Retirement in Taiwan

All the while enjoying the rich bounty of social services you spent your youth believing shouldn’t be there for people. :laughing:

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All the while enjoying the rich bounty of social services you spent your youth believing shouldn’t be there for people. :laughing:[/quote]

What rich bounty? I’ve paid into CPP, paid into my work place pension, and into RRSPs. :laughing: The only freebie in Canada is the Old Age Pension (which has recently been raised to 67 as the qualifying age for our generation!) and if you have a Whiggish stake in society (and make over a certain income in retirement) they claw that back so that if you make over 100K, you get none. It’s hardly a country of great entitlements. In fact, the UK’s version of the CPP and Old Age pension pays more and has less stringent residency requirements (having to be in the country for a certain amount of years).

Sure. You think getting a pension of at least 60% of your salary pegged to inflation, with a bridge benefit till 65, for the last 35 years of your life, with medical and dental, is not generous? Greek style generous? You would be the first to rally against such offers being made to every worker, saying the system can’t afford it.

You aren’t retiring at 55 because you are a good saver. You’re able to do it because the Canadian government still provides good retirement benefits to its employees.

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You do know that public servants often make a lot less than their private sector counterparts? One of the main things that attracts top notch talent into public services around the world is a generous pension system. It is often labelled as generous but remember that a lot of public service positions pay a good 10K or 20K less than similar private sector positions, especially if you are a lawyer, business grad etc.

Having a defined pension certainly is a plus, but it is funded through employer and employee contributions. Furthermore, the pension formulas are often changed for the worse. For example, in some countries your retirement age plus years of service has to add up to 85 to get a full pension. In other countries, it’s 90. By the time Generation X’ers and Millenials retire, it will likely be much higher.

I don’t deny such packages are pretty nice to have, but they aren’t a sure things (i.e. formulas get changed) and salaries are often lower than in private sector positions.

seems unlikely that any of us will :pray:

Please advise if I’m in the wrong forum but:

Are there any special rules, laws, requirements, etc. for someone wanting to retire in Taiwan that will allow them to access things like medical insurance. (I’m Canadian, have reasonable assets and no legal issues.)

[quote=“Magus1946”]Thanks for the “gentle” rebuke and the search. I regret any issues I may have created for the mods and I don’t (yet) have any reason to think you are an “utter dick”.
[/quote]
Do a search on that. :laughing:

See The 10 best retirement havens. Thailand and Malaysia are on that list. Maybe you were thinking of Thailand?

forbes.com/2009/10/15/ten-be … broad.html

Taiwan is not a retirement haven at the moment. There is some talk to enact laws that make retiring in Taiwan an option. But they are aiming for rich Japanese. So probably the monetary requirements will be a bit on the high side.

Currently you have to have other reasons to allow you to get a residence certificate. Such as being married to a ROC citizen. Or run a company that you set up in Taiwan (with its various requirements).

Or if you invest a certain amount of money.

Not sure what the monetary requirements are now, but I understand Singapore, for example, has a policy where you put 500,000 USD into a govt bank account (with no interest gain) for a period of five years. They immediately issue you a residency permit (or even citizenship should you desire).

That is why there is a lot of Chinese from China there now.

Thanks gentlemen. That’s exactly the kind of information I was looking for.

I did mean Taiwan, not Thailand, but the “haven” idea was spot on.

I would probably only stay six months - or even less - per year, but was curious as to whether there were any good reasons to do otherwise. I speak a little Chinese, have always enjoyed Taiwan in the past (and am not quite brave enough to consider the mainland as a viable option).

Thanks again,

Magus

if you are from 1946, then I would not stop working just a little. If you have a chance, then find something you are doing, or want to be doing, and use that to set up a representative office, get your ARC through that. Do not work illegally, and DO NOT TEACH ENGLISH and you should be OK.

As long as you have a little activity in the rep office, you should be fine, and once you have been here 5 years, you can get an APRC anyways.

I would not retire here, however that’s me, I can understand why people want to, cheap health care, not too expensive place to live and warm weather.

I believe you can also invest NT$30 million in government bonds or NT$15 million in a company that employees five Taiwanese. These get you ARCs and fast track you for an APRC.

Thanks again for good responses.

A couple of questions though (and yes, I’ll do the searches).

What is a rep office or where can I find more about them.

Second, although I don’t plan to work illegally in Taiwan - or probably at all - why not teach if I had the chance?

Where can I find costs for health care, or health insurance?

Also, why would you not retire in Taiwan? To each his own, but I’m just curious.

And finally, any suggestions as to where I can find out more about investing there to fast track the process.

Once more, thanks for your help!

If you are a US citizen you get visa free for 90 days each visit. And there is no limit how long you can stay in Taiwan in a calendar year. So you could live six months out of the year on Taiwan.

Without an ARC means you won’t be on the govt health plan. But provided you are not needing major surgery seeing a doc is quite cheap in Taiwan and you could easily afford doing so when needed.

IF you have a college degree and you are from an English speaking country you can teach and thus get an ARC and live on Taiwan on that basis.

[quote=“tommy525”] Currently you have to have other reasons to allow you to get a residence certificate. Such as being married to a ROC citizen. Or run a company that you set up in Taiwan (with its various requirements).

Or if you invest a certain amount of money.
[/quote]

What other reasons allow someone to get a residence certificate? Is there an official or unofficial list or reference somewhere?

I am 55 and greatly enjoyed my 2 weeks in Taiwan last fall. It was every bit as enchanting as I thought it would be, although I understand some of that was the “puppy love” of a first visit. But as I stood in Jiufen, overlooking the Pacific, I found myself wondering…Could I retire here? I would be happy with a clean, well-lighted 500-800 square feet not too far from things. I was completely floored by the friendly people everywhere I went in Taipei, Keelung and Tamdui/Danshui…So now I am starting to think more about this…

Any retirees on this list?

[quote=“BeachBoy”]I am 55 and greatly enjoyed my 2 weeks in Taiwan last fall. It was every bit as enchanting as I thought it would be, although I understand some of that was the “puppy love” of a first visit. But as I stood in Jiufen, overlooking the Pacific, I found myself wondering…Could I retire here? I would be happy with a clean, well-lighted 500-800 square feet not too far from things. I was completely floored by the friendly people everywhere I went in Taipei, Keelung (Jilong) and Tamdui/Danshui…So now I am starting to think more about this…

Any retirees on this list?[/quote]
Well I would like to retire,but I just seem to get busier in Taiwan. There are so many more opportunities here,it’s difficult. Two weeks is not long enough to get a real idea of living in Taiwan IMO.The People are sometimes incredible and they can be frustrating too.There are some really beautiful places on the Island and there are some completely awful areas. It’s a real mix. Loving Taiwan, may depend on the lifestyle you had before as there are certain parts of “Western” culture that are not available. If you are willing to take the rough with the smooth,you may love it. Try it out,maybe, for a little longer before you make a decision.
Read the posts on Living in Taiwan for a balanced view !

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I will be eventually. But I agree you need much more than 2 weeks to get a good impression. I’ve spent a lot of time there, first for work then for leisure after meeting my wife there. There’s a dirtier side to the island you don’t always see in a brief visit and many simple things can be a total PITA to get done. Retirement is about 15 years away for me so things could always change but Taiwan is our planned destination for now.

Whoop de doo, your an old guy! Most kiddy schools wont want you because of age. Screw 'em. They don’t know what they are missing. It’s cool for students to see a young kid with cutoff, sandals and weird hair. They don’t pay the tuition. Mom and pop do. That’s the important class.
You have 2 factors so out front that most can’t even see it.
You have the “grandpa/grandma factor” and you have the a professional appearance (assuming nice clothes)
Kids don’t pay the bill. Mom and dad do. I always make sure that mom and/or dad get to view one class en situ. If they don’t pay, assuming you know your crap, I would be surprised.
Bottom line, we all get old. I am older than you and I work 7 days per week and turn down classes. Just use what you have and come to Taiwan. We need old farts like you and me.

[quote=“2Enigma”]Whoop de doo, your an old guy! Most kiddy schools wont want you because of age. Screw 'em. They don’t know what they are missing. It’s cool for students to see a young kid with cutoff, sandals and weird hair. They don’t pay the tuition. Mom and pop do. That’s the important class.
You have 2 factors so out front that most can’t even see it.
You have the “grandpa/grandma factor” and you have the a professional appearance (assuming nice clothes)
Kids don’t pay the bill. Mom and dad do. I always make sure that mom and/or dad get to view one class en situation. If they don’t pay, assuming you know your crap, I would be surprised.
Bottom line, we all get old. I am older than you and I work 7 days per week and turn down classes. Just use what you have and come to Taiwan. We need old farts like you and me.[/quote]

OP did not mention getting a retirement job. Maybe he has enough funds for retirement in Taiwan? If he is a US citizen, there are some retirement considerations such as health care cost, and FATCA.

I am a dual citizen (Taiwan & US). I am similar in age right now, and I am not retired yet mainly because of the uncertainty of US health care new law (PPACA, aka Obamacare). I plan to retire in both places with few months in each place. My estimated living expenses are quite similar between the 2 places, because I have to add the airfare to and from Taiwan, plus I plan to pay health care in two countries.

When I get passed 65 or older, I will have a decision to make in which place to stay permanently. My wife and I are thinking of staying in Taiwan because of the low cost of long-term care but my children are likely to stay in US, so we will make that decision when we get much older.