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Looking at the very low reaction to this post ,I must assume there are many ex-civil Servants out here that have lived on the tax payer all there so called "working" lives and are still doing so  on fat Government Pensions ?

 

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IMO pensioners from any country in Thailand are doing much better than the many people here and overseas that have lost their incomes due to COVID-19, so perhaps one should keep quiet about the subject.

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13 minutes ago, DaveCW said:

 

 

As for folk losing jobs in the current climate, whilst this is indeed sad and unfortunate, it is very far from the point and nothing to do with putting this obvious wrong, right. What about those who may have retired here 20-30 years ago, their pension has never increased in that time. Do you have any sympathy for them, clearly not.

I'm Australian, the government indexes our pensions. Having said that, Centrelink does have other forms of mongrel for those living overseas. Such as losing about 20% of the single pension if one marries a foreign national.

People who retired here 20 or 30 years ago, assuming pensions were frozen then, IMO failed to plan properly. If it's a matter of shifting goalposts, yes, they have my sympathy.

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2 hours ago, Lacessit said:

IMO pensioners from any country in Thailand are doing much better than the many people here and overseas that have lost their incomes due to COVID-19, so perhaps one should keep quiet about the subject.

Why?

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5 hours ago, andy8017 said:

Looking at the very low reaction to this post ,I must assume there are many ex-civil Servants out here that have lived on the tax payer all there so called "working" lives and are still doing so  on fat Government Pensions ?

 

Not really …, but i think   many other country's members on TVF and do not freeze their nationals pensions ….at least my country does not , and on 10 years it made a reasonable upgrade / compensation for rising living costs  …..

Edited by david555
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7 hours ago, billd766 said:

 

I get fed up with seeing this question coming up time and time again. If the worlds financial "experts" can't plan more than a month or two ahead using all the information available what chance do you think most of us have of getting it right?

 

Did you see Covid coming and the disaster that has turned out?

 

I imagine that you are planning your retirement based on age 30 with full employment until you retire? Now you may be furloughed and perhaps you may have lost your job, so what happens to your retirement plan now?

 

I planned properly in 2002. Who in 2002 could see as far as the 2008 crash, or the 2016 Brexit referendum, Covid, or the strength of the Thai baht nowadays?

 

Can you, or anybody accurately predict for example the forex rate between the GBP and the THB in one years time from today? All you can do is to do the best that you can with the information that you have at the time of your planning and hope that it isn't too far out year on year, and that there will be no financial or serious medical problems worldwide in the next 30 or 40 years. 

 

What will happen to your retirement plan if there is a serious war between the USA and China, or perhaps an all out war in the Arab Gulf and the price of oil triples?

I think you are confusing me with a much younger person. I've been retired for 12 years.

No-one can plan for the black swan events you have mentioned. Having said that, IMO depending on a government pension alone when retiring to Thailand is extremely foolish. Yes, I get a government pension, but it is a part pension. I have capital back in Australia which is earning income as well. Even if it stopped paying interest entirely, it will last beyond my death.

I also have the ability to adjust my current rate of expenditure downwards, others don't have that luxury.

I spent six months researching various countries before settling on Thailand as my retirement destination. Permit me to doubt a majority of people take that long.

 

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7 hours ago, evadgib said:

Successive British Ambassadors, DHM's and/or first secretaries have made abundantly clear that they're not in the slightest bit interested in this anomaly & in most cases their reaction when asked has been somewhere between complete indifference & 'serves 'em right!'

 

(The latter wasn't exactly obvious but it is exactly what one of the above meant...)

 

HTH

 

I think it was BMT that informed me the British did not rule the world by being nice.

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7 hours ago, Lacessit said:

I think you are confusing me with a much younger person. I've been retired for 12 years.

No-one can plan for the black swan events you have mentioned. Having said that, IMO depending on a government pension alone when retiring to Thailand is extremely foolish. Yes, I get a government pension, but it is a part pension. I have capital back in Australia which is earning income as well. Even if it stopped paying interest entirely, it will last beyond my death.

I also have the ability to adjust my current rate of expenditure downwards, others don't have that luxury.

I spent six months researching various countries before settling on Thailand as my retirement destination. Permit me to doubt a majority of people take that long.

 

I wasn't pointing a finger at you but at a few other posters over the years.

I spent over 5 years working in Thailand and met by current wife here, so I knew that I would retire here.

 

I get a state pension and 2 other pensions from the UK and was doing very well until the forex rate caught me out. Now we are doing OK but could do with a better forex rate.

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6 hours ago, BritManToo said:

I came here on a 2 week holiday from a nasty divorce ....... ended up staying 11 years (2 year gap in the middle).

No thought or planning from me,

...... and the divorce put paid to my financial planning, reducing my 36Kgbp/year pension at today's rate significantly.

 

Back in the UK, they still don't know I've left, it's not their business.

Are you saying your pension is not frozen, because the government thinks you are still in the UK? I don't know how that works, don't think I want to.

I must admit I did not plan on having a GF here; however, it's worked out well.

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18 hours ago, evadgib said:

Successive British Ambassadors, DHM's and/or first secretaries have made abundantly clear that they're not in the slightest bit interested in this anomaly & in most cases their reaction when asked has been somewhere between complete indifference & 'serves 'em right!'

 

(The latter wasn't exactly obvious but it is exactly what one of the above meant...)

 

HTH

 

 

That is not my understanding.If the subject is raised with them Embassy staff correctly point out that the matter is nothing to do with them.I am sure they feel nothing but sympathy.

 

The hard political truth, reinforced by events over the last 10 months, is that there will never unfortunately be any inflation based uplift.

 

The realtiy is - and this is my view - any retired person who is mainly reliant on his UK state pension probably should not be in Thailand at all.

 

 

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