Pensioner finds cheaper life in Thailand after rent squeeze

Pensioner Peter Stevenson says his monthly rental bill has dropped from $1,120 to $400. (Supplied)

Pensioner Peter Stevenson says moving to Thailand has allowed him to live more comfortably on his Australian Age Pension after struggling to cover rent and essentials in regional Victoria.

Advocates say rising rents are pushing older Australians in the private rental market into poverty and that Commonwealth Rent Assistance is not keeping pace.

There are calls for Rent Assistance to be indexed to changes in rents for the cheapest 25 per cent of homes in capital cities but the federal government argues it has already made big increases in the payment.

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.

The house Mr Stevenson can now afford to rent in Thailand. (Supplied)

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.

In regional Victoria, where Mr Stevenson was living, median rents grew by 36.4 per cent between 2012 and 2024.

Mr Stevenson's life in Thailand today is very different to "just existing" on his pension in Australia, he says.

Mr Stevenson is enjoying his new life in Thailand with his dog. (Supplied)

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.

The difference in cost of living means he can afford to go out for coffee or visit other parts of the island.

Mr Stevenson is getting out a lot more than he used to. (Supplied)

He has gone from paying $1,120 per month on rent to $400 per month.

And while Mr Stevenson is no longer receiving government Rent Assistance because he is living overseas, he is managing to make ends meet, even saving a small amount of money.

Mr Stevenson enjoys his new life but says access to healthcare is a big drawback. (Supplied)

The only drawback, he said, is that health insurance in Thailand is expensive.

Mr Stevenson lives in Thailand o