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£1 = 58.84php.......ouch ! That’s lowest since we arrived in the Philippines 3 years 4 months ago. Went out cycling today. In 2 hours nether saw a bus or a jeepney. Roads were very quiet and most businesses were closed.

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It's going to ruin my retirement plans between this, a tory government (they want to make me retire at 75 and not access my private pension until later not the current 55) and brexit (devaluation of the £ compared to other currencies)

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Make you retire at 75?

How can government stop you accessing your private pension? ​​​​​​

Regards

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Yes. I have been here 5 years and I was getting 73 to gbp. It took a sharp hit to the current levels after the referendum but slowly recovered.

Yes.. Buses and jeepneys are banned. I couldn't get a tricycle to take me to a restaurant I am currently using.... Because they are banned if I understand correctly. Part or maybe all of the market has been closed down. I couldn't find a place to eat so I had to settle for bbq chicken to take home.

The owner of your sub division has now banned all visitors so I am told this evening.

The US state department has advised all US Citizens to leave Metro Manilla and cebu because of civil unrest because of the draconian measures taken by government. Happy days

Regards
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Still remember the days when the £1 was Peso 106.

Luckily just before Xmas I changed about 6 months worth at 70+, but once that is used up her-in-doors is worried her pocket money is going to take a big hit.

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Osbourne allowed the ability to access private pensions at 55 in income drawdown provided you didn't draw over 25% of your fund it was tax free this was what I was relying on to see me through to drawing state pension at 67 because I'm currently 48 provided I didn't have any housing costs get a cheap house but when I'm 50+ with the wife in Philippines I reckon can live off 8k a year till pension age
They have been talking about raising the income drawdown age to 57 maybe 60 and also raising state pension age to 75

Either or both of which would mean later or no retirement

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Ah for the heady days of Empire when 1 pound was US$4.80.

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Others are far more informed than me about cost of living in the Philippines, but I think your numbers are way off.

8k a year is not much at all. Less than £700 a month. It works out to just over £22 a day. I'm sure you can live in the Philippines for that , as millions no doubt do, but do you really want to ?

You're not leaving yourself much fun money there. After bills, health insurance, food, Internet etc , petrol, travel costs etc, how much you going to have left over ? And what about an emergency fund if something happens...

I think you're cutting it very fine, and 8k a year is more like existing than living. Hopefully others on here will tell me I'm wrong.

What's the rush? 🤔️ Why not work a few more years, get a bit more of a nest egg behind you, and then have a better life when you do stop working a few more years down the line.

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My wife will also have a pension and will of course be contributing I myself don't plan on doing much I generally read I'm not a drinker or smoker lol I would like to be warm

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👍👍👍👍

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Yes. I have been here 5 years and I was getting 73 to gbp. It took a sharp hit to the current levels after the referendum but slowly recovered.

Yes.. Buses and jeepneys are banned. I couldn't get a tricycle to take me to a restaurant I am currently using.... Because they are banned if I understand correctly. Part or maybe all of the market has been closed down. I couldn't find a place to eat so I had to settle for bbq chicken to take home.

The owner of your sub division has now banned all visitors so I am told this evening.

The US state department has advised all US Citizens to leave Metro Manilla and cebu because of possible civil unrest due to the draconian measures taken by government. Happy days

Edit... I wrote this a couple of days ago but it failed to appear here. Maybe I didn't hit the submit reply button or it got lost in cyber space!


Regards
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Just look 8 posts up

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Completely agree. We have built our own house, so no rent, and without living extravagantly, I budget P66k a month.

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yes also agree. We go through at least 1000 gbp month. We have our own house ( no rent) and live in Tagaytay ( no need aircon) but we do run a car and do (did) go out for a few meals each week.
you can of course " go local " but not sure if you would really want to live like that for so long.

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​Hmm. I searched a few times this morning and couldn't find it. Senility has arrived! Thanks!

Regards