• UK
  • 00:29 25 Nov 2009
  • |    Bogotá
  • 18:29 24 Nov 2009

What happens when you retire

When you retire

Going to live abroad is a major decision to take. It makes sense to get a wide range of information and advice to help you plan and make sure the move goes smoothly. Some of the main things to consider before you go follow below.

Make sure you have a valid passport, any visas and a full health plan.

Be clear about your financial situation. For example, find out about tax liability in the UK, social security benefits and National Insurance contributions, and get a pension forecast. Useful websites include www.dwp.gov.uk, www.hmrc.gov.uk and www.direct.gov.uk (under 'Britons living abroad’). You can also find out whether offshore banking is appropriate.

Make a will.

Check whether you can continue to vote in UK Parliamentary and European Parliamentary elections (www.electoralcommission.org.uk).

Find out about accommodation. We can provide lists of lawyers to help you buy property, although we cannot give you legal advice ourselves or get involved in purchases or disputes.

Make sure your car is in line with local regulations and you have the necessary driving permit.

Try to learn the language before you go.

Contact associations and charities for advice. For example, if you are retiring overseas, you could contact Age Concern (www.ageconcern.org.uk), Help the Aged (www.helptheaged.org.uk) and The Association of Retired Persons over 50 (www.politics.co.uk). There is also a guide to going abroad for over 50s on www.saga.co.uk. We have a leaflet called ‘Retiring overseas: essential information’, and you can find details on our website. If many British people live in a particular place, we also put information about living and working in the country on our local British Embassy website. This includes the contact details of local and government organisations that should be able to give you more help and advice.

It sounds obvious but let people know your new address (and any future changes). You’ll want to tell your friends and family, but you also need to inform the authorities such as HM Revenue and Customs, National Insurance and the Department for Work and Pensions.

When you arrive, register with the local authorities and get a residence permit. You can also register with the local British embassy. You may also need a local bank account.

British nationals who live overseas can receive the same support as visitors (as set out in this guide).

And you’ll need full travel insurance for your trip, or health care and other appropriate cover if you are living abroad. The Government cannot cover medical costs or refund you for lost property.

There is a charge for some types of consular support. This is to help cover the cost of providing support worldwide. We do not make a profit from these charges.



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