The dream of spending your retirement far away

Many retirees dream of spending their retirement in another country. A life with ocean views, milder winters, and a new culture sounds appealing. But moving abroad brings with it several bureaucratic hurdles. Questions surrounding pension payments, health insurance, and tax regulations are particularly important.

According to the German Pension Insurance (DRV), around 231,000 German pensioners currently live abroad , of which about 126,000 are within the EU . Cyprus , Austria, Switzerland, and the USA are particularly popular destinations. However, anyone considering taking this step should prepare well to avoid financial and legal surprises.

Pension entitlements abroad

Within the EU, as well as in Iceland, Liechtenstein, Norway, and Switzerland, pension payments remain unchanged. The DRV continues to transfer pension amounts to the emigrants' German or foreign accounts. The same applies to countries with social security agreements such as the USA, Australia, Brazil, and Turkey .

The situation is different if retirees have lived in a country and also paid into the pension fund there. In such cases, deductions or adjustments may occur. In this case, direct consultation with the DRV is recommended to avoid financial losses.

Anyone planning to emigrate to a country without a social security agreement—for example, Thailand —should inform themselves about country-specific regulations in advance. The DRV offers individual advice on this.

Certificate of life – mandatory for many pensioners abroad

In many countries, retirees must regularly prove that they are still alive in order to continue receiving their pension. This is done via a so-called life certificate , which is sent abroad by the "pension service" of Deutsche Post DHL . Retirees have this document completed by an authority, bank, or German diplomatic mission abroad and then send it back.

In some countries, such as Australia, France, and Italy, the DRV is automatically notified when a pensioner dies. In these cases, the requirement for a life certificate is waived. A new digital proof of life certificate, available via smartphone or tablet, is currently being tested in Austria, Canada, Australia, and Thailand – but is not yet available worldwide.

Health insurance abroad – What applies to pensioners?

Before emigrating, retirees should clarify what medical care is available in their new home country. Those moving within the EU or to Iceland, Liechtenstein, Norway, or Switzerland can register with their health insurance provider using the S1 form and receive the same benefits there as in Germany.

Countries with social security agreements , such as Turkey or Great Britain , often also allow retirees to remain in German health insurance. However, additional costs for certain treatments or medications may apply, which must be borne by the retiree.

For countries without a social security agreement, it's possible to insure yourself through the local healthcare system or take out international health insurance . However, this can become very expensive as you get older:

Cost of living: Where retirees live more cheaply

While prices in Norway and Switzerland are above the German average, many Southern and Eastern European countries are significantly cheaper . Retirees here save a lot of money, especially on food and real estate prices.

A comparison from Deloitte’s Property Index 2023 shows:

Southern and Eastern Europe in particular therefore offers an attractive alternative for pensioners on a limited budget.

Climate change as a factor in country selection

Southern countries are increasingly affected by hot summers. Temperatures in Greece , for example, can regularly exceed 40 degrees Celsius . Seniors who are sensitive to heat should take this into account.

Countries with temperate climates are therefore more popular than ever. According to the University of Notre Dame's Global Adaptation Index, these countries are among the best options for the future:
✅ Norway
✅ Finland
✅ Denmark
✅ Switzerland
✅ Singapore

Free support for emigrants through MFRadio.de & Mission Freedom Ltd.

🌍 Are you planning your retirement abroad? We can help! 🌍

Mission Freedom Ltd., based in Cyprus, works with MFRadio.de to support retirees who wish to emigrate abroad. Our network of licensed lawyers, tax advisors, and insurance experts ensures a stress-free and legally secure emigration.

💡 Our free services: ✔ Tax advice for pensioners abroad
✔ Support with residence permits & visas
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📩 Contact us now, no obligation! Send us a message with your preferred country, and we'll provide you with free information and contact details for our partners .

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Author: MF_Editorial
Image: pixabay.com
Sources: see links in the text