Retiring to the North of Ireland

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elainem

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My sister and her husband are thinking of retiring to the North of Ireland - Derry. They say they can sell their house in Rathfarnham and buy a nice house in Derry, and still have a good bit of money left over. They have often visited Derry and have friends there. My sister who has had a few illnesses over the last few years is struck by the free healthcare in the North. They say they can both get their state pensions - they also have an occupational pension - in the North - is this true? Are their any pitfalls to their move. They've just announced it to myself and my other sister and their own children and grand-children.
 
elainem said:
Are their any pitfalls to their move?
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The three key ones that strike me, and you can bet they've considered them at length, are:
  • adverse exchange rate movements...any fall in the €/£ exchange rate reduces their real income. They can hedge against this to a certain extent by ensuring they convert all their non-pension financial assets into sterling.
  • Derry is an awkward drive to/from Dublin with no particularly direct route so travelling to see their grandchildren (or southerners visiting them) is surprisingly logistically difficult (as opposed to, say, Belfast).
  • Derry is a quiet enough place, culturally, as compared to what they're used to.
 
elainem;

Sounds like the decision is made. So maybe advice might not be appreciated!
.
1. I would reckon they would get a good house in Derry a lot cheaper than Dublin.
2. I wouldn,t be too concerned about xchange rates , we have here in donegal/derry managed any fluctuations without major grief and they will need euros.
3. If standard paye in Dublin, they will get Roi contributory pensions.
4. Have Uk occupational pension.
5. If they have Uk occupational pension, they are probably also entitled at 65 to a small uk contributory pension as well, ie worked out on years worked in uk.Suggest check it out , via pension section in Newcastle..

Re distance.etc.. It is a clear run 3 hours Dublin to Derry ,not awkward atall.

Wish them health.
 
Gerry Canning said:
4. Have Uk occupational pension.
5. If they have Uk occupational pension, they are probably also entitled at 65 to a small uk contributory pension as well, ie worked out on years worked in uk.Suggest check it out , via pension section in Newcastle..

Re distance.etc.. It is a clear run 3 hours Dublin to Derry ,not awkward atall.
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I didn't see in the original post any evidence of the people involved having worked in UK or of having a UK pension, either occupational or state. If they have, that's good news and would lessen the exchange rate concerns.

Obviously, the burden of the road journey is a matter of opinion. Until very recently I regularly made that journey to visit or bring an elderly relative to stay with his family in Dublin and I would characterise it as one of the intercity drives that has had least benefit from network investment in recent years.

But don't get me wrong...I like Derry and it has a lot to recommend it.
 
Oysterman;
I could have read their{they also have an occupational pension -in the north} as they having worked in uk for some time. Hope I read it correctly as they would have Uk state pension as well as Roi one, as well as occupational one.
You are right, investment in N ire road from Border to Derry was poor.On the scheme of things roads to Derry have been ignored.
Also I have simply got used to lesser roads!
 
They could consider buying on the Donegal side of the Border, Burt, Bridgend, Muff, Killea, Carrigans and St Johnston are all within a five to fifteen minute drive from Derry, no free health care but they would make a substantial saving on the house purchase.
 
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