Popular Post sonjack2847 Posted November 23, 2016 Popular Post Posted November 23, 2016 A friend said to me before I left the UK"go what have you got to lose, If it doesn`t work out you can always come back and at least you gave it a go" So I gave it a go and am still here after nearly 6 years. You never know until you try. If you try to find reasons not to go you will still be in the UK in 10 years time. 7 Link to comment Share on other sites More sharing options...
Popular Post Nephi Posted November 23, 2016 Popular Post Posted November 23, 2016 15 hours ago, stevewool said: Now many of us have private pension and the lucky few have final salary pensions too, and not let us forget our state pension. So add these together and could life be good in the Phil's, I am sure that some will say they can't live the good life where they are on that amount I know we are all different in what we would like and what we demand too, but if you have a budget and in your eyes it's good well life can indeed be good, Again I have been sitting here and adding this and that up and on paper it does look good and at the end of the day I may not even make it to retirement day never mind working out a 20 year plan. I've found that even having COPD/emphysema I feel better and my body does better here in the Philippines than back home. One, we live in a rural area and pollution is at a bare minimum. A bigger factor in maintaining good health is an almost complete lack of stress as well as good fresh foods. On the financial end of things, yea, I think we all have a goal in mind to live on each month that will provide a level of living we can enjoy. After being married to my wife for quite a few years now, I have a policy that I simply do not get involved in much of the money issues and or messing with paying the bills. I know what's what with the amounts etc but choose to say out of most of it. We have our pensions deposited to a local Philippine bank and thanks to my wife's budgeting abilities we live comfortably on about $700.00usd per month. That is all inclusive except for my medications that run about P14,000 per month. Also, my wife works a full time job that she enjoys and that pays for extra trips to the mall etc with the kids and some local travel. So if you have someone that can handle the finances and do the purchasing, you can greatly reduce the cost of living. I did all that for enough years when living and working in the States and it's awful nice to be able now to just enjoy life and not worry about the $$$. The money is in the bank for my wife and kids when I'm gone and as it is now it does not take a lot to live even raising 4 daughters. Living here is or can be a lot less expensive that you think. Just takes being with the right person and living in the right area to do it. 7 Link to comment Share on other sites More sharing options...
stevewool Posted November 23, 2016 Author Posted November 23, 2016 Thanks all for your comments , i shall have to ask Emma to look into her pension and what age she can get it, but that could be hard,. It has been mentioned medical insurance and i am sure someone before said what is the point if you are so far away from a hospital and stuck in traffic and ou cant get to the hospital, lots of money then wasted it seems, My self and Emma has said it the worst happens the dont wast money prolonging our lives and again each to there own on this. We are close on our plans . 4 Link to comment Share on other sites More sharing options...
Snowy79 Posted November 23, 2016 Posted November 23, 2016 3 hours ago, sonjack2847 said: I think you should check on the private pension. The government said anybody can take their private pension at age 55. I'm sure the Government are reviewing the ability to cash your pension in at 55. They've also increased the women's pensionable age. From December 2018, the state pension age will start to increase for both men and women to reach 66 by October 2020. The Government is also planning further increases, which will raise the state pension age from 66 to 67 between 2026 and 2028. 2 Link to comment Share on other sites More sharing options...
sonjack2847 Posted November 23, 2016 Posted November 23, 2016 32 minutes ago, Snowy79 said: I'm sure the Government are reviewing the ability to cash your pension in at 55. They've also increased the women's pensionable age. From December 2018, the state pension age will start to increase for both men and women to reach 66 by October 2020. The Government is also planning further increases, which will raise the state pension age from 66 to 67 between 2026 and 2028. Well if they are reviewing the ability to cash a private pension then I`m glad I took mine out.I might just get the state pension at age 66,or maybe 266 if they keep putting the age up 2 Link to comment Share on other sites More sharing options...
Eddie1 Posted November 23, 2016 Posted November 23, 2016 Sitting here reading all these excellent points about private pensions and government pensions made me realise that I am 10 years away from my retirement day TODAY! I am scheduled to retire on the 23/11/2026. Like Kevin says the government could of course raise the bar again but I guess an extra wait of a few months or even another year wouldn't be a disaster, however my worry is that it isn't inconceivable that in that 10 year duration there could be changes in the rules that would affect the government pension being paid out to people living overseas, now that would hurt! 3 Link to comment Share on other sites More sharing options...
Popular Post Snowy79 Posted November 23, 2016 Popular Post Posted November 23, 2016 I feel for those in the early 40s. I can see the state pension as we see it getting phased out due to the Government making it compulsory to provide a work based pension for employers with strict criteria if they try to opt out. They're also in discussions as to making it compulsory for self employed people to pay into a pension fund. Purely for the UK personnel but I've seen my pension age increase and on top of that they've changed my pension increments from the consumer price index to the retail price index which is a large reduction. They've also increased national insurance contributions from 30 years to 35yrs and thrown in a few more clauses just to make it even worse. I joined the forces on my 16th birthday, served 24yrs and have worked constantly since leaving the forces yet they say I still don't qualify for a full state pension due to my military service. I'll only be able to live in the Philippines due to purchasing a condo which will free up a large portion of my pension. Even the fall in price of the pound Sterling has cut my pension by a further 10%. Something that has to be taken into consideration for those relying purely on a pension. 6 Link to comment Share on other sites More sharing options...
Kuya John Posted November 23, 2016 Posted November 23, 2016 4 hours ago, Eddie1 said: Sitting here reading all these excellent points about private pensions and government pensions made me realise that I am 10 years away from my retirement day TODAY! I guess it's then Eddie 4 Link to comment Share on other sites More sharing options...
JJReyes Posted November 23, 2016 Posted November 23, 2016 12 hours ago, expatuk2014 said: Just let me go peacefully, i watched the late mother suffering before she died and i dont want the family To worry about money keeping me alive. but again thats just me You need to have a Medical Directive expressing your wishes. A common directive is "Do Not Resuscitate" if in a coma. The life support systems are removed after the doctors read you document. 1 Link to comment Share on other sites More sharing options...
stevewool Posted November 23, 2016 Author Posted November 23, 2016 11 hours ago, sonjack2847 said: Well if they are reviewing the ability to cash a private pension then I`m glad I took mine out.I might just get the state pension at age 66,or maybe 266 if they keep putting the age up 66 for me, so thats 8 years time and there is no way i will b working then, ok maybe working on my tan bt thats fine. Like i have said i have a few private pensions too, but with half of that gone its down to save save SAVE, so i have to do lots of planning t make sure its the right time and thing to do 1 Link to comment Share on other sites More sharing options...
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