Thinking of moving abroad, what about State Pension.

[7plusthinking]

Partner is nearing 50, worked for decades, has private pensions, I'm in the same boat. We are thinking about starting a new life overseas and wonder what will happen to my state pension?

I wont be close to retirement age, but I've certainly paid in over 10 years, do I go the international state pension centre when I hit 66 ?

We are thinking of going to a EEA country, run a B and B for the next 10 years.

I can't give you any advice about the state pension, but I wanted to write that it sounds like a fun plan! Do you have a specific country or area in mind?

Try posting on the Living overseas-board here on Mumsnet, they might be able to answer your questions.

Good luck!

https://www.mumsnet.com/talk/living_overseas

I think you need to pay in for a certain amount of years to qualify for a state pension. If you are entitled, each country has different rules. In some, you can receive your uk pension index linked each year, in others there are no increases from the point you take it. Maybe check the government's website first to see if you qualify, then check what the rules will be on taking it where you are going.

Thanks @SkaneTos / @Turmerictolly !!

We are looking at Portugal!

Think in eu countries like Portugal you get the full increase each year. I do in France and didn't se the difference.

You need to check your state pension forecast
Check your State Pension forecast - GOV.UK

If you need further years to get to the maximum amount, then currently you can make voluntary contributions for years as they arise (or up to six years in the past) after you move to continue to build up the amount. And provided you are working in the UK now and you continue to work after you move I think you can pay the cheaper Class 2 amount rather than Class 3 - you'd have to check with the International Pension Centre / HMRC.

10 gives you minimum state pension, you usually need 35 years to get full state pension. I don't know about the being overseas bit, but if you've only contributed for 10 years it won't be much either way.
www.citizensadvice.org.uk/debt-and-money/pensions/types-of-pension/state-pension/#:~:text=in%20April%202016.-,The%20full%20basic%20State%20Pension%20you%20can%20get%20is%20%C2%A3,to%20get%20the%20full%20amount.

50 is very young to retire especially with only ten years paid in. And you won’t get it for another 17 years at least. What else will you live on? Have either of you got a decent workplace or private pension provision and when can you take it?

Pensions are transferable

The 35 years isn't quite right. It can be anything from 29 years to 50 years depending on your work history. You need to check your pension forecast.