It is possible to live in another country and receive the state pension, however you will only receive pension increases if you live in the UK for 6 months of the year, European Economic Area, Switzerland, a country that has a social security agreement.
If you decide to move abroad in retirement you have several options regarding your personal pension:
- To leave your pension in the current plan, if you have a defined contribution plan then you can access your pension from aged 55 of if not then you can claim your pension from your normal retirement date
- Transfer your UK pension into an approved scheme in your new country of residence
For more information on Retirement Abroad, please contact us.