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Sophia
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Peter Stevenson has gone from living in a one-room converted shipping container in Victoria's Yarra Valley to an air-conditioned two-bedroom home on Phuket Island. Mr Stevenson has found he can afford to live well in Thailand on his age pension. But it was a different story five years ago when he was spending half of his fortnightly income on rent in Australia. The rest went towards utilities and a shrinking food budget. "I went down to 65, 70 kilograms from 83," he said.
Australia's retirement system was designed at a time when home ownership rates were high. For those who have paid off their homes but do not have much superannuation, the age pension provides an income to cover food, electricity and general living expenses. But for renters, the situation has become increasingly difficult. Since the pandemic, rents have risen across the country. In regional Victoria, where Mr Stevenson was living, median rents grew by 36.4 per cent between 2012 and 2024. A 'happy' life in Thailand Mr Stevenson's life in Thailand today is very different to "just existing" on his pension in Australia, he says.
Mr Stevenson is living in Thailand on a retirement visa, which allows someone over the age of 50 to live but not work in the country, and he still receives his Australian pension. He has a partner and a little dog. The difference in cost of living means he can afford to go out for coffee or visit other parts of the island.
He has gone from paying $1,120 per month on rent to $400 per month. And while he is no longer receiving government Rent Assistance because he is living overseas, he is managing to make ends meet — and is even saving a small amount of money.
The only drawback, he said, is that health insurance in Thailand is expensive. "If I have a serious accident, I'm a dead man walking and that's the risk," Mr Stevenson said. But he said going back to Australia would be a struggle. "If I went home, I would be homeless.
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