# Retire to Spain



## ThamesmeadHammer (May 25, 2020)

Hello all,

Thank you for allowing me to join the forum.

So, my wife & I are planning to retire to Spain in the next 5 or so years and we are beginning to put wheels in motion.

Plan is to rent in Spain, not sure where at the moment and to finance this we have a flat in London which we will sublet to the local council and live off the income as well our small pensions & any savings.

So the next 60 months will be filled with asking questions, learning Spanish, understanding the effect Brexit will have and looking at regions to live in.

Stay safe

TMH


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## Lynn R (Feb 21, 2014)

ThamesmeadHammer said:


> Hello all,
> 
> Thank you for allowing me to join the forum.
> 
> ...


Welcome to the forum. I presume you know that it is likely (unless some kind of new agreement is reached between the UK and Spain) that after the transition period ends on 31 December 2020, British citizens wishing to move to Spain to live off the type of income you describe will need the non lucrative visa which non EU citizens in those circumstances have to obtain. It involves having to show a minimum income of €25,861 for a single person and €6,454 for each additional family member, ie just over €32k for a couple (those are this year's figures, they go up in line with increases in the Spanish minimum wage). In addition you will need private health insurance (for at least the first year) although after that you could pay into the public system which currently costs €60 per person per month for those aged under 65 and €157 per person per month for those aged 65 and over. The cost of any medication needed is not covered by that so 100% of the costs of that would need to be paid. Again, if no agreement is reached to the contrary, the UK Government will no longer pay for the healthcare of UK pensioners living in Spain or any other EU country after the transition period ends, if they were not already registered as resident there on 31 December 2020.

https://www.expatforum.com/expats/s...hcare-pensioners-moving-after-31-12-20-a.html

Almost all insurance companies increase health insurance premiums very sharply once policyholders turn 65 so funding healthcare and the cost of medicines is likely to become very expensive for UK citizens wishing to move to Spain in the future, once they become pensioners.


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## Roy C (Sep 29, 2012)

So if you get your residency prior to Jan 1st 2021 what will you pay for prescriptions, full price?


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## Joppa (Sep 7, 2009)

Roy C said:


> So if you get your residency prior to Jan 1st 2021 what will you pay for prescriptions, full price?


That depends on your age. Under 65, you pay 40-50% of the cost according to income with no cap. 65+ pay 10%, capped between around 8 and 20 euro/month depending on income, and capped at 60 euro for income exceeding 100,000 euro.


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## Roy C (Sep 29, 2012)

Thanks Joppa, so basically that's the same as those who have been here for years, excellent. I intend to have mine done in September.


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## xabiaxica (Jun 23, 2009)

Roy C said:


> So if you get your residency prior to Jan 1st 2021 what will you pay for prescriptions, full price?





Joppa said:


> That depends on your age. Under 65, you pay 40-50% of the cost according to income with no cap. 65+ pay 10%, capped between around 8 and 20 euro/month depending on income, and capped at 60 euro for income exceeding 100,000 euro.


State pensioners & S1 holders in Valencia & some other regions get free prescriptions. 


The other figures quoted above are for working people using the state system. If you aren't able to access state healthcare, or do so via the convenio, the full cost of medication has to be paid.


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## Isobella (Oct 16, 2014)

ThamesmeadHammer said:


> Hello all,
> 
> Thank you for allowing me to join the forum.
> 
> ...


5 years is a long time to look ahead. What happens now could be totally different. Best to keep reading the forum as all the changes are discussed on here.


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## Roy C (Sep 29, 2012)

xabiaxica said:


> State pensioners & S1 holders in Valencia & some other regions get free prescriptions.
> 
> 
> The other figures quoted above are for working people using the state system. If you aren't able to access state healthcare, or do so via the convenio, the full cost of medication has to be paid.



That's great, so that means if I do the residency this year then in a few years time when I hit pension age I will qualify, as before, nice and much better than expected after the brexit fiasco.

Thanks xabiaxica, that's good news.


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