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Stay Up-To-Date On Benefits, Retirement Info & Workshops - right to your email!

Retiring Overseas: Is This A Good Option For You?

Retiring can mean a lot of change. Sometimes the change can be enormous, especially if you are or have considered moving overseas for those golden years. Federal employees and others who rely on their pension money, Social Security Benefits, and other sources of income need to ask some very important questions.

In fact, we often hear, “How will I be able to get my pension if I don’t have access to a bank for direct deposit?”, “Do I still have to pay federal taxes?”,What about Social Security and Medicare?”, “What happens to my FEHB plan, am I still covered?” The good news is, you’re not the first person interested in retiring overseas, so let us help you out.

  1. Yes, you can still get your pension without a bank account.
  2. Taxes are a trickier question to answer and it kind of depends on where you’re going, so it’s best to speak with a CPA versed in international tax.
  3. Social Security has a few resources regarding International benefits, the best one to start with is: https://www.ssa.gov/international/.
  4. You may still be covered under FEHB depending on the plan type and coverage. OPM has some important facts to consider when looking into FEHB coverage that’ll work for you. You can check out those facts HERE
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