Which Country's Pension?

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Which Country's Pension?


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  #1 (permalink)  
Old 4th December 2009, 08:31 AM
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Default Which Country's Pension?

This is looking quite a way ahead but my husband turned 60 this summer so we are thinking of retirement in a few years and we'll probably stay in Greece when we do.

There seem to be a lot of people on this forum who are far more knowledgeable about financial matters than I.

When he retires he will have paid almost 30 years into the UK social security system and about 15 years into the Greek one (TEBE not IKA)

We've been told he can claim a pension in both countries or transfer all the contributions into one. We've also been told we can choose where to draw the pension - Greece or the UK.

Does anyone know if that is true?

If so where in your experience is best? We've been told the TEBE pension is higher than a UK one and, if we are living here, it would make sense to have a pension in euro.

However he has probably paid more into the UK system.

Everywhere above that I have put "we've been told" is just hearsay from friends. We don't actually know anyone who has done it!

Is there anyone on the forum who could share their experience or who could tell us who to contact to find out?

I have also paid TEBE but only for a few years so don't know if that will count for anything.

As I say, lots of time to work it out, but thought I'd ask while I was answering another post anyway.

Many thanks.

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Old 4th December 2009, 06:27 PM
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Default OAEE and UK

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Originally Posted by Cairokid View Post
This is looking quite a way ahead but my husband turned 60 this summer so we are thinking of retirement in a few years and we'll probably stay in Greece when we do.


When he retires he will have paid almost 30 years into the UK social security system and about 15 years into the Greek one (TEBE not IKA)

We've been told he can claim a pension in both countries or transfer all the contributions into one. We've also been told we can choose where to draw the pension - Greece or the UK.

Does anyone know if that is true?

Many thanks.
First thing you should know is TEBE is called OAEE as of two years ago, so the most current information will be easier for you to look up. Also, the Greek social insurance funds are undergoing an overhaul right now due to the Greek economy, so anything you're told today may not be true by the time you retire.

It is true you can opt to collect pensions from one or both (in consolidation), but I find it's best to consult directly with OAEE and your UK representative when it's time. You risk getting dodgy advice and info otherwise.

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Old 5th December 2009, 08:56 AM
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Thanks Stefania

Of course you are absolutely right and we will contact the appropriate bodies nearer the time.

I just wondered if any other Brits had personal experiences to share of either drawing a Greek pension or transferring contributions over. I find it can be really useful to hear what other people have done so you know what questions to ask, what problems might arise, etc.

We settled here more by chance than design (it's a long story ...) so we did not do any 'homework'as we might have done had we planned to come here to work. We still have much to learn...

Although we know some ex-pats who work for international companies the only other foreigners we know who are running businesses here are Dutch and things are not always the same in the Netherlands as the UK.

I am very pleased to have found this forum and thank you for replying.

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