Retirement abroad: where Germans prefer to live now!

Retirement abroad: where Germans prefer to live now!

Wieden, Österreich - more and more German retirement dealers are moving abroad, where they want to enjoy their retirement. The neighboring countries Austria and Switzerland are particularly popular. According to Merkur , 29,000 German pensioners have already decided in Austria, which is reflected, for example, in vibrant cities such as Vienna, Salzburg and Inn. A total of 98,000 pension payments are transferred to foreign pensioners in Austria, which makes it clear that the country is a sought -after goal for retirees.

Switzerland follows with 26,000 payments to German pensioners. Here, however, the cost of living is higher than in Germany, which could be a crucial criterion for some. Spain secures the place on the podium of the most popular retirement destinations, where 23,000 German pensioners live. It turns out that the south of Europe is attractive for many retirees.

The best emigration goals

But how does life abroad continue to differ? According to pensioner24, four decisive aspects are relevant for a good life in retirement: money, health, quality of life and the living situation. With an average pension of 1,152 euros per month, it will be difficult for many pensioners to live carefree in Germany. It is all the more worth taking a look at the cost of living in other countries. Spain (11% cheaper), Greece (19% cheaper) and Bulgaria (45% cheaper) appear particularly attractive.

A common concern when moving abroad is the question of what the pension looks like. Information from the German Pension Insurance indicate that the pension payment remains unchanged during a temporary stay. Even with a permanent move to an EU country or Switzerland, the pension is usually still being transferred in full. The situation is different if there is a move to a country without a social security agreement, because there could be restrictions, which is why advice is advised before moving.

In order to ensure a smooth process, timely information from the pension service is important. This must be done at least two months in advance if the bank details changes or a move is due. The transfer of the pension to a foreign bank account is the safest method, whereby additional fees can be incurred for transfers outside the SEPA room.

After all, tax aspects also play a role in retirement abroad. In the event of stays under six months, the tax liability remains unchanged, while with a permanent move the basic allowance is no longer necessary and taxation takes place from the first euro. The 90 percent rule enables an application for unlimited tax liability if the majority of the income comes from Germany.

Overall, it turns out that many Germans are actively working on spending their retirement in one of the most sought -after countries. The exchange about living costs, health care and pension claims is crucial for a carefree time abroad.