Among the nearly two million French people living abroad. A third of them are senior citizens who choose to move abroad when they retire. If you’re retired and dreaming of changing your life, why not take the plunge?
But don’t forget that your number-one priority should be your health! Before you leave, take out retiree health insurance to protect yourself.
Preferred destinations for retired expatriates?
If the countries of residence of these expatriates are anything to go by, the sun attracts a good number of retirees. Spain, Morocco and Portugal top the list of favorite countries for retired expatriates. They are closely followed by the United States (particularly Florida, where many retirees settle). Tunisia and Senegal complete the list. It’s true that in France the sun doesn’t come out every day! Expatriation to countries such as Mauritius and Brazil is less talked about, but is also on the increase.
How are healthcare costs abroad covered?
There’s no simple answer here, and it depends on your country of origin and your country of destination. If you are a European Union national retiring to another EU country, you can easily obtain partial coverage of your healthcare costs. This is one of the conditions for the free movement of people within the Union. If you are retiring outside the European Union, you will either have to stay abroad for less than 90 days to continue to benefit from your home country’s health cover. You can also take out international health insurance. Benefits and rates vary depending on the retiree health insurance you choose, your age and your destination.
How can your years worked abroad be taken into account when calculating your pension?
If your home country has signed a bilateral pension agreement with the country in which you worked, you can have the periods you worked included in your pension calculation.
For France, here are the countries that have signed an agreement allowing you to benefit from quarters worked abroad: Algeria, Andorra, Argentina, Benin, Bosnia-Herzegovina, Brazil, Cameroon, Canada, Cape Verde, Chile, Congo, Côte d’Ivoire, Gabon, Guernsey, Isle of Man, India, Israel, Japan, Jersey, Kosovo, Macedonia, Mali, Mauritania, Monaco, Montenegro, Morocco, Niger, New Caledonia, Philippines, French Polynesia, Quebec, Saint-Martin, Saint Pierre et Miquelon, Senegal, Serbia, South Korea, Togo, Tunisia, Turkey, United States, Uruguay.
Watch out! Nonetheless, there is a rule that conventions must not be combined. The calculation of quarters will only include quarters completed in one country in addition to your country of origin… There are some relaxations to this rule when this country has also signed an agreement with your country of origin and the country where you have spent another part of your career…
How to prepare for retirement abroad?
Moving abroad for retirement involves a number of essential administrative steps. To ensure that your departure takes place under the best possible conditions, here is a summary of the key stages to consider:
- Tax assessment: Consult a tax expert to understand the tax implications of your expatriation, both in your home country and in your destination country. This includes inheritance taxes and double taxation agreements…
- Social security and health insurance: Find out about your social security entitlements in your destination country, and take out international medical cover. It offers more comprehensive coverage, both in terms of the variety of treatments available and geographical coverage.
- Visa and residence permit: Depending on your destination, you may need a long-stay visa or residence permit. Consult the embassy or consulate of your destination country for details of requirements and procedures. Please note that for many long-term visas, proof of health insurance is required. Get a quote for your expatriate abroad insurance today!
- Driver’s license: Find out about the validity of your driver’s license in your destination country, and how to obtain a local license if necessary.
Mondassur can help you make the move to your new country.
As a senior citizen, one of the major concerns of your expatriation will be the coverage of your medical care. Mondassur offers you a wide choice of retiree health insurance with specific expatriation cover, for a worry-free expatriation. If you would like to find out more about our expatriate insurance products, consult our expatriate insurance comparison, request a quote or contact us.
