# Pension??



## Jonny5 (Dec 14, 2010)

Hi

I've been working in Spain for about a year now and I love the lifestyle and the job and definitely want to stay for many more years. It has come to my attention though that because i'm paying taxes to Spain and not to my home country (England) that i'm not going to get my full pension if I don't work enough years in England, and as I said I would love to stay for many years yet. 
So i was wondering if I get a Spanish pension and if i could combine what i've already built up in England with what I get in Spain? If there is nothing I can do about it does anybody have any advise on setting any pension plans up? because i want to keep working abroad but i also want to be able to retire and not have to worry about money.

Any advice would be much appreciated thank you.


----------



## Alcalaina (Aug 6, 2010)

Jonny5 said:


> Hi
> 
> I've been working in Spain for about a year now and I love the lifestyle and the job and definitely want to stay for many more years. It has come to my attention though that because i'm paying taxes to Spain and not to my home country (England) that i'm not going to get my full pension if I don't work enough years in England, and as I said I would love to stay for many years yet.
> So i was wondering if I get a Spanish pension and if i could combine what i've already built up in England with what I get in Spain? If there is nothing I can do about it does anybody have any advise on setting any pension plans up? because i want to keep working abroad but i also want to be able to retire and not have to worry about money.
> ...


Hi Jonny, I´m sure it must be possible because they are both in the EU and have reciprocal pension arrangements, but I would advise you to check with an official source. Be aware also that both countries are changing their pension rules at the moment.

Find out more here:

HM Revenue & Customs: National Insurance Contributions, Retirement Pension Forecasts and advice for those abroad


----------



## 90199 (Mar 21, 2010)

Perhaps you should think seriously about a private pension. You could then pay in to the plan from wherever you work in the world.

Do not rely solely on the British old age pension, otherwise you will be old, cold and hungry,

Hepa


----------



## Calas felices (Nov 29, 2007)

*Pension*

Don't forget if you pay into the social security system in Spain (this is in addition to income tax) you will have to do so for 15 years until you even start getting some pension.


----------



## djfwells (Sep 28, 2009)

How old are you and how many years have you paid into the UK NI system ? It 'may' be worthwhile considering making Voluntary contributions to make up your full entitlement. If you do this make sure that you advise them that you are an overseas resident first of all before they calculate your forecast. PM me if you need any more info, I've just sorted this out for myself


----------



## mattferrier (Oct 18, 2010)

Jonny5 said:


> Hi
> 
> I've been working in Spain for about a year now and I love the lifestyle and the job and definitely want to stay for many more years. It has come to my attention though that because i'm paying taxes to Spain and not to my home country (England) that i'm not going to get my full pension if I don't work enough years in England, and as I said I would love to stay for many years yet.
> So i was wondering if I get a Spanish pension and if i could combine what i've already built up in England with what I get in Spain? If there is nothing I can do about it does anybody have any advise on setting any pension plans up? because i want to keep working abroad but i also want to be able to retire and not have to worry about money.
> ...


you can transfer your pension pot to an offshore facility that will give you more benefits and allow you to continue to pay into it. there are also other options as moving it may not always be best advice once you take into consideration costs involved and possible benefits you may lose from moving it.
cant say too much more as dont want to be slammed for advertising links.
i cant personally help you due to your location. but if you are after info then pm me


----------

