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-   -   Retiring abroad, Pensions, banks, medical insurance (https://britishexpats.com/forum/thailand-154/retiring-abroad-pensions-banks-medical-insurance-932899/)

Sbrowne87 May 28th 2020 6:49 am

Retiring abroad, Pensions, banks, medical insurance
 
When retiring, and want to live thailand. Do people get there pensions paid into uk bank account and transfer to a thai account as and when needed?

Is state pension tax free if you live in thailand,

What do people do about medical insurance.

Thairetired2016 May 28th 2020 4:25 pm

Re: Retiring abroad, Pensions, banks, medical insurance
 

Originally Posted by Sbrowne87 (Post 12858787)
When retiring, and want to live thailand. Do people get there pensions paid into uk bank account and transfer to a thai account as and when needed?

Is state pension tax free if you live in thailand,

What do people do about medical insurance.

It is your decision whether you want your pension paid in UK, transfer as needed, draw from ATM or have money sent straight to Thai account.

You can apply for a Thai tax no., declare your income if you live more than 183 days/tax year (Jan to Dec) in Thailand.

Private medical insurance you need to buy in UK or you can buy in Thailand. Beware, don't be older than 65. There is no NHS like medical cover for non-Thais.

I don't know your reason for choosing Thailand. Thailand is not without hitches. E.g. if you happened to be out of Thailand at the time of lockdown, you would still be out, only Thai citizens, diplomats are allowed back. Having a Thai wife, kids, Elite visa etc. don't count. Nobody knows when they will reopen.
Are you aware of entry requirements and visa to extend for retirement purpose?
www.Thaivisa.com may be more useful for info than this forum.

Sbrowne87 May 28th 2020 5:25 pm

Re: Retiring abroad, Pensions, banks, medical insurance
 
Well I will have a private pension before my state pension which has to be paid in a uk bank so I may aswell get my state pension paid too. Unless getting it paid in thailand benefits in any way.

I will be 57 when I retire.

Lockdown is just a one off scenario. Few years till I retire yet so I'm just looking into thing

Thairetired2016 May 29th 2020 5:31 am

Re: Retiring abroad, Pensions, banks, medical insurance
 

Originally Posted by Sbrowne87 (Post 12859065)
Well I will have a private pension before my state pension which has to be paid in a uk bank so I may aswell get my state pension paid too. Unless getting it paid in thailand benefits in any way.

I will be 57 when I retire.

Lockdown is just a one off scenario. Few years till I retire yet so I'm just looking into thing

You need to show a monthly pension of 65,000 THB or have 800,000 in a Thai bank account to be able to apply for a retirement ext. of your visa. 400,000 need to stay in your account.

Sbrowne87 May 29th 2020 5:43 am

Re: Retiring abroad, Pensions, banks, medical insurance
 
That will not be a problem.

As for the monthly in goings of 60 000 baht. Can this be transfers from uk bank? I believe private pension can only be paid into a uk bank account.

Thairetired2016 May 29th 2020 7:32 am

Re: Retiring abroad, Pensions, banks, medical insurance
 

Originally Posted by Sbrowne87 (Post 12859252)
That will not be a problem.

As for the monthly in goings of 60 000 baht. Can this be transfers from uk bank? I believe private pension can only be paid into a uk bank account.

Yes, this can be remitted monthly at present. Be warned, rules in Thailand change without much advance warning. By the time you retire there may be a different set of rules.

Sbrowne87 May 29th 2020 1:47 pm

Re: Retiring abroad, Pensions, banks, medical insurance
 
Yes totally agree. Just wanted to get a feel of hoe things are done


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