Thank you for sharing this. Pension Funds should be the holy grail and managed with a lot of caution and abundant oversight. Bankers (Investment/traders) would like nothing more than to access these funds and make short term profit while being deliberately obtuse about the long term risks. Govts come and go but Pension Plans should be an apolitical topic which all sides of the aisle must be deeply invested in and ultra protective of. And that naturally also includes ensuring a balanced approach between those paying into these funds now as well as those benefitting from them now.

When one has income in one country and lives in another one has to become financier. Of course, not a pro, not the best, but grab more or less the concepts, follow the events, take gains/loses.

It's a bit like learning the language of country one arrives as immigrant. It's just another part of the life of living abroad.

How could it influence the exchange rate? Am I supposed to learn to gamble and take huge risks?

We are all professionals, in our own way. I would never expect you to teach me history or a language, or to operate on me or diagnose a severe illness.

Of course you cannot influence the exchange rate. But, think about the next steps. There's nothing that ensures the drop in exchange rate stays at 60%.

Doh

Honestly?

Going back to the UK. Would make huge financial sense as the sale of house here and back into Sterling- would mean 60% + increase of value since purchase. Going back to the UK at our age, with the NHS in tatters and where you can die waiting for an ambulance, or in the ambulance outside the hospital, or in a hospital corridor- can't see a GP for love nor money, and have to wait years for vital treatment or operations- NOPE that would make NO sense.

I fell in love with London and then other parts of England- lock, stock and barrel- over half a century ago, and lived there all my adult life and loved it- But now that country is no longer the same. It is massively divided, and going downhill in 1000s of ways. Tolerance and positive acceptance of diversity, being the main one for me. All gone. Not for me.

So France and LePen, and all the inherent racism in everyday life? Nope. Italy- love to spend time there on holiday- living there is another reality!

For now, 2 possibles on the horizon- Portugal or Croatia. You get to your late 70s and it is not easy. No idea how old you are- but perhaps you have parents or older people in your family, and can just try to imagine. Not complaining- not whining- as you say. I didn't even start this thread!!!

So if you have no intention of going back and you feel this way about the UK, which is essentially correct, why do you keep harping on about Brexit, it is no real concern of yours !

Which is utter nonsense. My whole life was dedicated to the UK, and that of my OH too. Our family and friends are still there- and now can't get out.
Did YOU work and contribue for your all life to the State services of the UK and gave it your all?

And mainly, do YOU rely 100% on your UK income and pension to live on?

There are many Brits here who feel strongly still about the UK, and have their say, despite a) getting away a long time ago b) not depending in any way on Sterling to live on. Why don't you tell them they have no right to comment. We always planned to go back- Brexit and the massive changes it has brought around has changed our perspective now and make us feel like the UK is no longer the 'home' we loved- despite our children and grand-children, so many friends and family still there. We are British, and entitled to vote too- so our opinion is very much still valid.

What about you?

You keep demanding that someone else pay for the ingredients, make the cake and bake it, and feed it to you in a silverspoon while everybody else is to sympathise with your excruciatingly hard life.

If your lfe was dedicated to the UK as you keep claiming, well maybe, just maybe, you should have stayed there instead of moving on to where the grass appeared greener.

Your constant whining is <selfcensored, 'tis the season of generosity>

Brexit is little more than a blip in this 50yr chart.

I thought this thread was meant to clarify re. Issues involved when retiring to Switzerland..... ;-)
Not sure why it becomes a debating platform re. merits/de-merits of Brexit.

Which ever side of the debate you supported, it does not help the issue at hand now.

Let me share an amazing stat which an LBS professor shared some years back.
Less than 1 billion of the people on this earth have ANY kind of Social Security net. As the planet races towards 9 Billion inhabitants, how sustainable is this system.

This was some years back. Thinking about it today, freaks me out.
I think the pension system is a ticking time bomb in almost all countries.
And having a deeply polarised political system will only make it explode much quicker.

There are some things which should be left to Technocrats with deep skin in the game and significant bi-partisan oversight. Pension Plans are one of them.
But irrespective, the current systems in most of the countries will have to give. No way they survive the next 1-2 decades. And that is a truly frightening thought.

So, recognising how much passion Brexit evokes (just like Trump/Biden), maybe we go back to thinking what sane options exist for people who are fortunate enough to have a pension......I know that by the time my number comes up, it may well be a complete wasteland.... ;-)

__________________
Logotherapy
That which gives reason for being.

Just an immigrant in Switzerland. Albeit, I'm not dedicating my life to CH. I see myself as a freelancer and the confederation thinks about the same because I was granted a temporary permit. I can comment about life in CH, but I have no vote.

Back to the topic. After looking at the chart shared by Urs Max, I'd like to have a nice way to describe it, but...it's not getting better.

OMG, do you work in finance? Research analyst?

When I first came here 40 years ago, USD - CHF was 2.3, ten years earlier it was 2x that.

Last time I was in the UK, USD - GBP was 1-1.

I don't get your point.

Exchange rates vary, end of!

Tom

Agree. I get that JackieH isn't happy with Brexit and it has badly affected her financial situation, but am a but tired of the fact that she brings it up in just about every thread, and she describes her situation and opinions again... and again... and again... No offense to her personally, but I really don't need to read any more about it.

Fair enough- don't read it.

I did NOT start this thread.

It is not me who is unhappy with Brexit- it is now the vast majority of British people, and 2/3rds of even those who voted for it. So no, alone I am not and my views currently represent the views of- as said, the VAST majority of British people. FACT, end of.

Who cares about what is written on EF anyhow. It is dead on its feet, with the same few people going around in circles.

Nope, but I've always had a keen interest in finance (and in economics as a result).
Actually, currencies were by design not allowed to fluctuate (vary) from after WW2 (some currencies even before that) until 1971 (or thereabouts), when the multilateral agreement called Bretton Woods was dissolved. The Bretton Woods agreement implemented the gold standard, each participating currency was worth a certain (well defined and stable) amount of gold. As a consequence, exchange rates were largely unchanged for years. Capital controls were in place, you needed permission for international money transfers.

Ten years before you arrived probably was still under the Bretton Woods agreement. By then the accumulated imbalances had grown so large, the USD (like most others) tanked against the CHF when it was dissolved, which led to its drop by the time you came.

Is that why you keep coming back again then ?.

Haven‘t the Balkans suffered enough in the past century+?

I guess you must have missed all the reports, initiatives and revised pension proposals that are going on all over Europe.... Like everything political it takes time for change to happen. But the problem is well known at this stage.

UrsMax 'You keep demanding that someone else pay for the ingredients, make the cake and bake it, and feed it to you in a silverspoon while everybody else is to sympathise with your excruciatingly hard life.

If your lfe was dedicated to the UK as you keep claiming, well maybe, just maybe, you should have stayed there instead of moving on to where the grass appeared greener.'

Well no. I was born here, and grew up here. Went to London for 6 months that turned into a lifetime, 40 years. Married to a Brit, Brit children, Brit Degree, Brit jobs, Brit life. Loved it and never ever thought I'd be back. But life happens. Or death, in this case. My very elderly parents needed help in their latter years, and we chose to come and support them. Looked for a little place to rent- and found a large old house to buy instead. Did all the calculations, allowed was depreciation of Sterling of up to 30%- and made the decision to move over.

With the view to go back at a later stage to be nearer daughters in our very old age.

This thread was a) NOT started by me b) not about me/us - but of course for most subjects one draws on personal experience to give advice on any issues encountered along the way. Currently, unless someone is extremely rich, as all the advantages previously held before Brexit (availability of S1 Health Insurance exemption, and ease and cheap going back and forth with pets, etc.) then the advice is that retiring in Switzerland is just not possible currently.

Coming back Biro? Why? Well that is a very good question indeed. I have made some amazing friends through EF- most of them have left as they realised it was not for them and quite an unpleasant place at times. Others have remained but hardly ever post. For me, as most of our friends here are Swiss, it is supposed to be a good opportunity to discuss things relating to our life in the UK, where we still have a small property and return to VERY regularly, with adult children and grand-children there, family and friends. And where we always intended to return- but no longer.

Because the UK has changed beyond recognition recently, and is so divided. And because the Health Services are totally unable to cope and keep people healthy. At our age, it is a major factor. Waiting for hours and even days for an ambulance, waiting for hours and days outside A&E in an Ambulance (500 have died recently doing just that), and not being able to access a GP, outpatient treatment or vital treatment or operations is just too risky for us at our age, with our pre-exisiting conditions especially. Quite simple really.

I keep track of what is happening in Switzerland.
I know about the pension reforms.
But it is still a short term cure. The long term trends are all negative re. The current construct of social security plans.
But I am always happy to learn and be better informed :-)