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Retiring Abroad: Your Dream of Retirement Overseas!
Imagine spending your retirement under palm trees or in the mountains. Sounds tempting? Retiring abroad is a big step that requires careful planning. Learn how to make your dream of retiring abroad a reality and which aspects you should definitely consider. Need support with your planning? Contact us for tailored advice.
The topic short and concise
Imagine spending your retirement under palm trees or in the mountains. Sounds tempting? Retiring abroad is a big step that requires careful planning. Learn how to make your dream of retiring abroad a reality and which aspects you should definitely consider. Need support with your planning? Contact us for tailored advice.
Imagine spending your retirement under palm trees or in the mountains. Sounds tempting? Retiring abroad is a big step that requires careful planning. Learn how to make your dream of retiring abroad a reality and which aspects you should definitely consider. Need support with your planning? Contact us for tailored advice.
Imagine spending your retirement under palm trees or in the mountains. Sounds tempting? Retiring abroad is a big step that requires careful planning. Learn how to make your dream of retiring abroad a reality and which aspects you should definitely consider. Need support with your planning? Contact us for tailored advice.
Learn all the essential information for retiring abroad: Health insurance, pension, taxes, and more. Secure your dream of a worry-free retirement abroad!
The dream of retirement under palm trees or in the mountains – for many German retirees, this becomes a reality. Retiring abroad is gaining popularity, often lured by a higher quality of life, a more pleasant climate, and lower living costs. However, before you pack your bags, there are several things to consider. We at GoMovin help you make your move abroad stress-free and safe. With our expertise in Expat Services and international relocation, we are by your side, so you can enjoy your retirement overseas without a care.
Why do retirees move abroad?
The reasons for relocating in later life are varied. Many retirees seek a higher quality of life at lower costs. In some countries, for example, rents and healthcare are significantly cheaper than in Germany. A milder climate and better air quality are further incentives that attract many retirees to move abroad. And not least, the desire for a fresh start, new experiences, and a different culture can be decisive. According to Germans abroad, many retirees look for improved quality of life at lower costs, with climate, cost of living, and healthcare being important factors.
What this article covers
This article provides you with a comprehensive overview of all the important aspects you should consider when planning your move as a retiree. We cover the financial aspects, such as pension entitlements and tax implications, and inform you about health insurance abroad. We also address the residency requirements and offer you a practical checklist to prepare for your move. Our goal is to provide you with all the information you need for a successful and worry-free relocation. We at GoMovin are happy to help you turn your plans into reality. Learn more about our moving assistance.
Secure your retirement: How to optimise your finances in retirement!
An important aspect of planning your retirement abroad is the financial aspect. This primarily involves your pension entitlements abroad, the tax implications, and the cost of living in your destination country. Careful planning is essential here, so you can enjoy your retirement abroad with financial security. At GoMovin, we are happy to advise you on all financial matters related to your move abroad.
Pension Entitlements Abroad
As a general rule: your German pension is paid to any country. However, there are exceptions, especially regarding the payment of basic security outside Germany. It's important to know that the German Pension Insurance must be informed about your move. You are obliged to report changes of address and personal changes. Generally, an annual certificate of life (proof of life) is also required to maintain pension payments. It's advisable to inform the pension insurance ideally 2 months before your move to ensure smooth payment of your pension. According to the German Pension Insurance, pensions will generally continue to be paid even if you move abroad.
Tax Consequences
If you retire abroad, your tax situation usually changes as well. You then become subject to limited tax liability abroad. This means your tax allowance no longer applies. Therefore, it's advisable to inform yourself in advance about the double taxation agreements (DTA) between Germany and your destination country to avoid double taxation. Usually, you also have to submit an annual income statement abroad. Particularly important: If you have a Riester pension and move outside the EU, you generally have to repay the allowances you received. Transparent-Beraten.de points out that the tax implications change and the tax allowance ceases if living abroad.
Cost of Living in the Destination Country
Another important factor in the financial planning of your move is the cost of living in your destination country. Compare the rents, health care costs, and possible care costs with those in Germany. Make sure you are financially secure in old age and can maintain your standard of living. It is advisable to create a budget in advance and carefully analyze the various cost factors. GoMovin supports you in planning and organizing your move so that you can focus on what really matters.
Global health protection: How to secure your health insurance!
Health insurance is a central issue when retiring abroad. It's important to have comprehensive health coverage in your later years. Regulations vary depending on the destination country, so careful planning is essential. At GoMovin, we help you find the right health insurance for your stay abroad.
Statutory health insurance within the EU/EEA
Within the EU and the European Economic Area (EEA), as a German pensioner, you are generally still entitled to the benefits of German health insurance. You can access local healthcare using the E-121 form (or its successor form S1). The costs will then be billed to your German insurance. However, you should note that there may be differences in the scope of benefits. For instance, dental care in Spain is not covered, and in France, costs are only partially reimbursed. It is therefore advisable to inform yourself about the respective benefits in the destination country in advance. According to Krankenkassen.de, pensioners with statutory health insurance can access local healthcare via the E-121 form, with costs settled with the German insurance.
Private health insurance abroad
If you have private health insurance, you should carefully check the conditions for the validity of your private insurance abroad. In some cases, a special "foreign agreement" is required. For stays outside the EU, you will generally need additional policies. However, there can be issues with pre-existing conditions and older age, as securing new policies can often be difficult. Therefore, it's advisable to arrange suitable private health insurance early on.
Supplementary insurance and government aid
To close coverage gaps, you can take out supplementary health and nursing care insurance. This is particularly sensible if you live outside the EU. If you have government aid claims, these usually remain but may be limited abroad. Therefore, it is important to inform yourself thoroughly in advance and, if necessary, take out supplementary insurance. At GoMovin, we are happy to advise you on all matters relating to your health insurance abroad.
Register in time: How to secure your right of residence abroad!
The right of residence is another important aspect you should consider when emigrating as a retiree. The regulations vary depending on the destination country, so careful planning is essential. At GoMovin, we support you with all questions regarding your right of residence abroad.
Freedom of Movement within the EU
As a German citizen, you generally enjoy freedom of movement within the EU. This means you can reside and live in any EU country. However, there are some requirements for permanent residency. You need to have sufficient income to cover your living expenses and health insurance. After staying for more than three months, you must register with the local authorities and apply for a registration certificate. For this, you usually need to provide proof of your health insurance and financial independence. After having a continuous lawful residence of five years, you gain the right to permanent residence. However, you can lose this right if you are absent for more than two years. According to Europa.eu, EU citizens moving as retirees need comprehensive health insurance and sufficient income to avoid needing financial support from the host country.
Residence Outside the EU
If you wish to emigrate outside the EU, the visa regulations and residence permits of the respective country apply. Therefore, it is important to thoroughly inform yourself in advance and apply for the necessary documents. Also consider the social security agreements between Germany and your destination country. There may be restrictions on pension payments. At GoMovin, we support you with all questions regarding your right of residence outside the EU.
Stress-Free Move: How to Plan Your Emigration Optimally!
Good planning is the be-all and end-all for a successful retirement abroad. Start your preparations early and allocate sufficient time. At GoMovin, we help you make your move stress-free and efficient.
Planning Ahead
Plan at least 3-4 months in advance. Sort out your health insurance, inform your pension scheme, and seek tax advice. It is advisable to make a checklist and note down all important tasks. This way, you keep track of everything and don't forget anything.
Language Skills and Cultural Adaptation
Improve your language skills and, if necessary, attend a language course. Try to understand the cultural differences and adapt to the local circumstances. Establish social contacts and engage with other expatriates. This will ease your integration into your new home.
Trial Stay
Take a prolonged holiday as a trial to experience everyday life in your destination country. This allows you to identify challenges and better prepare for your new life. A trial stay gives you the opportunity to get to know the country and its people and determine if you truly feel comfortable there.
Discover dream destinations: The best countries for your retirement!
Choosing the right destination country is crucial for a successful retirement abroad. There are many attractive countries suitable for German retirees. At GoMovin, we introduce you to some popular destinations.
Within the EU
Within the EU, there are many countries with a high quality of life and good healthcare system. Spain, Italy, and Portugal are particularly popular. However, Austria and the Netherlands are also attractive options. These countries offer good infrastructure, high security, and a pleasant lifestyle.
Outside the EU
Outside the EU, there are countries with low living costs, such as Thailand and the Philippines. However, the USA and Switzerland are also popular destinations, even though the living costs are significantly higher there. It's important to weigh the pros and cons of various countries and find the right one for your individual needs.
Criteria for selecting a destination country
When choosing your destination country, you should consider various criteria such as climate, living costs, medical care, and safety. Also, pay attention to your personal preferences and choose a country where you can feel comfortable and enjoy your retirement.
Overcoming challenges: How to deal with problems abroad!
Even though emigrating as a retiree offers many advantages, there are also challenges to overcome. At GoMovin, we're here to help you tackle these challenges and enjoy your retirement abroad without worries.
Loneliness and Social Isolation
Loneliness and social isolation can be an issue, especially if you emigrate alone. Therefore, it is important to build a social network. Join clubs and organisations and connect with other expatriates. This way, you will quickly find companionship and won't feel alone.
Health Issues and Emergencies
Health issues and emergencies can be particularly stressful abroad. Create an emergency plan and acquire language skills in the medical field. Ensure you have access to good medical care. It is advisable to learn about the medical facilities in your destination country in advance.
Cultural Differences and Bureaucracy
Cultural differences and bureaucratic hurdles can make settling abroad more difficult. Try to adapt to the local culture and show patience and openness. Seek professional help with administrative procedures to save time and effort. At GoMovin, we support you with all questions regarding cultural adaptation and overcoming bureaucratic hurdles.
Fulfilled Retirement: Move Abroad Securely with GoMovin!
Emigrating as a retiree can be a fulfilling phase of life when you plan and prepare everything carefully. At GoMovin, we provide you with our expertise and comprehensive service to help you realise your dream of retiring abroad.
Summary of Key Points
Thorough planning and preparation are crucial for a successful move abroad. Make sure you ensure your financial security, secure your health insurance coverage, and comply with residency regulations.
The Advantages of Moving Abroad in Later Life
Moving abroad in later life offers many benefits, such as a better quality of life, a milder climate, and new experiences. It can be a fulfilling and varied phase of life if you overcome the challenges and seize the opportunities.
GoMovin: Your Partner for Emigration
At GoMovin, we are your reliable partner for emigrating as a retiree. We support you every step of the way, from planning to execution. Our services include, among others:
Personalised Consultation: We provide comprehensive advice on all questions regarding your emigration.
Relocation Organisation: We organise your move from A to Z.
Administrative Procedures: We support you with all administrative procedures.
Insurance: We help you find the right health insurance.
With GoMovin, you can enjoy your retirement abroad in a relaxed and carefree manner.
Checklist for Your Retirement Emigration
To ensure you don't overlook anything in planning your emigration, we have compiled a practical checklist for you:
Financial Planning:
Check pension entitlements
Seek tax advice
Research living costs in the destination country
Health Insurance:
Clarify health insurance cover abroad
Conclude additional insurance policies (if necessary)
Residency Rights:
Check visa regulations and residence permits (if necessary)
Consider social security agreements
Moving Organisation:
Engage a moving company
Find accommodation in the destination country
Conclude a tenancy agreement
Administrative Procedures:
Inform the pension insurance provider
Inform the health insurance provider
Apply for a registration certificate
Language Skills and Cultural Adjustment:
Attend a language course
Understand cultural differences
Make social contacts
Trial Stay:
Have a longer trial holiday
Test daily life in the destination country
This checklist prepares you well for your emigration as a retiree.
The government grants for your move provide an excellent opportunity to invest in a new phase of life. Whether it's a new beginning or planning your retirement, the available funding programs make moving abroad attractive and financially accessible.
With a wide range of options, GoMovin offers you comprehensive advice and support in selecting the right destination country, meeting legal requirements, navigating the application process, and avoiding potential problems.
By choosing to move with GoMovin, you're investing in the future of your home. Not only do you reduce your moving costs and secure constant support, but you also make a significant contribution to this new phase of life.
Now is the perfect time to explore the opportunities for your project. Contact us today to start your personalised consultation and make the application quickly and easily. Register for free and receive an immediate initial estimate for the renovation needs of your property.
Further useful links
Deutsche Rentenversicherung informs that pensions will generally continue to be paid even when moving abroad.
Europa.eu explains that EU citizens who move as retirees need comprehensive health insurance and sufficient income so that they do not require financial support from the host country.
FAQ
What financial benefits does emigrating as a retiree offer?
Emigrating can lead to significant savings on living costs, especially in countries with lower rents, healthcare costs, and taxes. This allows retirees to improve their standard of living or ease their budget.
How does emigration affect my pension?
Your German pension is generally paid abroad as well. However, there are exceptions for basic social security outside of Germany. Notify the German Pension Insurance in good time about your move, ideally two months in advance.
What should I consider regarding my health insurance when emigrating as a retiree?
Within the EU, you typically still have access to the benefits of the German health insurance. Outside the EU, you may need private health insurance or a local insurance policy. Check the terms of your existing insurance and take out supplementary insurance if necessary.
What residency regulations apply to German retirees abroad?
Within the EU, as a German citizen, you enjoy freedom of movement. Outside the EU, the visa regulations and residence permits of the respective country apply. Find out in advance about the necessary documents and apply for them.
How can GoMovin support me in my emigration as a retiree?
GoMovin offers you comprehensive advice and support for every step of your emigration, from planning to execution. We assist you with moving arrangements, administrative proceedings, and selecting suitable insurance.
Which countries are particularly popular with German retirees?
Within the EU, Spain, Italy, and Portugal are popular destinations. Outside the EU, many retirees move to the USA, Thailand, or Switzerland. The choice of the right country depends on your individual needs and preferences.
What happens to my Riester pension if I emigrate?
If you have a Riester pension and emigrate outside the EU, you usually have to repay the allowances received. Within the EU, there are typically no repercussions.
Do I need a certificate of life to receive my pension abroad?
Generally, an annual certificate of life (proof of life) is required to maintain your pension payments. The German Pension Insurance will inform you when and how you need to submit this.
