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TP pension if living in EU

Discussion in 'Retirement' started by Lynn Whitmore, Sep 22, 2020.

  1. Lynn Whitmore

    Lynn Whitmore New commenter

    Dear everyone

    My partner and I are weighing up the pros and cons of spending some time (a year initially) living in France. I am currently in receipt of a small Teacher's Pensions and am wondering if any of you kind people may be in the same position, given that there is a mass exodus of British people heading for the EU before the 31 December 2020 Brexit deadline.

    My questions involve really how the TP is/will be affected by moving to the EU under the Withdrawal Agreement, where it is paid (France/UK or either), and where taxed (France/UK or either).

    Many thanks in advance for your expertise.

    Lynn
     
  2. border_walker

    border_walker Lead commenter

    In some countries there are no increases in TP unless you move back to UK. Might also apply to France in the future.
    When I looked into it some years ago now, it appeared that you can be taxed in UK then again in France.
    I came to the conclusion that it was also a good idea to have another source of income in France, like property.
    Property is a lot cheaper, but i understand cost of living is higher.
    Others may have more recent knowledge.
     
  3. heldon

    heldon Occasional commenter

    "In some countries there are no increases in TP unless you move back to UK.!

    think you mean the state pension, countries like NZ, Australia etc
     
    Braindead101 likes this.
  4. Braindead101

    Braindead101 New commenter

    I live in France. My tp is paid and taxed in the uk. You don't get a choice about that although, for a fee, you can have it sent in euros to a French bank account.
    Everyone resident in France needs to submit a tax return each year and you have to declare all worldwide income and tax paid. You are not taxed again on uk government pensions.
    My advice would be become a French resident before Dec 31. If it doesn't work out for you, you can always return to the UK but if you miss the opportunity, it'll be gone for a long time.
    You have to meet residential, financial and healthcare requirements in order to be legally resident. For us, the most expensive was private healthcare until we could join the French system. If you are of state pension age in the UK, healthcare is easier as the NHS will pay via an S1. That won't continue next year.
    Don't rely on property, either through renting or reselling, making a lot of money in France.
     
  5. Rott Weiler

    Rott Weiler Star commenter Forum guide

    As far as TPS is concerned once your pension is in payment it makes no difference at all where in the world you live. It's paid in GBP so local currency equivalent can change of course. Comments about future increases not being paid are, I believe, a confusion with State Pension.

    A quick search on TPS website will confirm the position.

    https://www.teacherspensions.co.uk/members/faqs/once-retired/payments.aspx

    Tax is a separate issue though and TPS can't/won't advise on how HMRC &/or other tax regimes will tax it.
     
    nomad and asnac like this.
  6. border_walker

    border_walker Lead commenter

    Possibly, "remembering" from some time ago now
     
  7. the hippo

    the hippo Lead commenter Community helper

    On the other hand, Lyn Whitmore, maybe you should consider Bulgaria instead of Frogland. It is a lot cheaper, but the wine and the cheese are not quite so good.
     
  8. catmother

    catmother Star commenter

    How insulting!
     
    Braindead101 likes this.
  9. frodo_magic

    frodo_magic Occasional commenter

    "Frogland"

    It was almost certainly a case of an overzealous autocorrect / autocomplete facility on Hippo's phone. I just typed in F - r - and it immediately did that on mine. The phone was probably made in the UK, by a company supporting Brexit. Or the Germans, who aren't that fond of their European cousins by and large. Or the rest of the world, for the same reason as for the Germans.

    That must be the explanation :)
     
    PeterQuint likes this.
  10. the hippo

    the hippo Lead commenter Community helper

    As readers of my blog will know, I am a really great fan of France and indeed of the EU, so please do not take this seriously, catmother. As well as making wonderful cheese and wine, the French have made many other great contributions to European culture. (Long before I was interested in living in Bulgaria, I seriously researched the possibility of buying a house in France.) I am amused and not piqued or offended when my French friends call me a rosbif.
     
  11. Braindead101

    Braindead101 New commenter

    That's all right then. As long as it's a joke. I'm sure if I use disparaging terms about jews, muslims or black people, it'll be fine if I say "It's a joke".
     
    catmother likes this.
  12. frodo_magic

    frodo_magic Occasional commenter

    Why are you saying "black people" now? "People of colour" is the term. I find your phrase to make a point about rasism distasteful with derogatory overtones. Go and stand in the corner.
     

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