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  #21  
Old 17.01.2015, 14:52
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Re: Retirement choices

I'm another one in a similar situation to the OP, there seem to be quite a few of us on here. 55 years old, only worked for three years in the UK so I will get no pension from there (my contributions were refunded when I left the country in 1985).

I worked for about 15 years in France, but the pension I will get from there won't be worth much at Swiss prices. By the time I retire, I will have worked for about 25 years in Switzerland, which I expect will result in the kind of pension which will be "livable-on" here, but would ensure a pretty good standard of living in the UK.

I have never wanted to go back as I really like it here, but it's definitely something that I am now starting to think about. Stay here and downsize in terms of accommodation and other expenses, or have a more "luxurious" lifestyle the UK (where I don't know anyone apart from my parents and sister). It's an interesting dilemma and an interesting thread.
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  #22  
Old 17.01.2015, 14:57
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Re: Retirement choices

So basically on the flip side of this, if you have worked for 30 years in CH before drawing your pension then you'll be golden, especially if you want to retire in a cheaper country?
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  #23  
Old 17.01.2015, 15:07
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Re: Retirement choices

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BTW Roegner- just a thought- you may think you are not able to retire in CH- but perhaps you are thinking Zurich- wherease elsewhere further afield could be quite affordable, of course if this is what you wish.
You are right there. But as I already have a house in Germany and have friends there, that is for me the obvious choice. But the comment is a good one, not everywhere is as expensive as f.e. Zurich.
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  #24  
Old 17.01.2015, 15:17
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Re: Retirement choices

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There is a strange EU law that when you retire to an EU or EFTA country and you are receiving a Swiss pension then you have to continue to pay to a Swiss Krankenkasse at the local country rate.
When I was looking at retiring in Germany the Swiss Krankenkasse local country German rate was higher for the basic than I pay now in Switzerland.
Look at number 14 here.
If I read this, this only seems to apply if you only have a swiss pension:

- If you are a Swiss national or a national of an EU/EFTA country whose only source of income is a Swiss pension and are resident in a member state of the EU, in Iceland or in Norway. This also applies to any members of your family who are not employed.

So this then should not be applicable if you receive a pension from several countries (as I hopefully will)?
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  #25  
Old 17.01.2015, 15:29
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Re: Retirement choices

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There is a strange EU law that when you retire to an EU or EFTA country and you are receiving a Swiss pension then you have to continue to pay to a Swiss Krankenkasse at the local country rate.
When I was looking at retiring in Germany the Swiss Krankenkasse local country German rate was higher for the basic than I pay now in Switzerland.

I assume if you are a UK citizen and retire to UK then maybe this does not apply; I could not find the information on this.

If you do not pay and they catch you then they send you a bill for the past payments you should have made and you do not get any refund for any other sickness insurance you paid.

Look at number 14 here.
Soft of... as I recall it the rule states that the country which pays you the biggest portion of your state pension is responsible for your health care. In most cases of course this does not matter because most people live in the country that pays the main part of their first pillar pension. The exception being that if you are a national of the country where you reside, they are responsible for your health care regardless of the pension situation.

I would imagine this rule applies to protect countries such as Spain, Portugal and Greece from in the not to distant future being swamped with retirees who's health care they would have to finance.
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  #26  
Old 17.01.2015, 15:34
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Re: Retirement choices

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If I read this, this only seems to apply if you only have a swiss pension:

- If you are a Swiss national or a national of an EU/EFTA country whose only source of income is a Swiss pension and are resident in a member state of the EU, in Iceland or in Norway. This also applies to any members of your family who are not employed.

So this then should not be applicable if you receive a pension from several countries (as I hopefully will)?
About "whose only source of income is a Swiss pension" If this statement is true then it changes things; where did you find that? If you have worked in Switzerland then some of your income will be a Swiss pension.

There is more detail here.

Note also "If the pensioner is domiciled in a country from which he does not receive a pension but receives a Swiss pension and a pension from another EU/EFTA state, he must take out insurance in the country in which he has held insurance for the longest period for retirement pension purposes."
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  #27  
Old 17.01.2015, 15:49
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Re: Retirement choices

So, if for example, I receive the majority of my pension from Switzerland, but emigrate to Spain upon retirement, I would pay a Swiss insurance for Spanish-quality care. Ouch, that hurts!
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  #28  
Old 17.01.2015, 16:00
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Re: Retirement choices

But then Spanish millionaires retiring here get Swiss care at Spanish prices...

.

Last edited by Sbrinz; 17.01.2015 at 17:42. Reason: changed "peasants" to "millionaires"
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  #29  
Old 17.01.2015, 17:12
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Re: Retirement choices

Yes, but only the wealthy Spanish could afford to retire here. Those that just have a Spanish pension couldnt when even those on a Swiss pension balk at the idea
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  #30  
Old 17.01.2015, 17:43
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Re: Retirement choices

You are right, I corrected post number 28!
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  #31  
Old 17.01.2015, 18:56
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Re: Retirement choices

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About "whose only source of income is a Swiss pension" If this statement is true then it changes things; where did you find that? If you have worked in Switzerland then some of your income will be a Swiss pension.
That was from the link posted earlier

So I personally should be ok as I intend to retire in Germany, where I have worked several years (and will receive a pension from as well). That part that you need to have your insurance from the country you worked in longest is weird and could be quite expensive if that is not the country you live in now and when you retire.

Last edited by roegner; 17.01.2015 at 19:00. Reason: Adding
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  #32  
Old 17.01.2015, 21:43
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Re: Retirement choices

What about retiring tax-free to Portugal?

http://www.deloitte.com/multifiledow...003256f70aSTFL
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  #33  
Old 17.01.2015, 22:28
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Re: Retirement choices

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What about retiring tax-free to Portugal?

http://www.deloitte.com/multifiledow...003256f70aSTFL
The fees that Deloitte charge are outrageous. 300 Euro to register a change of address ?
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  #34  
Old 17.01.2015, 22:31
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Re: Retirement choices

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So, if for example, I receive the majority of my pension from Switzerland, but emigrate to Spain upon retirement, I would pay a Swiss insurance for Spanish-quality care. Ouch, that hurts!
But you will only pay the Swiss krankenkasse price relevant for Spain; this might not be so high - I cannot find the price list any more
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  #35  
Old 17.01.2015, 22:33
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Re: Retirement choices

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That was from the link posted earlier

So I personally should be ok as I intend to retire in Germany, where I have worked several years (and will receive a pension from as well). That part that you need to have your insurance from the country you worked in longest is weird and could be quite expensive if that is not the country you live in now and when you retire.
About "That part that you need to have your insurance from the country you worked in longest is weird " true but that is the EU law so you need to pay heed to this!
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Old 17.01.2015, 22:34
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Re: Retirement choices

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The fees that Deloitte charge are outrageous. 300 Euro to register a change of address ?
The only reason I used the Deloitte flyer is because it explained the Portuguese deal fairly simply. Deloitte is not really relevant to the taxation issue here...
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  #37  
Old 17.01.2015, 22:41
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Re: Retirement choices

Whatever you plan you must do full and complete due diligence!

I have an old Swiss friend. He worked in various countries and eventually decided to retire to Kenya; he had worked there for a while.

So he bought a beach apartment, gave his Swiss house and car to his son. Sold all his remaining assets and moved to Kenya some years ago.

Last Summer the Kenyan Govt.. did not renew his visa
He came back to Switzerland, his son refused to acknowledge him.
Now he is living in a Swiss bed and breakfast
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  #38  
Old 17.01.2015, 22:41
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Re: Retirement choices

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About "That part that you need to have your insurance from the country you worked in longest is weird " true but that is the EU law so you need to pay heed to this!
Just counted how many years I worked in which country and counting how many more years to work so it seems I will be stuck with German health insurance when I retire.

But it could have been a nasty surprise so I am thankful for having learned this here!
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  #39  
Old 17.01.2015, 22:43
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Re: Retirement choices

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That course sounds rather expensive. We were advised to have an analysis done by these peeps. https://www.vermoegenszentrum.ch/ind...insurance.html
How much did you pay for their advice ? Did they convince you to let them 'asset manage' your money ?
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  #40  
Old 17.01.2015, 22:46
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Re: Retirement choices

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Just counted how many years I worked in which country and counting how many more years to work so it seems I will be stuck with German health insurance when I retire.

But it could have been a nasty surprise so I am thankful for having learned this here!
Always worth doing due diligence; if it turns out that it was wasted effort then that is OK.
Do check the special health insurance pricing provisions for pensioners in Germany, also complicated but maybe worth the effort?
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