At the time of retirement, the French dream of exoticism, peace and serenity. After a long working life and an often busy professional career, it’s time to take full advantage of a time off to take care of yourself, but also to enjoy a calmer life, away from daily concerns. While some French dread this period because of the loss of resources associated with it, others choose to go and experience these moments abroad. A decision that continues to make more and more sense. Decryption.
When the time comes for retirement, some French people decide to go live abroad, a process that is entirely possible thanks to the legislation currently in force. It is thus possible to receive your pension in your country of residence if steps have been taken to continue to receive your pension abroad. You must therefore report your change of address, as well as your possible modification of bank details, while providing a life certificate, which must be returned each year.
To ask for your care to be paid for by your country of residence, you must have a pension from the general scheme, but also live long-term in a country of the European Union or one of the of those who have signed an agreement containing provisions on the right to health care with France. Despite all these precautions and procedures, things sometimes get complicated during a retreat abroad.
As our colleagues from TF1 Info explain, depending on the country chosen, it is possible that some French people will come to regret their choices, according to the rules put in place by the country. Portugal is thus one of the favorite countries of the French for their retirement, but it is now experiencing very high inflation and the end of a tax exemption which is undermining the daily lives of French expatriates.
According to a meeting with French people who moved to Portugal, economic conditions have deteriorated considerably and led to a drop in the standard of living. Inflation has, in fact, led to a 20% rise in prices over the past year and Portugal is now one of the countries most affected.
Among the budget items that have exploded, housing tops the list with prices having tripled in ten years, even if these sums remain half as high as on the Côte d’Azur. It must be said that, to attract the French, Portugal had done well by setting up a system of total tax exemption, guaranteed over 10 years.
However, this measure ended in April 2021 while the regime is now less favorable to those who have arrived since. Newcomers will have to pay 10% tax, but are not subject to the general tax system. For the others, they continue not to pay taxes until the promised deadline of 10 years.
