±JOIN OUR NEWSLETTER
±Compare Expat Providers
±Expat Focus Partners
±Latest Financial Articles
· Expat Focus Financial Update 21 April 2017
· Expat Focus Financial Update 12 April 2017
· Expat Focus International Finance Update 05 April 2017
· Expat Focus International Finance Update 29 March 2017
· Expat Focus International Finance Update 23 March 2017
· Expat Focus International Finance Update 14 March 2017
· Do Expats Really Need An Offshore Bank Account?
· American Living Abroad? Here's How To File Your Tax Return
· Where Do The World's Highest Paid Expats Live?
±Latest Health Articles
· Expat Focus International Healthcare Update 13 April 2017
· A Guide To Healthcare For Expats With Chronic Illnesses
· Do You Need Terrorism Cover In Your Expat Health Insurance Package?
· Are These The Healthiest Destinations For Expats?
· Why Understanding Expat Healthcare Issues Before You Move Abroad Is So Important
· A Guide To Health Insurance For Expat Freelancers
· Expat Focus International Healthcare Update 30 March 2017
· Why Expat Retirees Should Never Ignore Health Insurance
· Moving Abroad? Read Our Essential Health Checklist
Retiring and PensionsBack to top Back to main Skip to menu
Barbados - Retiring and Pensions
Before moving you will have to transfer funds into a bank on the island to cover your expenses. Medical treatment can be expensive and it is essential to have insurance as hospitals usually require immediate payment. The hospitals are very good and the Queen Elizabeth hospital provides geriatric care as well as free treatment for minor ailments and there is also a private hospital on the island.
It is possible to claim your UK pension in Barbados at the same rate as you would if still living in the UK. However, if you may be entitled to a Barbadian pension you cannot also claim the UK one. You will not receive a pension from the Barbadian government if you are entitled to a pension from any other country, are hospitalized or in prison, are under 65, earn $30 per week and are deaf mute or blind. Spending more than 56 months out of the country will also disqualify you from receiving pension payments.
To qualify for a Barbadian pension you must be over 65, although this minimum age is set to rise. You must also have been a resident or citizen of Barbados since the age of 40 or have an aggregate of 20 years since the age of 18. Those with permanent residency only need to have been a resident for 15 years after the age of 40 or have the aggregate of 20 years from the age of 18.
The Barbados government website will give more extensive details on eligibility and details of how to claim for pensions. It is a good idea to check with the pension department in your home country to determine if you can claim that pension while you are living in Barbados. It may be possible for them to pay the monies directly into your Barbadian bank account, although it is also possible for them to pay into your account in your home country and for you to arrange any necessary transfers. If you arrange transfers yourself you may find that this is subject to a fee which is determined by your bank.
Expat Health Insurance Partners
Our award-winning expatriate business provides health benefits to more than 650,000 members worldwide. In addition, we have helped develop world-class health systems for governments, corporations and providers around the world. We want to be the global leader in delivering world-class health solutions, making quality health care more accessible and empowering people to live healthier lives.
At Bupa we have been helping individuals and families live longer, healthier, happier lives for over 60 years. We are trusted by expats in 190 different countries and have links with healthcare organisations throughout the world. So whether you're moving abroad for a change of career or a change of scene, with our international private health insurance you will always be in safe hands.
Cigna has worked in international health insurance for more than 30 years. Today, Cigna has over 71 million customer relationships around the world. Looking after them is an international workforce of 31,000 people, plus a network of over 1 million hospitals, physicians, clinics and health and wellness specialists worldwide, meaning you have easy access to treatment.