Step 1: Decide on Your Destination

The first step is choosing where you’ll retire. Each country offers a different mix of benefits and challenges. Popular choices for UK retirees include Spain, Portugal, France, and increasingly Southeast Asia—especially Vietnam and Thailand.

When making your choice, consider:

• Cost of living – How far will your pension go? In Hanoi, for example, you can rent a comfortable apartment for around £300–£400 per month, much less than in the UK. I am currently paying £250 a month for a one bedroom apartment.

• Healthcare access – Some countries offer high-quality but affordable healthcare, while others may require costly insurance.

• Lifestyle – Do you prefer a beach lifestyle, city living, or a quiet rural setting?

• Visa options – Some countries make it easier for retirees to stay long term than others. Make sure you read my Blog on visas for Vietnam.

Step 2: Understand Your Visa Options

Visas can make or break your retirement abroad. The rules vary depending on your destination and your personal situation.

For example:

• Vietnam doesn’t have a dedicated “retirement visa.” Most retirees enter on tourist visas or business visas and renew them periodically, or set up local investments to qualify for longer stays.

• In Europe, the situation is more straightforward in countries like Spain or Portugal, where retirement visas are well established. Let’s not get into the Brexit debate!!

As a UK citizen, you should always check:

• Length of stay permitted.

• Visa renewal requirements.

• Whether proof of income (pension or savings) is needed.

• If there are age restrictions (some visas have them).

• Check the Gov.uk website - https://www.gov.uk/browse/abroad

Step 3: Review Your UK Pension

Your pension is likely to be your main income stream, so understanding how it works abroad is vital.

Key points to check:

• State Pension – If you move abroad, you can still claim your UK State Pension. But note that outside the UK, EU, and a few other countries, your pension will not receive annual increases (“frozen pensions”). Vietnam is one such country. Doesn’t seem fair but rules is rules.

• Private and Workplace Pensions – Usually these can be paid anywhere in the world, but confirm with your provider.

• Currency Exchange – Decide whether to have pensions paid into a UK account and transfer funds, or use an international bank to reduce fees. Check banking conditions in the country you are thinking about, here in Vietnam for example it is very hard for foreigners to open a bank account in Vietnam.

This is where financial planning pays off. Retiring in a lower-cost country like Vietnam can make your pension stretch further, but frozen pensions mean inflation may slowly erode your income.

Step 4: Understand Tax Implications

Many retirees overlook the tax side of moving abroad. The UK has tax treaties with many countries, but not all.

• HMRC Notification – You must tell HMRC you’re leaving the UK using form P85.

• Residency Status – Your tax obligations depend on whether you remain a UK tax resident.

• Double Taxation Treaties – Some countries have agreements to avoid you paying tax twice.

If you retire to Vietnam, the UK and Vietnam do have a double taxation treaty, but it is important to seek advice. You may still be liable for some UK tax depending on your income sources.

Step 5: Secure Healthcare & Insurance

Healthcare is one of the biggest concerns for retirees over 60. Some countries offer excellent and affordable services, while others may be more expensive or limited.

1. Vietnam: Private hospitals in Hanoi and Ho Chi Minh City are modern and foreigner-friendly, but costs are high without insurance.

2. Insurance: Most UK retirees abroad need comprehensive expat medical insurance, especially over 60. Premiums rise with age but are essential.

3. NHS Access: Once you permanently leave the UK, you lose access to free NHS care.

Pro tip: Always compare international insurers and local providers. For Vietnam, many expats use global companies, which are expenses, if they are willing to quote at all.  I managed to get a great deal on Personal Medical Insurance for Vietnam from a company called Tenzing Pacific , here is a link to their website, ask them for a quote, it doesn't cost anything, I did and didn't regret it - click here 

Step 6: Sort Out Accommodation

Housing is central to your retirement plan. Consider whether you’ll rent, buy, or try both.

• Renting Abroad – This is often the best option when you first arrive. In Hanoi, for example, you can rent long-term apartments cheaply, giving flexibility.  I had been to Vietnam 3 times previously so knew where I wanted to retire to, but I booked a hotel for 3 weeks for when I first flew out to give me sometime to view different accommodation options before committing.

• Buying Property Abroad – As a foreigner, you may face restrictions. In Vietnam, foreigners can’t own land but can buy 50-year leasehold properties. "land is for the Vietnamese people"

• UK Property – Decide whether to sell your UK home, rent it out, or keep it as a base. Renting it can provide a steady income stream but also responsibilities. In the end I decided to rent my house out so I had somewhere to go back to if things didn’t work out. As a result I became a first time Landlord, that is not straightforward as you can imaging.

Step 7: Manage Your Banking & Money Transfers

Handling your money across borders is another essential step.

• UK Bank Accounts – Keep at least one UK account open for pension payments, house rental income and UK bills.  Even though I told my UK bank numerous times I was moving abroad I still encountered problems.

• Overseas Accounts – Open a local account where you retire. In Vietnam, banks such as Vietcombank and Techcombank are popular with expats, but there are conditions and hoops to jump through.

• Transfer Services – Services like Wise (TransferWise) or Revolut often offer better exchange rates than banks.

This step can save you hundreds or even thousands of pounds each year.

Step 8: Plan for Healthcare Emergencies & End-of-Life Matters

Nobody likes to think about this, but it’s essential, especially over 60.

• Emergency Plans – Know where the nearest good hospital is.

• Repatriation Insurance – Some retirees take cover for flights home in a medical emergency.

• Wills & Legal Documents – Update your will to reflect your new country. Some UK wills may not be recognised abroad. This was one of the last things I did before I left the UK. Don’t forget to let the named executor of your will know about it.

• Power of Attorney – Consider giving a trusted person authority in case of incapacity.

 Step 9: Build Your Social & Support Network

Loneliness can be a real risk when moving abroad, particularly in retirement.

• Expats in Hanoi – Hanoi has a growing expat community, including many over 60. Groups on Facebook and local meetups make it easy to connect.

• Learn the Language – Basic Vietnamese goes a long way, but so hard to learn, well for me it is! I stared to learn Vietnamese online with Preply.  Check them out offer a great service at reasonable prices - click here

• Clubs & Activities – From table tennis to cooking classes, getting involved helps you build a new routine.

Step 10: Test the Waters Before Committing

Finally, don’t jump in headfirst.

• Extended Visits – Spend 3–6 months in your chosen location before making it permanent.

• Trial Run in Hanoi – Live like a local, on the budget you expect to have. This gives you a clear picture of daily life, costs, and whether it feels right.

• Flexibility – Many retirees move a few times before finding the perfect spot.

FAQs

Q: Can I claim my UK pension while living abroad?
Yes, but if you live outside the UK, EU, or certain countries, your State Pension won’t increase annually.

Q: Do I pay UK tax if I retire abroad?
It depends on your residency status and the tax treaty between the UK and your new country.

Q: Is healthcare in Vietnam good enough for retirees?
In major cities like Hanoi, private hospitals are modern and high-quality, but you’ll need insurance.  I have experience two local hospitals while I have been here and the service has been first class but some language difficulties.

Q: How much does it cost to retire in Hanoi?
On average, retirees spend £800–£1,200 per month, depending on lifestyle. If you have a Vietnamese girlfriend double that ha ha

Q: Can I buy property in Vietnam as a UK retiree?
You can buy leasehold property (50 years), but not land ownership.

Conclusion

Retiring abroad over 60 from the UK is an exciting adventure, but it requires careful planning. From pensions and tax to visas, healthcare, and housing, there are many moving parts.

The good news? By taking these 10 steps, you can prepare yourself for a smooth transition into retirement overseas. Whether you’re considering the bustle of Hanoi or another global destination, the key is research, preparation, and flexibility.

Retirement abroad isn’t just about stretching your pension—it’s about creating a fulfilling lifestyle, building new friendships, and enjoying the years ahead to the fullest.