Pension
Aug 13th 2008, 12:35 pm
#1
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Thread Starter
Joined: Jul 2008
Location: Alfaz area
Posts: 72
Pension
Hi Folks, new member here. Just wondering if anybody (couples or single) are trying to "survive" on uk state pension. I have a reasonable private pension but I still worry about inflation a few years down the road,
Ed (tuk-tuk)
Ed (tuk-tuk)
Aug 16th 2008, 2:41 pm
#2
Ex Expat
Joined: Oct 2006
Location: West Midlands, ex Granada province
Posts: 2,140
Re: Pension
I do know people who manage on State Pension. They have no mortgage or rent to pay though.
We live on my husband's Teachers' Pension (reduced as he took it five years early). However, one-off large expenditure has to come from savings.
The cost of living is going up in Spain as elsewhere but it is still cheaper than the UK for many things imo.
We live on my husband's Teachers' Pension (reduced as he took it five years early). However, one-off large expenditure has to come from savings.
The cost of living is going up in Spain as elsewhere but it is still cheaper than the UK for many things imo.
Aug 17th 2008, 2:51 pm
#3
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Joined: Mar 2007
Location: Costa Valencia
Posts: 14,800
Re: Pension
The problem with answering this sort of question is the fact that people 'live' different lifestyles so it is very hard to say whether they are 'existing successfully' or not.
We always say that living in an ordinary house (not a villa with pool) in Spain is possible on a low income. As an example the communitity tax in UK for a 2 bedroomed ordinary property works out roughly the same as all of the normal bills in Spain except food and drink.
We managed the last two years on a small company pension but now have my basic state pension so feel less restricted but are still on a budget. If we were in the UK we would still both be working full time to pay the bills.
Rosemary
We always say that living in an ordinary house (not a villa with pool) in Spain is possible on a low income. As an example the communitity tax in UK for a 2 bedroomed ordinary property works out roughly the same as all of the normal bills in Spain except food and drink.
We managed the last two years on a small company pension but now have my basic state pension so feel less restricted but are still on a budget. If we were in the UK we would still both be working full time to pay the bills.
Rosemary
Aug 17th 2008, 4:21 pm
#4
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Thread Starter
Joined: Jul 2008
Location: Alfaz area
Posts: 72
Re: Pension
Not sure of the fact but I seem to remember that if you only have a state pension in the uk then you will get help with your rent etc, which is the governments way of admitting that the pension is not sufficient but at least it is reassuring to know that you get help in the uk (which they wo'nt give us in Spain)???. Ed.
Ed.
Aug 17th 2008, 4:56 pm
#5
Ex Expat
Joined: Oct 2006
Location: West Midlands, ex Granada province
Posts: 2,140
Re: Pension
Yes, I agree with Rosemary - we have a modest house away from the coast, it has no land at all and no pool. However, we bought it outright and therefore have no rent or mortgage.
My husband's Teachers' Pension is less than he would have in the UK if we were claiming State Pension as a couple from the husband's NI (once the UK Government have made it up to the £180-odd a week they say a couple must have to live on), and certainly less than two people each with State Pension in their own right. However, he also receives some Incapacity Benefit,but it is still less than £180. We try to save the IB for one-off or expensive item expenditure.
I'm glad to say we still have both our State Pensions and my Local Government Pension to come, but for now we live for the best part on a minute income, by UK standards.
Again as someone says, I think it depends on lifestyle - we drive one ten-year-old car, don't smoke, don't go pub crawling (although we do go out to the village bar sometimes), buy cheap clothes and don't have Sky TV, broadband internet or air conditioning.
In case I'm making it sound all like doom and gloom, we do use our car a lot, we go around in the countryside sightseeing, exploring villages, sampling local bars and taking photographs. This is what we like to do.
Hope this helps!
My husband's Teachers' Pension is less than he would have in the UK if we were claiming State Pension as a couple from the husband's NI (once the UK Government have made it up to the £180-odd a week they say a couple must have to live on), and certainly less than two people each with State Pension in their own right. However, he also receives some Incapacity Benefit,but it is still less than £180. We try to save the IB for one-off or expensive item expenditure.
I'm glad to say we still have both our State Pensions and my Local Government Pension to come, but for now we live for the best part on a minute income, by UK standards.
Again as someone says, I think it depends on lifestyle - we drive one ten-year-old car, don't smoke, don't go pub crawling (although we do go out to the village bar sometimes), buy cheap clothes and don't have Sky TV, broadband internet or air conditioning.
In case I'm making it sound all like doom and gloom, we do use our car a lot, we go around in the countryside sightseeing, exploring villages, sampling local bars and taking photographs. This is what we like to do.
Hope this helps!
