Retiring to spain
Older Couple Walking Along BeachYear in, year out, Spain is always one of, if not the most popular overseas retirement destinations for Brits. The weather is significantly better than England all year round, and they see sun for more than 300 days each year. Besides this there’s a much more relaxed, scenic, cheaper way of life waiting to be explored.

Many pensioners may shrug off the idea of retiring to Spain because they can’t be bothered with the fuss and the hassle and the great organisation of it all, but it often proves hard to convince pensioners just how easy and hassle free the whole process can be! All of the same rules apply whether you’re buying a home for a whole family or a home to come and peacefully retire in, you must find the right area for you. You can move to a beachy location, which there are countless amounts of, a more mountainous and scenic route, or a developing urbanisation such as Camposol.

An established estate agent will be more than willing to learn about your requirements, desired locations and budget and help find you the most perfect retirement home for you. Many will also arrange a day where you can fly over to Spain and they will show you around a short-list of the best properties for you so you can be sure whatever you go for its your dream home where you can fully enjoy your retirement years.

 

Ex-pat Pensions
If you do decide to retire to Spain, you’ll be pleasantly surprised with how easy it is to collect your UK pension. Sorting a pension will be one of the most important factors that you should consider if you’re of age and retiring in Spain, and it is advised that you should consider well before you move. Your UK pension can be paid directly into a Spanish bank account and in euros, for free, or there is the option to claim your pension online.

Before you relocate, if you get in touch with the International Pension Centre, they will be able to look at your individual circumstances and advise you on the best way to move forward and the best approach to take for you. Give your bank details to the International Pension Centre and inform them on how you want your pension to be paid and let them take care of the rest. Direct Gov provides more information on how to claim a UK pension abroad here: https://www.gov.uk/state-pension-if-you-retire-abroad/how-to-claim

If you have ever paid pension or tax contributions in Spain, if you retire here even if you’re British you are likely to be entitled to a Spanish retirement pension. Luckily, this is also as straight forward as claiming a UK pension. The Spanish government will have records noting all the contributions you have paid so all that is left down to you is to contact the local pension office – Instituto Nacional de Seguridad Social (INSS).

Things To Remember

  • Get in touch wit the International Pension Centre, HM Revenue & Customs’ National Insurance Contributions Office and your local tax office before you finally leave the UK
  • If you have previously worked in Spain or another EU country, ensure you contact the local government of the location where you paid tax. This is a factor when calculating your pension.
  • You will be classed as a non-UK resident if you are permanently retiring to Spain, making complications with tax. Direct Gov has more information on this here: https://www.gov.uk/