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Retiring to Palomares with a UK pension.

Posted: Wed Apr 21, 2021 5:16pm
25 replies1342 views9 members subscribed
Stephanie

Posts: 11

3 helpful points

Location: Palomares

Joined: 21 Apr 2021

I would like to know how things have changed for me and my husband to retire with a UK pension too Spain. We have a property in Palomares and would like to retire there in a couple of years. 

Lmj18

Posted: Wed Apr 21, 2021 5:38pm

Lmj18

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Posts: 398

456 helpful points

Location: Partaloa

Joined: 2 May 2019

Posted: Wed Apr 21, 2021 5:38pm

Research on Third Country National income requirements, assuming you have British passports. 

Alicia 11

Posted: Wed Apr 21, 2021 6:05pm

Alicia 11

Super helpful member

Posts: 2110

1783 helpful points

Location: Mojacar

Joined: 30 Sep 2019

Posted: Wed Apr 21, 2021 6:05pm

are you talking the basic State pension or a private pension as well?  the amount of finance required now for settlement in Spain from the UK is much higher than the State pension alone.

Stephanie

Posted: Wed Apr 21, 2021 6:22pm

Stephanie

Original Poster

Posts: 11

3 helpful points

Location: Palomares

Joined: 21 Apr 2021

Posted: Wed Apr 21, 2021 6:22pm

Alicia 11 wrote on Wed Apr 21, 2021 6:05pm:

are you talking the basic State pension or a private pension as well?  the amount of finance required now for settlement in Spain from the UK is much higher than the State pension alone.

Yes the new State pension, but we also have savings. 

Alicia 11

Posted: Thu Apr 22, 2021 9:19am

Alicia 11

Super helpful member

Posts: 2110

1783 helpful points

Location: Mojacar

Joined: 30 Sep 2019

Posted: Thu Apr 22, 2021 9:19am

Stephanie wrote on Wed Apr 21, 2021 6:22pm:

Yes the new State pension, but we also have savings. 

it is not about savings it is about yearly income now.  the new state pension will probably not be enough to satisfy what is necessary for a couple you will need to check it.  

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L181SKY

Posted: Fri Apr 23, 2021 12:28am

L181SKY

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Posts: 999

690 helpful points

Location: Mojacar

Joined: 24 Jan 2017

Posted: Fri Apr 23, 2021 12:28am

Stephanie wrote on Wed Apr 21, 2021 6:22pm:

Yes the new State pension, but we also have savings. 

I heard they take your pension and property value into consideration and if you have the €32,000 savings avail to leave sitting in the bank year after year they accept that.  

Juliet Diaz

Posted: Fri Apr 23, 2021 7:42am

Juliet Diaz

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Posts: 243

304 helpful points

Location: Vera Playa

Joined: 23 Aug 2019

Posted: Fri Apr 23, 2021 7:42am

L181SKY wrote on Fri Apr 23, 2021 12:28am:

I heard they take your pension and property value into consideration and if you have the €32,000 savings avail to leave sitting in the bank year after year they accept that.  

I don't believe they take the value of your house into consideration but 34000 in the bank is enough for the first year application. You reapply at the end of year one for the next 2 years but as it is a 2 year period you need 68000 in the bank or income. Then same again at start of year 4 After 5 years you can apply for permanent residency. Assuming you have S1s you won't need private health care. 

L181SKY

Posted: Fri Apr 23, 2021 8:09am

L181SKY

Very helpful member

Posts: 999

690 helpful points

Location: Mojacar

Joined: 24 Jan 2017

Posted: Fri Apr 23, 2021 8:09am

Juliet Diaz wrote on Fri Apr 23, 2021 7:42am:

I don't believe they take the value of your house into consideration but 34000 in the bank is enough for the first year application. You reapply at the end of year one for the next 2 years but as it is a 2 year period you need 68000 in the bank or income. Then same again at start of year 4 After ...

...5 years you can apply for permanent residency. Assuming you have S1s you won't need private health care. 

I believe they do . also, I believe it all depends where you are in Spain.  Yes €64,000 for the two years 2 and 3, and same again but S1 no good unless you were there before 31st Dec.  you need private till year 5.  then in the Spanish system 

Stephanie

Posted: Wed Apr 28, 2021 9:15pm

Stephanie

Original Poster

Posts: 11

3 helpful points

Location: Palomares

Joined: 21 Apr 2021

Posted: Wed Apr 28, 2021 9:15pm

This post that was quoted has been deleted.

Yes I agree idiots voting to leave. But now I have to deal with what is. Thank you for your reply I will look at the website. 

We already have a property in Palomares, so its just sorting out how to get to live there. 

david 52

Posted: Fri Apr 30, 2021 8:54am

david 52

Helpful member

Posts: 221

63 helpful points

Location: Albox

Joined: 8 Oct 2017

Posted: Fri Apr 30, 2021 8:54am

All the info you require is on the uk government website we have look in to this and found this is the best place. Don't forget thay tax you more in Spain on all you're world income which is why we decided to stay in UK. We'll rent and just stay as and when. Best of luck hope it works out for you.. 

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