I have been hearing stories about the pension squeeze that expats are feeling.

Prices are increasing in 3rd world counties, but the pensions are mostly fixed.

A lot of retired expats have to think hard about where to go to survive on their pensions.

$2000 USD may not be enough anymore.

Anybody else hearing this?

If you’re residing outside the EU your pension does not increase. This true for most EU countries, including UK.

Multipox wrote: ↑Thu Dec 13, 2018 7:42 pm
$2000 USD may not be enough anymore.

I don't see why $2000 wouldn't be enough unless you are being very extravagant or have dependents.

BTW, there hasn't been a "3rd world" since the cold war ended.

davegorman wrote: ↑Thu Dec 13, 2018 7:46 pm If you’re residing outside the EU your pension does not increase. This true for most EU countries, including UK.

Do you mean if you are EU and collect a pension and still live in EU then your pension increases with cost of living (COL) or something ?

But if you live overseas the same pension does not increase?

My post was really about price increases in the 3rd world countries. They seem to be squeezing the retired men out.

Multipox wrote: ↑Thu Dec 13, 2018 7:49 pm

davegorman wrote: ↑Thu Dec 13, 2018 7:46 pm If you’re residing outside the EU your pension does not increase. This true for most EU countries, including UK.

Do you mean if you are EU and collect a pension and still live in EU then your pension increases with cost of living (COL) or something ?

But if you live overseas the same pension does not increase?

My post was really about price increases in the 3rd world countries. They seem to be squeezing the retired men out.

Yes. Rises with inflation each year if within EU, and some other countries like Canada. I have a UK pension because I spent a long time there.

i live on less than $2,000 a month for two of us and we live very nice + I take 2,3 vacations/year
This year was in the states, road trip thru Thailand and Cambodia and a trip to Myanmar

Luckily my SS pension goes up about 2%/year
am now drawing $317/month LOL

in the past 5 years prices in Thailand have gone up about 15%, EXCEPT rents

From a UK pensioner perspective at least I'd say the devaluation of their currency relative to other currencies is more significant than the increase in real local prices. Lucky for me I bought the big items like a property and a car when our currency was worth 75% more in Thailand than it is today, so rent which is a major part of many guys expenditure is out the equation for me. I haven't really noticed massive changes in the price of the basics in my time out here but I guess if you start out on a tight budget without any slack you're asking for trouble.

I personally don't agree that pensions should be frozen when someone leaves their home country, UK in my case, as the potential drain on overstretched public services like the health system is probably more a cost to the country than say an annual increase of a couple of hundred quid on the pension if you don't live there. I'm in the UK this month and I seem to notice higher real price increases every 6 months here than I do in Thailand.

I will apply for 75 per cent usa social security soon.

I do not know how much i will get as there is some obscure totalisation formula used for those like me who have mostly worked in Australia.

My planned hedge against reduced income will eventually be a guesthouse with gardens and a lot of chickens. Maybe it will be in Mondulkiri on the edge of town

Multipox wrote: ↑Thu Dec 13, 2018 7:42 pm I have been hearing stories about the pension squeeze that expats are feeling.

Prices are increasing in 3rd world counties, but the pensions are mostly fixed.

A lot of retired expats have to think hard about where to go to survive on their pensions.

$2000 USD may not be enough anymore.

Anybody else hearing this?

Isn't the issue that a lot of Western countries will cut the actual pension paid if you live in (for instance) SE Asia because the cost of living is considered lower and amount of pension is decreased accordingly?

And then there's the exchange rate, especially for the people from the UK. They face a 25% drop overnight in june 2016, an maybe there's more to come over the next months. Pound just reached (nearly?) the lowest in two years a day or two ago.

Kammekor wrote: ↑Fri Dec 14, 2018 12:45 pm They face a 25% drop overnight in june 2016

Whaat?