Pension income...?

[TacoGuy]

It's occurred that there are probably quite a few ex-military, police etc fellows here who are In Thailand because of a half decent public service pension. How do these pay and from what sort of age can they be drawn? I'm a few years off pension age (and private sector so no great pension) but am curious as to how some guys are able to make their pensions work quite well for them in Thailand.

[AlexRRR]

Im not there yet but not far away, i lived in BKK for a year back in 2012 so i know what it cost me to live, my Australian pension would more than cover my living expenses with money over, with some investment income i know i can live very well there, i also factor in buying a place once i move there which would reduce my monthly expenses by close to 30%.

The key to living a good life in Thailand is your choice of food, if you can eat Thai style most of the time, not to much drinking and dont go down that road of paying your gf/wife an allowance you will be more than fine.

[TacoGuy]

I don't think it's just food. You have to do something to, whether that's travel or bars or dining or shopping.

Actually, my question was meant GENERALLY not specifically. How much does say a 55 year old ex-army guy get for his pension? I didn't mean how much do YOU get as a pension (a bit rude) just how much are old guys living in Thailand living on. There just seem to be do many people on pensions surviving quite well in a Thailand which implies the pensions are quite decent.

[AlexRRR]

Australian aged pension is approx $1600 a month thats around 45,000.

[Brit_Doggie]

Many and i mean many live here with not the required pension income status,hence the need for agents who aquire retirement extensions for customers,so it's not how much you get but how much will you pay.

[TacoGuy]

Australian aged pension is approx $1600 a month thats around 45,000.

So I guess for some guys it's a case of living off $1600 in Aus. (or worse, living in social housing and $1600 in Aus.) or living out a modest life in Thailand. It makes sense that some go for the spicy option.

P.S. I like your posts but not sure I like your avatar. Just saying.

[AlexRRR]

Ahhh...i like this atvar since my previous football team (atvar) is total crap.

I think you will find many own there own homes and maybe more, the age pension is means tested so as you earn from investments over a certian limit your pension reduces.

Its become very expensive to live in AU, but the underlying reasons for me are not just money and quality of life, my allergy gives me much less problems there than here, my shoulders give me pain in winter and have trouble lifing them above my shoulders, i get injections start of winter but this year...hmmmm...didnt work to well lucky im off the tools these days, i lived there for a year, no pain and add the fringe benifit of pretty avaliablle women why would a single guy not want to move there?

[mesquite]

It depends on where you live. There have been threads in the Chiang Mai forum about how much it costs to live there. Check out the local forums and search it out.

Kind of like asking how much it costs to live in the US. Rural Texas is by far cheaper than downtown Manhattan.

Regarding pension, that, too, depends on variables such as rank, location, etc.

Retired four star US Army General with 40 years of experience might receive $237,144 US per year and yes you can live anywhere in Thailand on that, though it is taxed at the source so you might end up with 60 percent of it. Most 4 stars do not retire to Thailand, though. They work for contractors and make big bux.

Source: http://www.usatoday.com/story/news/nation/2014/01/07/military-pensions-four-star-officers/4359023/

Someone with a Social Security mental disability pension might get $1200 USD/ month, depending on the age he retired. You can live in Chiang Mai on that.

Finally, someone who worked off the books a lot of the time might get $500 US per month. Good luck, but one can live in Chiang Mai on that and it's going to be hard. If, however, he socked away a million or two USD, he can easily live on that.

Edited September 6, 2014 by mesquite

[AlexRRR]

Not to many Generals around and not many humans want to live in CM either, though i would like but alas im destined for a beach enviroment due to some unforseen but now visable health issue...but hey mention Hua Hin and half the women in Thailand happy to relocate with you there even if you on a pension.

[TacoGuy]

It depends on where you live. There have been threads in the Chiang Mai forum about how much it costs to live there. Check out the local forums and search it out.

Kind of like asking how much it costs to live in the US. Rural Texas is by far cheaper than downtown Manhattan.

Regarding pension, that, too, depends on variables such as rank, location, etc.

Retired four star US Army General with 40 years of experience might receive $237,144 US per year and yes you can live anywhere in Thailand on that, though it is taxed at the source so you might end up with 60 percent of it. Most 4 stars do not retire to Thailand, though. They work for contractors and make big bux.

Source: http://www.usatoday.com/story/news/nation/2014/01/07/military-pensions-four-star-officers/4359023/

Someone with a Social Security mental disability pension might get $1200 USD/ month, depending on the age he retired. You can live in Chiang Mai on that.

Finally, someone who worked off the books a lot of the time might get $500 US per month. Good luck, but one can live in Chiang Mai on that and it's going to be hard. If, however, he socked away a million or two USD, he can easily live on that.

Great article. Those are incredible pensions for US military personnel. It seems if someone manages to work 30 years + and not get killed in service they are in line for a six figure US$ pension figure! Amazed.

And 50% of final income for the more junior military careerists too. Not a bad deal.

[55Jay]

FWIW to you, I'm on a gov pension after 20 years service, punching out when I was 38 years old, followed by several years in the private sector. The key for us is the absence of house, car and kid payments, so we have a reasonably comfortable life on just the pension. The real nest egg from working in the private sector just sits in the background, doing what it does in a moderate growth portfolio.

I'm interested in what prompted you to ask this as, in reading your OP, you are not in the military or police service? Just some random thought one day?

[pmarlin]

I know of a retired U.S. Army Command Sargent Major , pay grade E-9. who is living here in Bangkok who gets $3363.00 army retired pay, $3017.60 VA disability pay and $1554.90 social Security for a monthly total of $7935.50 a month. at 31.5 thb converted that is about 250,000 thb a month. Plus the US Army covers 75% of his and his families medical expenses while here. That is for an enlisted person, Several American military officers Major and above are retired here and get more. Also each year the amounts are adjusted based on inflation and never adjusted down.

[pmarlin]

I know of a retired U.S. Army Command Sergeant Major , pay grade E-9. who is living here in Bangkok who gets $3363.00 army retired pay, $3017.60 VA disability pay and $1554.90 social Security for a monthly total of $7935.50 a month. at 31.5 thb converted that is about 250,000 thb a month. Plus the US Army covers 75% of his and his families medical expenses while here. That is for an enlisted person, Several American military officers Major and above are retired here and get more. Also each year the amounts are adjusted based on inflation and never adjusted down.

corrected spelling

[Huayrat]

As of now my pension is 110,000 baht per month was alot more 2 months ago but the pound has gone to shit... Ex Army and 43 years old.. been living here for 5 years retired..

[AlexRRR]

Lovely, should have enlisted in the US, Aussies dam cheap it seems.