jimlaw Posted November 24, 2005 Share Posted November 24, 2005 Help please anybody!!!I will be 60 years old next month and I want to retire to France in 2006.I will have my state and personnel pensions at age 65. Is there a minimum amount of cash per annum,for the next 5 years,I would have to show I have to be allowed to settle.Best regardsjimlaw Link to comment Share on other sites More sharing options...
Cat Posted November 24, 2005 Share Posted November 24, 2005 Hello and welcome to the forum The answer to the question you ask is no, as long as you are a citizen of one of he EU states already. As the carte de sejours is no longer mandatory, you have the right to live here in france without proof of income.However, you will still need some kind of income or capital in order to survive here (as anywhere). The actual amount will obviously depend on your expectations and life-style, but it would pay to start seriously researching the cost of life and quality of life you could expect here in france. Healthcare, utility bills, property taxes, renovation costs etc may be higher than you thought. Link to comment Share on other sites More sharing options...
Clarkkent Posted November 24, 2005 Share Posted November 24, 2005 One small point, jimlaw.On retirement at 60 the DHSS (or whatever it is now) will credit you with NI contributions until you receive your state pension at 65 ...... if you remain resident in the United Kingdom.If you move to France your state pension will not be maximised. Link to comment Share on other sites More sharing options...
Chesnelay Posted November 24, 2005 Share Posted November 24, 2005 Presumably if jim pays voluntary NI contributions to the UK for the 5 years then he will still maximise his state pension and be allowed to draw it whilst resident in France? Link to comment Share on other sites More sharing options...
Mutts Posted November 24, 2005 Share Posted November 24, 2005 As far as I'm aware the new regs for personal pensions (April 2006) will allow you to take up to 25% (in cash) of your fund, tax free, but only when you start taking your pension. That 25% if taken in France, is taxable. Link to comment Share on other sites More sharing options...
Deimos Posted November 24, 2005 Share Posted November 24, 2005 I believe you can pay voluntary class 3 contributions whilst not employed to UK. Discuss with the UK Centre for Non-Residents as there may be some ways to reduce these small costs even more (they have mentioned this to me a couple of times).Remember, if giving up work early, you will get an E106 for 2 years after which you will have to pay for your French health cover based on your income (which may be low, depending on your lifestyle).However, it can be done (not too difficult). Don’t be discouraged. Same as my own attitude. Decided lifestyle was more important than work so made the move. Whilst may say France is just as expensive as UK (may be true, I’ve no idea yet I live in France), I have found that my lifestyle in France is a lot cheaper than my lifestyle in the UK.Ian Link to comment Share on other sites More sharing options...
Hereford Posted November 25, 2005 Share Posted November 25, 2005 Mutts: That is no change to the current regulation on personal pensions. Not sure what exactly is happening in 2006 yet, although we do know that it seems you may not have to buy an annuity at 75, depending on how you deal with your fund.Mrs H has just taken her whole fund as a pension - it had a guaranteed rate above the current annuity rate and as has been said the lump sum if taken would be taxable here in France.It is usually worth paying the class 3 voluntary contributions. You can do this in arrears. Speak to Newcastle.H. Link to comment Share on other sites More sharing options...
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