receiving a pension abroad and important aspects to consider.
BMFSFJ offers information on social and pension policy, relevant for retirees moving abroad.
Europa.eu is a source of information for cross-border issues within the EU, including freedom of movement and residence rights.
WHO offers a global perspective on age-related health topics, important for planning retirement abroad.
Federal Agency for Civic Education (bpb) provides information about emigration from Germany.
FAQ
Which countries are particularly popular with German retirees looking to emigrate?
Many German retirees are drawn to Spain, Portugal, Thailand, and Turkey. These countries often offer a pleasant climate, lower cost of living, and high quality of life.
How does moving abroad affect my German pension?
As a rule, your German pension will also be paid abroad. Within the EU/EEA and in countries with social security agreements, the amount usually remains unchanged. It is important to find out in advance about possible tax agreements.
Do I need special health insurance when moving abroad as a retiree?
Within the EU/EEA, you may still be entitled to benefits from the German health insurance system. Outside the EU/EEA, you will need private international health insurance. Be aware of age restrictions and exclusions for pre-existing conditions.
What should I consider when applying for a residence permit abroad?
Within the EU, as an EU citizen, you enjoy freedom of movement. Outside the EU, individual visa conditions and residence permits apply. Make sure you seek information in good time and seek professional advice if necessary.
How can I improve my language skills before emigrating?
Attend language courses, use online language learning programs, or seek out contact with native speakers. Language skills greatly facilitate integration into your new country of residence.
What role does the life certificate play in pension payments abroad?
The life certificate is an annual proof that you are still alive. It is required by the Deutsche Post AG Pension Service to continue the pension payment. Some countries are exempt from this requirement.
How can GoMovin assist me with relocating abroad in later life?
GoMovin offers an all-in-one solution for international relocations, including personal advice, legal support, real estate services, and assistance with cultural integration. We make your move as stress-free as possible.
What happens to my Riester pension if I move abroad?
If you move outside the EU/EEA (except for Iceland, Liechtenstein, Norway, and Switzerland), there may be a repayment of government allowances. Find out in advance for detailed information.
