"Easy Ride" for pensioners in Thailand now over, says Pattaya Radio

[Jingthing]

5 minutes ago, bwpage3 said:

Yes you can ask and I will tell you I live in Florida, USA right near the beach 

 

I have 7 figures in my Fidelity account with 10 more years of work to go, my contributions matched 65% per year from my company.

 

My social security should top out around US $7,000+/month at that time was well.

 

Still have no plans to move back to Thailand when I retire

 

10 years was plenty long enough and I don't have to move because I will be able to afford right where I am

 

Planning, planning, planning

 

 

 

 

7,000? I think not.

 

Quote

The maximum monthly Social Security benefit payment for a person retiring in 2018 at full retirement age is $2,788. However, the maximum allowable benefit amount is only payable to those who had the maximum taxable earnings for at least 35 working years. Depending on when you retire and how much you made while working, your benefits may be considerably less. The estimated average monthly benefit for "all retired workers" in 2018 is $1,404.

Read more: What is the maximum I can receive from my Social Security retirement benefit? | Investopedia https://www.investopedia.com/ask/answers/102814/what-maximum-i-can-receive-my-social-security-retirement-benefit.asp#ixzz5TSGz3Vtb

 

[Jingthing]

7 minutes ago, Issanjohn said:

Hopefully your embassy will correct their mistake or hopefully immigration will expect something else from you all from the UK.  

Why should they? The British government doesn't dictate Thai immigration policy. If this stands, Brits need to plan on using 800K baht applications. 

[The manic]

8 minutes ago, bwpage3 said:

Yes you can ask and I will tell you I live in Florida, USA right near the beach 

 

I have 7 figures in my Fidelity account with 10 more years of work to go, my contributions matched 65% per year from my company.

 

My social security should top out around US $7,000+/month at that time was well.

 

Still have no plans to move back to Thailand when I retire

 

10 years was plenty long enough and I don't have to move because I will be able to afford right where I am

 

Planning, planning, planning

 

 

 

 

Well bully for you and I guess there is nothing of relevance to you in this thread. If you are so wealthy why live here? You could be high on the hog's back in the Bahamas.  Why choose Thailand?

[Issanjohn]

16 minutes ago, bwpage3 said:

Sorry, you are incorrect.

 

There is only 1 Big Joke and he is this year.

 

1700+ arrests this year so I would assume those 1700 are probably worrying right about now

 

German arrested for 19 years overstay.

 

All of sudden after 19 years he gets caught?

 

Not the same at all.

You’re taking about people arrested for overstay just don’t overstay and you don’t have anything to worry about.  I’ve heard several stories over the past years of overstayers getting caught after over 20 years it does happen people beak the law and get caught.  Just obey the laws and never overstay they’ve been cracking down on overstayers for years now.  I think people are making it out to be worse than what it is people on this site always seem to do that whenever anything changes or there are new rules.  There’s always going to be changes we just have to try and roll with it.  It doesn’t do any good to get stressed out over it.  According to my local immigration office there are no changes coming.  

[Issanjohn]

5 minutes ago, Jingthing said:

Why should they? The British government doesn't dictate Thai immigration policy. If this stands, Brits need to plan on using 800K baht applications. 

Exactly my point the British Embassy is doing their own thing it has nothing to do with Thai immigration according to my local immigration office nothing has changed.  Talk to the British Embassy it’s their rules not Thailand’s rule.  

[Issanjohn]

Everyone just take a breath relax if you’re British write to your Embassador and talk to your embassy.  There’s always talk about new immigration leadership and potential changes I think everyone is overreacting.  Although I would be somewhat concerned if I were a British citizen.  I can understand how stressful the British Embassy change might be but at some point they’ll have to sort it out because immigration requires that document.  

[sawadee1947]

I think it will be only a matter of Brit's embassy. Maybe many Brits make it complicated to figure out their income. Also the Coming Brexit might have any impact. Poverty in sight! 

[Issanjohn]

If my embassy did this I’d be concerned as well and asking questions from my embassy officials not people in a chat room. 

[Jingthing]

1 minute ago, Issanjohn said:

Everyone just take a breath relax if you’re British write to your Embassador and talk to your embassy.  There’s always talk about new immigration leadership and potential changes I think everyone is overreacting.  Although I would be somewhat concerned if I were a British citizen.  I can understand how stressful the British Embassy change might be but at some point they’ll have to sort it out because immigration requires that document.  

I think the chances of the British embassy changing their minds is largely related to how much PUSHBACK they get from Brits about their announcement. If people don't complain, why should they care to work it out? They've already offered alternatives. The 800K baht method and also bogus advice of trying an income based application without an embassy income letter (which are required). 

[utalkin2me]

11 hours ago, darksidedog said:

Utter pile of rot. Yesterday I bumped into a visa agency guy I have known for years. He told me last week things looked tough. Yesterday, everything was back to normal. Has anyone here ever known a crackdown on anything to last more than a week?

I am sure there will be fun and games, and probably payments to deal with the proof of finances issue, but nothing of substance is likely to change.

Now that is how you start a paragraph folks. Good one. 

Edited October 9, 2018 by utalkin2me

[Jingthing]

2 minutes ago, sawadee1947 said:

I think it will be only a matter of Brit's embassy. Maybe many Brits make it complicated to figure out their income. Also the Coming Brexit might have any impact. Poverty in sight! 

As I said before, the acid test here is if this remains a British idiosyncrasy or if this spreads to other embassies. 

[Issanjohn]

1 minute ago, Jingthing said:

I think the chances of the British embassy changing their minds is largely related to how much PUSHBACK they get from Brits about their announcement. If people don't complain, why should they care to work it out? They've already offered alternatives. The 800K baht method and also bogus advice of trying an income based application without an embassy income letter (which are required). 

I don’t know about that because I go by my monthly income not my account balance.  It just depends on your situation.  

[Jingthing]

4 minutes ago, Issanjohn said:

I don’t know about that because I go by my monthly income not my account balance.  It just depends on your situation.  

Not sure what you're saying there.

The British embassy in their announcement said Brits could still do income applications without income letters from their embassy. At this point in time, I see no reason to believe that.

Thai immigration policy stands -- embassy letters needed for income based applications.

800K bank account applications of course not impacted.

[newatthis]

5 hours ago, Orton Rd said:

People who do not have what is a pretty low amount of money coming in, or in the bank probably should not be here anyway, for their own good.

It's the lack of logic here. They were quite happy to pay me 37000baht to teach & get me a work permit etc for years. But now I'm retired, they want me to have an income of 65,000 a month to stay here.

[Jingthing]

Just now, newatthis said:

It's the lack of logic here. They were quite happy to pay me 37000baht to teach & get me a work permit etc for years. But now I'm retired, they want me to have an income of 65,000 a month to stay here.

Yeah, well, it isn't really about logic. 

There are alternatives, bank account method or combination method.

I think most pensions are well under 65K anyway. 

[poanoi]

9 minutes ago, Jingthing said:

Yeah, well, it isn't really about logic. 

There are alternatives, bank account method or combination method.

I think most pensions are well under 65K anyway. 

well but the combination method is invalid if they keep rejecting pension letter proof,

alas 800k in bank or bust

Edited October 9, 2018 by poanoi

[SheungWan]

Oddly enough I know a couple of people who a year or so ago decided that the trip to the UK embassy to sort things out just wasn't worth the hassle any more and decided instead to go down the agency route. Both quite happy and report that it has been a smooth way to go. I doubt when I see them next month they will be in the slightest way bothered by the UK Embassy announcement.

[55Jay]

19 minutes ago, jimn said:

What a load of nonsence. We (Brits) have to provide documented proof of income to be able to get the letter. Where on earth did you get the suggestion from that it was anything different.

How do you know your esteemed embassy actually checks anything in those bits of paper you so dutifully hand in and boast about?

 

You seem sure, and I've always wanted to know:

 

Does the UK Embassy have unfettered access into another, totally separate department's system like this? 

 

What is the process for non-Gov/private pension verification? 

 

What is the process for non-standard and passive income - bank interest, investments, royalties, rental, internet work, consulting, etc....?

 

Given the relatively short turn around time, universal no matter the complexity of income, I presume computers are used in the process.  What kind of IT systems and access are we talking about here? 

 

In the likely event there is non-UK origin income, how does the UK Embassy employee access foreign systems and information?  What if it's in Chinese?

 

I suppose all that is very possible in today's modern age.

 

Which reminds me... who, specifically, does this checking?

• A Thai/foreign national administrative support employee?
• Or a vetted UK Citizen government employee with the god-level clearance required for this kind of access, and idle time to perform low level admin work.

All this.  For Thailand.  For reasons.

[SheungWan]

6 hours ago, Lewis711 said:

there is always the sandwich class...not enough for 800K, but enough for living in Thailand, it is the low cost of living that attract many living here aren't they?

I do not think that is a fair comment re equating either not having (or not wanting to place) 800k on deposit equivalent to a situation of poverty. Those who went down the income route fulfilled those requirements and that is all that was required. Having a spare 800k is a different issue. However, it appears to me that the agency route is at least a short term option now, while those concerned consider the deposit pathway logistics.

[Kinnock]

"British Embassy in Thailand does nothing to help British Citizens in Thailand"

 

No news here, move along .....

[sambum]

59 minutes ago, Jingthing said:

Yeah, well, it isn't really about logic. 

There are alternatives, bank account method or combination method.

I think most pensions are well under 65K anyway. 

But surely the combination method will be redundant as under the proposed system, there will be no letter forthcoming from the British Embassy, so the bank account method will be the only option?

[bwpage3]

2 hours ago, Jingthing said:

7,000? I think not.

 

Read more: What is the maximum I can receive from my Social Security retirement benefit? | Investopedia https://www.investopedia.com/ask/answers/102814/what-maximum-i-can-receive-my-social-security-retirement-benefit.asp#ixzz5TSGz3Vtb

 

Try it for a person retiring in 2037

 

In addition, the age at which you retire can affect your benefit amount greatly. If you retire at age 66 in 2018, your maximum benefit will be $2,788. However, if you have reached age 67 or older, you will be granted credits for your deferred retirement. In 2018, deferred retirement earns an additional 8% per year over full retirement age, up to age 70, meaning that if you retire at age 69 in 2018, your benefits will be 24% higher than those for someone retiring at 66 with the same earnings history

 

 

Edited October 9, 2018 by bwpage3

[Jingthing]

28 minutes ago, bwpage3 said:

Try it for a person retiring in 2037

 

In addition, the age at which you retire can affect your benefit amount greatly. If you retire at age 66 in 2018, your maximum benefit will be $2,788. However, if you have reached age 67 or older, you will be granted credits for your deferred retirement. In 2018, deferred retirement earns an additional 8% per year over full retirement age, up to age 70, meaning that if you retire at age 69 in 2018, your benefits will be 24% higher than those for someone retiring at 66 with the same earnings history

 

 

Yes, I know. But 7,000 per month. Hard to believe. 

[Jingthing]

48 minutes ago, sambum said:

But surely the combination method will be redundant as under the proposed system, there will be no letter forthcoming from the British Embassy, so the bank account method will be the only option?

For Brits, could be, unless the embassy reverses their policy or Thai immigration changes their policy on requiring embassy income letters. 

[Jingthing]

1 hour ago, SheungWan said:

Oddly enough I know a couple of people who a year or so ago decided that the trip to the UK embassy to sort things out just wasn't worth the hassle any more and decided instead to go down the agency route. Both quite happy and report that it has been a smooth way to go. I doubt when I see them next month they will be in the slightest way bothered by the UK Embassy announcement.

Unless there is a real crackdown on agency corruption, Which is possible if historically unlikely. 

[The manic]

1 hour ago, SheungWan said:

Oddly enough I know a couple of people who a year or so ago decided that the trip to the UK embassy to sort things out just wasn't worth the hassle any more and decided instead to go down the agency route. Both quite happy and report that it has been a smooth way to go. I doubt when I see them next month they will be in the slightest way bothered by the UK Embassy announcement.

But might be bothered by Agency clamp downs

[The manic]

32 minutes ago, bwpage3 said:

Try it for a person retiring in 2037

 

In addition, the age at which you retire can affect your benefit amount greatly. If you retire at age 66 in 2018, your maximum benefit will be $2,788. However, if you have reached age 67 or older, you will be granted credits for your deferred retirement. In 2018, deferred retirement earns an additional 8% per year over full retirement age, up to age 70, meaning that if you retire at age 69 in 2018, your benefits will be 24% higher than those for someone retiring at 66 with the same earnings history

 

 

Is this predicated on the assumption that we all are Americans with American pensions?

[The manic]

2 hours ago, bwpage3 said:

Yes you can ask and I will tell you I live in Florida, USA right near the beach 

 

I have 7 figures in my Fidelity account with 10 more years of work to go, my contributions matched 65% per year from my company.

 

My social security should top out around US $7,000+/month at that time was well.

 

Still have no plans to move back to Thailand when I retire

 

10 years was plenty long enough and I don't have to move because I will be able to afford right where I am

 

Planning, planning, planning

 

 

 

 

So if you are not living here and non of these issues are relevant to you why are you wasting our time on this forum? Join a Florida forum for smugs.

[bwpage3]

48 minutes ago, The manic said:

So if you are not living here and non of these issues are relevant to you why are you wasting our time on this forum? Join a Florida forum for smugs.

I did live in Thailand for 10 years,

 

We still own a rice farm and have family there.

 

Was smart enough to see the writing on the wall and came back to the US to make some big bank!

 

Planning doesn't make you smug, it makes you smart (smart as in having a parachute before you jump smart)

 

Thailand is still Thailand. Land of coups and ever changing regulations depending on who is in charge.

 

Wasn't bad for expats under Thaksin however as you can see, whenever you live in the third world, things can change with no concern to expats welfare at all.

 

People that really want to live the rest of their lives out in Thailand should have the 800,000 baht in the bank, never to be touched.

 

Don't even get me started on those old folks that do not have adequate insurance. Recipe for disaster sooner or later.

 

 

 

 

[Jingthing]

3 minutes ago, bwpage3 said:

 

...

People that really want to live the rest of their lives out in Thailand should have the 800,000 baht in the bank, never to be touched.

,..

Should? 

It seems wiser to me to spend down that account during the year and top it up annually when using the 800K baht method. 

But I would never be so arrogant as to suggest everyone SHOULD do it that way.