Every retirement route this site covers tests your money, and most test it in a currency you are probably not paid in. So “do I have enough?” becomes “do I have enough at today’s rate, and at the rate on the day someone checks?”
The thresholds are sourced on the country guides for Thailand, the Philippines, Malaysia, Sarawak, Indonesia and Cambodia. This page covers what the exchange rate does to them.
The thresholds, and the currency each is written in
| Route | Income test | Deposit test | Written in |
|---|---|---|---|
| Thailand Non-O and O-A | Pension of 65,000 baht a month | 800,000 baht | Thai baht |
| Thailand O-X | 1.2 million baht a year, with 1.8 million on deposit | 3 million baht, held in Thailand | Thai baht |
| Thailand LTR Wealthy Pensioner | US$80,000 a year passive income | US$250,000 invested in Thailand if income is US$40,000 to US$80,000 | US dollars |
| Philippines SRRV Classic | Lifetime pension of US$800 a month, or US$1,000 with dependants | US$15,000 with that pension, US$30,000 without, from age 50 | US dollars |
| Malaysia MM2H Silver | None | US$150,000 fixed deposit in a Malaysian bank | US dollars |
| Sarawak SMM2H | Pension of RM10,000 a month, or RM15,000 with a dependant | RM500,000 fixed deposit in a Sarawak panel bank, as well | Ringgit |
| Indonesia E33F and E33E | US$3,000 a month | E33E adds US$50,000 in a state-owned bank | US dollars |
| Cambodia ER | Sufficient funds, no figure published | None stated | None stated |
Only Thailand’s visas and Sarawak’s programme are written in the local currency, and Thailand switches to US dollars for its LTR. Every other test with a stated figure is set in US dollars, which is also a foreign currency for a retiree paid in pounds, euros, Australian dollars or yen.
Why a pension test is also an exchange-rate test
A pension paid in pounds has a baht value only on a particular day, at a particular rate. The visa test applies to that value, and the value moves while the pension stays the same.
If your pension clears a threshold by 5% today, a 5% move the wrong way leaves nothing to spare, and a bigger move puts you under the line. You have spent no more and received no less. Only a price you do not control has changed.
None of these sources says which exchange rate it uses to judge a foreign pension, or on what date. A bank’s buying rate, a central bank reference rate and the rate your own bank credits you at can sit a few percent apart on the same afternoon. Assume the least favourable, and do not apply with a pension that only clears the line at the best one.
Deposits are converted once, income every time
A deposit test converts once. When 800,000 baht is in a Thai account, or US$15,000 in a Philippine one, the money is already in the test’s currency, so the exchange rate no longer decides whether you qualify. The balance may still have to be held. Thailand’s in-country extension wants the 800,000 baht in a Thai bank two months before you apply and three months after, as set out in the one-year extension in Chiang Mai.
An income test converts every time it is measured. Where an authority tests the pension again, at a renewal or an extension, it reads the pension at that day’s rate. A pension that qualified comfortably at 55 can fail at 60 without changing by a cent.
If your pension is paid in a third currency, the deposit route takes the exchange rate out of the eligibility question. The cost is capital tied up in a local account, which some people will pay for the certainty. Know the option exists before you choose a route on price.
Check the conversion first
Convert your pension at a published rate and see how much room is left. Wise uses the mid-market exchange rate and shows its fee separately, so it is one place to see what a monthly pension is worth in baht or US dollars on a given day. Then leave a margin for the rate the authority applies, which is not published.
Run the sum again with the rate moved against you by a few percent. If the pension still clears, the income route is probably safe for you. If it only clears on a good day, treat yourself as a deposit applicant who happens to have a pension.
Moving the money itself
Two of these tests are strict about how the money arrives. Ask before you assume.
The Philippine SRRV deposit must be sent as an inward remittance from a bank abroad to a bank the Philippine Retirement Authority has accredited. If you plan to send it by anything other than a bank, ask the receiving bank whether it will certify that transfer as an SRRV deposit before you send it. We would not route a visa deposit through a service the certifying bank has not confirmed.
Malaysia’s MM2H deposit must be a fixed deposit with a financial institution licensed under Malaysia’s Financial Services Act 2013 or Islamic Financial Services Act 2013. That rule covers where the money ends up.
Once the visa is granted, the pension still has to be converted every month to live on, and over a retirement the rate you are given matters most there. A transfer that shows its rate and fee before you send is the thing to look for, whichever provider you choose.
See what your pension is worth in baht or dollars before you apply (affiliate link)