Retirement and pensions in Spain - 6th December 2023

[@patoleary4310]

Very informative Steve your are a one stop shop for travel information cooking food eateries and now pension information is there no end to both of your talents here's to a long and healthy retirement to both of you. 🎉

[@SteveandAnitainMallorca]

Thank you Pat.

[@dianeleahy3345]

It is similar here, the longer you work the more money you get, which I think is fair. Thanks Steve.

[@SteveandAnitainMallorca]

It does seem a fair system.

[@JillF-yf2fe]

Thank you for your latest video. I taught Science in the UK for 33years and then took early retirement in 1990 and moved to Mallorca. I have now been retired 33 years! I wish you and Anita many many happy years in retirement. I am sure that you find, as I did, that you wonder how you ever had time to go to work. One joy is the contact that I now have with ex-pupils from as long ago as the 1960's thanks to social media. Many of them have also retired now!

[@SteveandAnitainMallorca]

Thank you, I too enjoy hearing from former pupils, who now live throughout the world.

[@SteveandAnitainMallorca]

Thank you, I too enjoy hearing from former pupils, who now live throughout the world.

[@tombartram7384]

A lifetime academic, greengrocer's apostrophe's?

[@JillF-yf2fe]

The 1960's is appropriate for an international audience, which internet definitely is. If you want to be insular, then I agree that 1960s would be the right way to write it.@@tombartram7384

[@JillF-yf2fe]

@@tombartram7384 The 1960's is appropriate for an international audience, which internet definitely is. If you want to be insular, then I agree that 1960s would be the right way to write it.

[@tommymoffat5633]

Really interesting Steve. I think learning about other countries ways of doing things fascinating

[@SteveandAnitainMallorca]

Glad you found it interesting Tommy.

[@ashislam4723]

Informative Steve. Yes I do agree with that system of the more you contribute due to your job the better the pension. Certainly it seems fairer than the UK. It also explains the way that elder Spanish people dress. Certainly we could readopt this idea, but it would never happen as pension age increases as the government hopes people do not get to that age! I expect you both to have many more years to enjoy your well earned pensions😊

[@SteveandAnitainMallorca]

Thanks Ash. It is an interesting topic. There are consequences though. Social security payments are very high with the employer paying the lions share. Self employed people get a raw deal, paying a lot into the system and getting little out of it.

[@PKOK72]

Very infomative Steve, many thanks.

[@SteveandAnitainMallorca]

Glad it was helpful!

[@faithg9766]

That was interesting. The year since you retired has gone so quickly. I am one of those who wonders how I had time to work, do you and Anita fall into that category?

[@SteveandAnitainMallorca]

Very much so! We never seem to have the time to do some things.

[@marianrussell6089]

I've watched this video a few times now, we have often thought about moving to mallorca, a bit if a process from whatxqe can see, I'm 70, hubby 73, both have good company pensions plus state pension , hopefully we might get to do it at some point soon. Really love these updates, thankyou. Plus want to sell our somerset property towards it.

[@SteveandAnitainMallorca]

It is a very big decision to make and a lot more complicated with Brexit.

[@janemorgan-cm9tj]

An interesting insight. Thank you.

[@SteveandAnitainMallorca]

Glad you enjoyed it!

[@berylmullen6686]

Very interesting Steve. I don't know if this is for all/most pensioners in the UK but I get 13 payments per year. It's paid every 4 weeks, so for 1 month, I get 2 payments. However, I learnt recently you can still request weekly payments! X

[@SteveandAnitainMallorca]

Thanks for that, I didn't know.

[@chrisfinch2807]

Good info Steve

[@SteveandAnitainMallorca]

Thanks Chris.

[@margaretfrost9065]

I was reading recently how poorly paid we are in England but then we didn't pay in as much as the Spanish. Spanish pensions came high on the list. I only get half of what a poor Spanish pension is. I realise why some British retirees have to come back . I hope you and Anita have many many happy and healthy years in retirement. P.S. I now get 25 pence extra as I am over 80 😂

[@SteveandAnitainMallorca]

I think that the Spanish workers who are employed and pay into the system get a very good pension, but many don't complete the required year and don't get the full pension. 25 pence!!!

[@RockyFretz]

Thanks for all the good info Steve. My wife Kimberly and I are wanting to retire in Spain from the USA next year. So, any information about that, how to do so, people to contact, etc is very much appreciated. If not, thanks for sharing, and enjoy!!

[@SteveandAnitainMallorca]

As far as I am ware, you will need a non-lucrative visa unless one of you has, or can obtain, an EU passport.

[@TravelonlineWalk]

Top news

[@SteveandAnitainMallorca]

Thank you

[@pamelapattison7921]

Hi Steve i retired 3 year ago 3 month befor my birthday i saved enough money to cover all my Bill;s and everything els only was i did not know was DWP Pay 1 month in arrears so in stead of me getting mine in April i got my first payment in May , but if i died today and ny pension due tomorrow and someone took it out i BET THEY WOULD WONT IT BACK plus i worked 33 years full time but was not better off by £200 a month

[@SteveandAnitainMallorca]

The Spanish system seems to be better and fairer, rewarding those who work. My pension came through in January, having retired on 31st December.

[@Simon-jj2pu]

Living in Spain now, I am on a U.K. state forecast which I cannot improve anymore and it is £1k more than the normal one, also I only needed 28 years. All due to contracting in and out of the second state pension in the 1990s

[@SteveandAnitainMallorca]

Hope you continue to enjoy living in Spain.

[@SteveandAnitainMallorca]

Hope you continue to enjoy living in Spain.

[@maryrosed8475]

Sounds a good pension. In Ireland also depends on how many years you worked. I get the full amount of 265.30 euro per week and it goes up when I reach 80!! We get an extra payment in December. I also have a small work pension. Pensions are added together and taxed! If you live alone there are more benefits like fuel allowance etc. Fuel allowance is means tested which is hard on us as our fuel bills are high. This year and last year every household did get something of Electricity. But we pay into Private Health Insurance which is expensive. Unfortunately the demand on the Public system is great. You might wait years to be seen. But the Public Hospitals are great if you can get to them. But it is great to be retired and free to do your hobbies or even take a walk when you feel like. Steve & Anita have a wonderful Christmas holiday.

[@SteveandAnitainMallorca]

Thanks for your reply Maryr, it is interesting to hear how different countries compare. Hope you have a good Christmas too.

[@tunnel7]

Wow £368 a week not bad that Steve

[@SteveandAnitainMallorca]

It varies a lot depending on how much you have worked, but if you have worked all your life you are well rewarded.

[@michelleporter6672]

Hi Steve, what line of work were you doing in spain?

[@SteveandAnitainMallorca]

I used to be a teacher.

[@Eduardo-vd8kk]

Sin haber cotizado quince años o incluso sin haber pagado nada, puede recibir 710€ si cumple algunos requisitos. Saludos Steve.

[@SteveandAnitainMallorca]

Gracias Eduardo.

[@martinfarnworth2144]

That was interesting to hear about pensions in Spain it sounds like Spanish pensioners. Get a good deal. You had your work cut out today with the dogs, the chainsaw the car, but you did well Keep going Steve nice to see your little videos

[@SteveandAnitainMallorca]

Thanks Martin. It always seems to happen, I go out and it is quiet and someone decides to start digging with a jackhammer.

[@doruolaru7221]

It must be very hard to live on a thousand euros a month. If you add the property taxes, utilities, car insurance, house insurance, health insurance it probably takes the most of one’s pension. For a couple it’s not too bad I guess but you have to be careful how you spend the money.

[@SteveandAnitainMallorca]

It would be very difficult in Mallorca. Many people have to continue working beyond retirement age. Property taxes are low, public transport is free, the health system is free, even so it would be hard on a thousand euros.

[@tombartram7384]

For every retired person who takes his grey pound abroad another shops closes down in Britain and opens up in Spain. (I might do it myself by the way)

[@SteveandAnitainMallorca]

We left nearly 40 years ago and never looked back.

[@Barbara-yj5tl]

Do you have to pay tax on your pensions Steve? Here we pay tax if we get over 12,570 per yr.

[@SteveandAnitainMallorca]

Yes, there is income tax to pay, but not social security (NI).

[@alanpashley6396]

And you get your youtube money as well not bad.

[@SteveandAnitainMallorca]

Every little counts.

[@Martin-iy1dj]

I thought you were a little over 65, but not saying you look old, just older than 65.

[@SteveandAnitainMallorca]

I am 66 now, but retired at 65 at the end of December 2022.