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Oman - Retiring and Pensions
Some Omani and international companies based in the country have set private pension schemes, usually contributory, either by lump sum or continual monthly payments. It is advisable to confirm the terms of the company pension scheme when accepting the job. It may also be possible to continue making contributory payments to your state pension in your home country, although this is something that you will have to confirm with the pension department there.
You may be able to export your country of origins state pension to Oman. UK retirees are able to do this and it is necessary to contact the department of work and pensions to organise the payments. Other benefits available to UK expats are heating allowance and sickness benefits, although there may be some restrictions depending on the individual circumstances. For example, expats who have been abroad for a long time with no return to the UK may find that they forfeit their right to some allowances. All countries will have different regulations on sending payments abroad and it is wise to check before you leave to ensure that there will be no problems.
The quality of life for retirees in Oman is one of the best as there is plenty of clean fresh air, and a warmer climate helps to keep a person healthy for longer. Oman has many activities aimed at keeping a person active and friendly locals to get to know. The country has a number of gyms and sports clubs that welcome expat members along with excellent shopping centres that offer value for money on many items due to low import duties. The lack of income tax means that residents also have more disposable income.
The Omani government has also now made it possible for foreign nationals to buy residential property in the country. This automatically entitles the owner to residency for as long as they own the property which makes the country a better prospect for those looking to retire to the sun, but Oman offers a different culture and anyone thinking of settling there on a long-term basis needs to be sure that the lifestyle will suit them.
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