dodi
Apprentice
Joined: 20 Dec 2003
Posts: 10
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 Posted: 10/21/07 - 04:53 Post subject: |
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My husband and I are moving to Italy in two months. We are moving to a house we bought last year, and we're renting our home here. I have a very small pension, my status was self employed, but now it's not any more. I'm thinking about freezing it, but maybe it' better to carry on with payment. If we move and stay there for several years what will happen to my pension?
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sigismundo
Apprentice
Joined: 15 Apr 2005
Posts: 6
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| Posted: 10/31/07 - 01:09 Post subject: |
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From your explanation my conclusion is that you are becoming a non-resident landlord. Since you spend all the time abroad that would be your status and it concerns your pension because you won't be able to pay contribution. But I suppose you have an idea how to contribute in your absence because you mention a possibility of proceeding with payment. Standard rules indicate that you can take the full amount in cash when you become 60 years old. Your pension total is not a big number, you said, but for larger sums different rules apply. You have an option to take 25 percent when you turn 50 (55 after 2010), the rest providing an income. Pension fund is always the good way of saving money for future days, in my opinion safer then other investments. You didn't provide an information about annuity rate, but I will presume that it is average. No matter how small pension is, I would recommend it so I say continue with payment. If your finances let you it would be wise to increase contribution payment. You will get better conditions, and save more money. Look up for pension expansion options, or you can contact an expert on a subject.
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