🌍 Safe Pension Transfers to Spain
Retiring in Spain is a dream come true for thousands of British and European expats. Sunny weather, a relaxed lifestyle, and affordable living costs make the Costa del Sol one of the top retirement destinations in Europe.
But many retirees face the same challenge: how to transfer their pension to Spain safely and without losing money on bank fees or poor exchange rates.
If you plan to enjoy your retirement in Spain, choosing the best way to transfer your UK pension is as important as finding the right property.
In this guide, we’ll explain why so many expats lose money with banks, how FCA-regulated specialists like Lumon can help, and the steps to make your pension transfers smooth and cost-effective.
👇 Want to secure your pension transfers today? 👇
Why Expats Lose Money When Transferring Pensions
The hidden costs of banks
Traditional banks charge two kinds of costs when you move money abroad:
Flat international transfer fees (often £20–£40 per payment).
A hidden margin on the exchange rate (2–4%).
For a retiree transferring £2,000 per month, that’s £40–£80 lost each month – or nearly £1,000 per year.
Exchange rate fluctuations
Exchange rates move daily. If you don’t lock in a rate, your monthly pension in euros can vary significantly, making it harder to plan your lifestyle and budget.
The Best Way to Transfer Your Pension to Spain
Why currency specialists are better for retirees
Specialists like Lumon focus on expats and large transfers. Their benefits include:
Better exchange rates than banks.
No hidden fees.
Dedicated account managers who understand expat needs.
The ability to set up regular payment plans for pensions.
Setting up a regular payment plan
Instead of manually transferring your pension each month, you can create a Regular Payment Plan:
Choose how often you want transfers (monthly, quarterly).
Lock in an exchange rate for peace of mind.
Funds are automatically converted and deposited into your Spanish account.
👇 Avoid losing money every month 👇
Real Example – Retiree in Costa del Sol
Mr. and Mrs. Smith moved to Mijas with a joint pension of £3,000 per month. At first, they used their UK bank to transfer money. They lost:
£25 in fees each month.
3% on the exchange rate (£90).
Total loss = £115/month, or £1,380 per year.
After switching to Lumon:
No fees.
Rate much closer to market rate.
Savings of over £1,000 annually.
Why Expats in Costa del Sol Trust Lumon
FCA-regulated security
Lumon is regulated by the Financial Conduct Authority (FCA) and the Central Bank of Ireland, ensuring your money is safe.
👉 Learn more about the FCA here: Financial Conduct Authority
Local understanding, global expertise
Lumon has supported thousands of expats buying property and moving pensions to Spain. They understand the Costa del Sol expat community and can tailor solutions for retirees.
Step-by-Step Guide to Transferring Your Pension
1) Open a Lumon account – free and quick, with KYC checks
2) Set up a pension transfer plan – decide amount and frequency.
3) Secure your exchange rate – lock in for 6–12 months if you wish.
4) Enjoy stress-free living – receive your pension in Spain on time, every month.
👉 Start your pension transfer today
Internal & External Resources
If you’re also planning a property purchase in Spain, don’t miss our guide:
👉 Currency Transfers for Property Buyers in Spain
👉 Avoid Losing £5,000 on Bank Transfers for Your Property Purchase
Get Started with Your Pension Transfers
Living in Spain should be about enjoying life, not worrying about hidden bank fees. By choosing a trusted partner like Lumon, you can ensure your pension goes further and your lifestyle remains secure.