Pensions In Spain

PENSIONS IN SPAIN

There are four different ways of receiving your pension whilst living in Spain. Usually it will be paid directly into your bank account in your home country but there is also the possibility to have it paid in Spain. Other ways are to get paid via cheque or payable orders which are sent to a building society.

Your pension will not be taxed from your home country if you have a residence in Spain. As soon as your pension is paid by the government, you will not be liable for tax in Spain.

Those who lived in Spain for 15 years or more, paid their Income tax and their Insurance contributions are qualified to receive the Spanish State Pension. All in all Spain is not much cheaper to other European countries but for those who want to retire in the Southern Europe it is an ideal choice.