Retirement Monthly Income Transfers

[gk10002000]

Many of the monthly income expats over 50 on Retirements are aware of the changes to the monthly income method and policies for the UK, US.   One now has to spend time and money setting up regular monthly transfers, no lum sums aggregated over 2 or 3 months.  I was just looking over the Philippines and digging into the details of an over 50 SRRV Expanded Courtesy Visa:  The PI also seem to want a "regular" transfer.  And their words Pension or similar benefits don't really spell out what sources of income could be used.  for those without pensions, or not starting social security yet, would they count Stock and bond dividend and interest?  I will be getting way more each month than they require, but anybody got experience using "similar benefits"?  My investment portfolio is not a benefit in any normal use of the word, except it is the benefit of many years of hard work, long hours and simple basic conservative investing and not too many bad or expensive habits.

 

Actually as I read the fine print, this expanded courtesy is not for anybody over 50.  There are other requirements such as retired Officers.  So every time I look at PI stuff I get different words!

 

, Page 24, sentence a:  At least 50 years old with a monthly pension or any other similar benefits of at least $US 1,000 which shall be regularly remitted to the Philippines.

Edited October 15, 2019 by gk10002000

[Sheryl]

Moved to visa for other countries forum as no tThailand related.

 

You would have to find out the documentation requirements but I suspect that it will be as in Thailand, that what they will want is local bank statement showing regular transfers in from abroad and nit care  what the source is beyond that.

 

If they do want proof then one option would be to liquidate some investments and purchase an annuity for yourself. When fund sources are looked at, the key issue is whether it is guaranteed, which income from investments are not.

 

While offering lower interest, annuities (if from a reliable institution) are safer than investments and have the added advantage of ensuring you cannot outlive your savings.