how much is you pension?

[Jingthing]

40 minutes ago, Johnniey said:

Did you say how much you earn?

 

Yes I did already. 

[Thunderbirds20]

the worst part of living on a fixed pension in Thailand is the volatile money exchange. My pension is from Canada. Last year it increased by .55 cents, but the exchange rate dropped from 32 baht to 24, and is now up a bit again to about 26, ... but that is still a loss of 6 baht for every dollar. 

 

On the other end, prices are increasing so my pension does not go nearly as far as it used to .... I am taking a big step in 2 weeks time and returning to Canada to live.

 

At least there, I get Medical Coverage, even for pre-existing illnesses. ... and after a year, I can apply for income supplement, ...which is not available if you do not reside in Canada

[wwest5829]

I am thinking this is a topic better suited for a survey with income brackets. In Southern US cultural norms, you do not ask this question as it is rather personal. Like asking a woman's age.

 

That said, I was born North of the Mason-Dixon Line. But...no "pension", as I think that refers to a "defined benefit" from a company as deferred compensation. US Social Security about $1200.00 based on 41 years of teaching in Kentucky. Then I draw an equal amount from saved retirement/inherited funds. Cannot afford to live in the US on $2400 a month, so...here I am suffering terribly (said tongue in cheek)!

[R123]

2 hours ago, 55Jay said:

Mine is 500,000 Baht per month.  But I live in a 3,000 Baht/mo 17sq meter fan room on Soi Hump Hump and dine on 30 Baht rice and monkey balls.  Livin' the Dream, mate!    

U are paying far too much for the rice; can get it for 10 baht where i live...

[F4UCorsair]

3 hours ago, micmichd said:

Same with Germait Hartz IV. Everyone can get it, even those who never worked in their life, never went to school,  never did anything except crying for more and more and more. 

 

Way too many parasites In life, and not just Australia apparently.

Once weak/soft policies are Introduced by soft c**k socialist politicians, currying favor with the base classes In an attempt to secure votes, It becomes very difficult to reduce those 'benefits' and the workers are sgtuck with paying, yet again, for politicians' gross stupidity'.

[55Jay]

21 minutes ago, R123 said:

U are paying far too much for the rice; can get it for 10 baht where i live...

I'm all over that!  Where? I could save just enough to afford my own internet instead of siphoning off my neighbor.

[soc]

l get a pension from my Superannuation fund.

lts my own money that l paid into the fund.

l also have shares that pay a dividend.

Once again, shares from money that l saved.

l get nothing from the Government as they say that l have too much money in the bank & too many assets.

Doesn't matter that l was frugal(not mean!)& saved money that l earned.

l have a friend, the same age as me, who l worked with for 10 years, on the same pay.

He bet all his pay on the horses & p!ssed it up against the wall & doesn't have a cent to his name,

He gets a FULL old age pension. While l get none.

Where is the incentive to save?

l'm not bitter as l have ample money & a good life.

Much better than his.

But its a strange state of affairs when you get rewarded for waste & penalised for saving.

[MahasarakhamMitch]

 

Pension = Fantasy for my generation

 

I have accepted that fact, so I don't spend any time pondering about it.

 

 

 

I agree with you and don't want to rely on a fantasy that pensions will around in 25 years time. If they are then that is great and my wife and I will get a state pension worth about £300 per week at today's rates.
I am 43 and saw a few friends private pensions wiped out. I do have a small old fashioned final salary company pension that I was part of for a few years that will pay out £400 a month at aged 55.
Instead my wife and I have ploughed all our spare money into land in Thailand and property in outer London. Our family home is mortgage free and would bring in a rental of £1500 per month. Our other two houses in the UK will be mortgage free in 15-20 years and provide a rental income or an asset to sell.
Maybe I'm doing the wrong thing but I trust bricks and mortar in the UK rather than a smartly dressed pensions advisor

[Foozool]

21 hours ago, guzzi850m2 said:

OP didn't say how much he is getting himself, which I find odd!

 

Since I am below 55, I still have a long way to go before any pensions can be had.

 

I have found out that in order to get pension from my home country, I have to been living there for 30 years, counting from 18 until pension age; 67 (oh shit it's 68 now). I am 3 years short, so are thinking about moving my address home for some years at some stage.

Then I can get app 9.000US$ per year but I will be taxed of that, bastards.

Thinking about it, hardly worth it man.

Are you talking about SS ? I did not know that it is required 30 years of living in the US.

Have you ever paid any tax ? I thought 40 points needed only.

Many other nationalities come to US and work for sometime ( of course less than 30 years)  and they will be qualify to get pension in their own countries and they are not even US Citizens.

I have paid tax for 20 years, but I have not lived in the US for 30 constant years !!!

 I'm expecting my SS at 76. I am in early 50ies now.

Perhaps you know more things that I did not know. Please share it.

 

 

Edited September 17, 2016 by Foozool
adding more

[4MyEgo]

11 hours ago, catman20 said:

another millionaire ? BAHT ? 

 

I think he was referring to the taxes he has to pay, e.g. 1 mil plus, meaning he is broke ?

[4MyEgo]

9 hours ago, pmarlin said:

$97.000 a year or about 3.4 million baht.

 

Is that super (lump sum payment or pension ?

[Foozool]

5 hours ago, jmd8800 said:

My father used to say 'never count another man's time or money ... it is not your business'.

 

But I will say: Thanks to the 2008 financial crisis my monthly pension was reduced by about 1/3 and 60,000USD in annuities disappeared.

Many people lost $$$ in those black 8 years. Insurance sales increased (Job insurance) from 2001(I guess some people could see the future better me).  I lost my Electronics business and I lost the rest of my income when some banks began bankruptcy.

I try not thinking of those years.

[4MyEgo]

8 hours ago, manfredtillmann said:

 

when i migrated to australia in 1981 as a self - financed immigrant i entered into a ' contract' with the then government. and part of this contract was the commitment of the commonwealth to pay me the standardised government pension upon me reaching the age of 65.

 

in australia income tax payments contain a levy for government health insurance and government pension. other countries, like germany, might actually call these tax components by name, but there are still TAX.

 

apart from 'running the country', which they really don't, perhaps they administer it, and not too well for all i care, my tax payments also finance welfare payments to the needy and the not so needy ones, foreign aid, warfare etc., and these components are also not shown separately in my tax assessment.

 

my personal provisions for my retirement and my present life are not superannuation, i make all my current income from residential investment property. why that appears to give the oz government an excuse to not pay me is beyond me.

 

I hope you are still an Australian resident for tax purposes, because they would be fleecing you in tax $'s as a non resident having investment properties.

[4MyEgo]

6 hours ago, F4UCorsair said:

I partly ahree/agree (can't edit).  Everybody should get a pension based on their tax contribution.  On that basis, I'd be on a couple of hundred thousand a year.

 

I think you're wide of the mark on entering Into a contract with the government though.

 

As an aside there are 580,000 people In Australia, known as DEETs (Sorry, NEETs, can't edit), an acronym for Not In Employment, Education or Training.  They refuse to work, and continue to draw the dole, almost $200 a week, and that's costing the workers almost $6 BILLION a year!!

 

Execution comes to mind.

 

Couldn't agree with you more, but then again, we Ozzies shouldn't forget, if it wasn't for Australia, we wouldn't be here.....lol 

 

Where is George, I thought he would be gloating here, or reminding us all that we shouldn't forget that if it wasn't for our country, we would be here, is there an eco ?, that and how we are NOT entitled to a pension, because our taxes are for infustructure, e.g. Centrelink and politicians BIG pensions.

[guzzi850m2]

43 minutes ago, Foozool said:

Are you talking about SS ? I did not know that it is required 30 years of living in the US.

Have you ever paid any tax ? I thought 40 points needed only.

Many other nationalities come to US and work for sometime ( of course less than 30 years)  and they will be qualify to get pension in their own countries and they are not even US Citizens.

I have paid tax for 20 years, but I have not lived in the US for 30 constant years !!!

 I'm expecting my SS at 76. I am in early 50ies now.

Perhaps you know more things that I did not know. Please share it.

 

 

I am a Dane.

 

It's getting harder and harder to get any public pensions if you are an expat Dane and live outside EU. They rather pay for the Middle East so called refuges where +75% don't want to work and just go the the mosk (or whatever they call it) and pray and thank Allah for their good fortune living in DK. 

 

Thankfully I got some private pensions, one is payed out when I turn 60 and the other ones at 65, one of them is a lifelong yearly amount (not much but it all counts). 

[4MyEgo]

6 hours ago, Aussieroaming said:

zip. same as others, I work o/s and dont live in Aus so would need to move back there and prove 2 years residency to even apply. Fat chance of that ever happening given its another 18 years down the track.

 

 

 

That and the fact that they will probably stop it being portable, if it will still in fact be in existence by then.

Edited September 17, 2016 by 4MyEgo

[4MyEgo]

6 hours ago, Johnniey said:

I'd love to retire in Oz or Scotland

 

Then you would want to be rich, because its ridiculously very expensive in Oz, e.g. if you had a mil in the bank, the interest wouldn't be enough to pay your rent in Sydney.

[4MyEgo]

Too young for the pension now 56 self retired, can go back to Australia for 2 years prior to turning 65 or 67 or whatever it is, probably 70 by the time I reach it, if I do, the cost to stay for 2 years Vs not being here in Thailand wouldn't be worth the amount that they would pay me, if I proved residency.

 

Learned a long time ago, work hard, invest as best you can, timing is everything, and get out early, so that you can enjoy the sun while its still shining, best decision I ever made.

[augustwest]

My Grandfather was one lucky coot. 6 months after the US passed the SS bill he retired and lived to 99 years and 10 months

[sirineou]

I am 59 years old, vested in my union and could retire right now if I wanted, but every year extra I work, I get an other $200 per month increase on the pension I would get, so I will give it until 62 and see how I feel. This will allow me to take the reduced monthly payment option, and my wife would get my pension for life, this should really screw my union, since my wife is considerably younger than me. 

As to how much? Non of your biz-wax 

 

[Gary A]

I will make a factual statement about part of my private pension. I worked for Chrysler for 22 years until they sold the factory. I was offered a job to stay with Chrysler if I moved to Cleveland, Ohio. I would rather starve to death than live in Cleveland. I get a whopping $366.43 per month. It seems not much for 22 years but it is better than nothing.

[rickudon]

Most of the early reply's  were from fairly well off retirees. After 26 years working for the UK government i was laid off and was unable to get any full-time work in the next 3 years, so took my pensions aged 58 and moved to Thailand. How much? Enough so i still get over 40,000 baht a month, enough for my marriage visa. This assumes Brexit doesn't sink the pound in the next few years. Unfortunately it has already shafted quite a few, going by the posts on Thaivisa  of those who no longer qualify and want advice.. There is a state pension still to come, but that will be 22,000 baht BEFORE tax (assuming that will also survive the Brexit bonfire). No chance of a retirement visa in the future. I think i am on a fairly typical British pension.

[Johpa]

Being a US citizen and never having worked for the government there is no pension, only a modest social security benefit that would allow a very modest low budget life in Thailand or below the poverty line life in the US unless I wanted to relocate to the middle of nowhere or Detroit.  Meanwhile most "first responders" I know have, by their middle 50s, found a sympathetic doctor who has determined they are suffering from some debilitating pain that provides for disability and/or early pension, mostly the type of pain that my independent contractor friends work through every day until their bodies are too broken to work anymore, usually at around age 70.  And then there are all the double dippers in the public sector who get a pension and then go to work for another government agency and get a second government pension.  And these are the same people who complain about "welfare queens".  But of course as a non-government worker, I am not allowed to have a job if I collect social security which shows that social security is something other than a pension.  So by US standards no pension for this taxpayer.  Fortunately I am quite happy with a future modest low budget lifestyle in Thailand living without aircon in a small village drinking weak Sang Som sodas.

[Grubster]

Four pensions = $6065 US per month. Easy to live the life here, but not that great in many places in America.

[Grubster]

2 hours ago, sirineou said:

I am 59 years old, vested in my union and could retire right now if I wanted, but every year extra I work, I get an other $200 per month increase on the pension I would get, so I will give it until 62 and see how I feel. This will allow me to take the reduced monthly payment option, and my wife would get my pension for life, this should really screw my union, since my wife is considerably younger than me. 

As to how much? Non of your biz-wax 

 

If you don't include your wife you will get considerably more per month. The union is the people you used to work with.

 

3 hours ago, Foozool said:

Many people lost $$$ in those black 8 years. Insurance sales increased (Job insurance) from 2001(I guess some people could see the future better me).  I lost my Electronics business and I lost the rest of my income when some banks began bankruptcy.

I try not thinking of those years.

It wasn't a crises for the wealthy, The Big bank and wall street CEO's made millions each in bonuses for being crafty enough to get Bush to give them $800,000,000,000. Yeah thats the right amount of zero's.

[Grubster]

33 minutes ago, Johpa said:

Being a US citizen and never having worked for the government there is no pension, only a modest social security benefit that would allow a very modest low budget life in Thailand or below the poverty line life in the US unless I wanted to relocate to the middle of nowhere or Detroit.  Meanwhile most "first responders" I know have, by their middle 50s, found a sympathetic doctor who has determined they are suffering from some debilitating pain that provides for disability and/or early pension, mostly the type of pain that my independent contractor friends work through every day until their bodies are too broken to work anymore, usually at around age 70.  And then there are all the double dippers in the public sector who get a pension and then go to work for another government agency and get a second government pension.  And these are the same people who complain about "welfare queens".  But of course as a non-government worker, I am not allowed to have a job if I collect social security which shows that social security is something other than a pension.  So by US standards no pension for this taxpayer.  Fortunately I am quite happy with a future modest low budget lifestyle in Thailand living without aircon in a small village drinking weak Sang Som sodas.

I have a great private pension from America. The one that that no good union forced me to pay into all those years. Add SS and my 401K I paid into and life is good.

[Johpa]

1 hour ago, Grubster said:

I have a great private pension from America. The one that that no good union forced me to pay into all those years. Add SS and my 401K I paid into and life is good.

 

Yes, there are a few private pensions from corporations left. The people I personally know that have such private pensions all worked for one of the major defense contractors.  There may be others.  But for most working class people there are no true pensions. And congratulations on your good life.  My life is also good, just very modest in nature.

[pmarlin]

16 hours ago, 4MyEgo said:

 

Is that super (lump sum payment or pension ?

Monthly payments for life with cost of living increases each year. Plus life time health insurance for Me and wife. Reimbursed 75% of my cost.

[4MyEgo]

25 minutes ago, pmarlin said:

Monthly payments for life with cost of living increases each year. Plus life time health insurance for Me and wife. Reimbursed 75% of my cost.

 

That's about 283,000 baht a month, you have definately taken the cake, congrates

[gammelnok]

19 hours ago, guzzi850m2 said:

I am a Dane.

 

It's getting harder and harder to get any public pensions if you are an expat Dane and live outside EU. They rather pay for the Middle East so called refuges where +75% don't want to work and just go the the mosk (or whatever they call it) and pray and thank Allah for their good fortune living in DK. 

 

Thankfully I got some private pensions, one is payed out when I turn 60 and the other ones at 65, one of them is a lifelong yearly amount (not much but it all counts). 

Well - that's new to me. According to the official rules, if meeting the requirements, the mandatory basic sum of state

pension is to be paid regardles to residency choosen. Weather that's a small sum or not is up for discussion, guess most

wouldn't like to live on it though.

 

Have a great day.

Rasmus