Why are so many Britons leaving Australia?

[Guest guest68546]

Sorry TopBhoy, but I'm not boasting..................far from it. My comments were made in the context of someone saying that Australians are now having to retire in bali due to financial circumstance.................well excuse me but....................the Australians in question, if they find themselves in that situation, have had a damn sight longer than me or mine to sort out their future. Our 'financial future' only started 18 yrs ago when we arrived with only 18k and lost 11 of that on a land deal within the first 2 yrs. My endowments were sold off in the UK prior to us leaving to raise that 18k. I'm merely pointing out our circumstance in the context of someone who's had longer to provide for themselves supposedly having to move countries to survive. Hope that clears that up.

 

Now to your last statement. Is me "being blessed" by arriving here earlier, and since then, living on just one income, so far removed from some who come here later with so much more 'readies' claiming that they can't live on 2 incomes? Who knows as it's all relative to the individual's needs and priorities, is it not? But what I will address is the inference that I don't recognise the difficulties that newer migrants face. I have said many times that I fully appreciate that the struggle to settle here is now much more challenging than it once was, and I have even advised some not to come when I thought their prospects/salrly offered/location etc looked pretty grim. Hope that clears that one up too.

Point taken on your Super amount and the context it was raised but on forums where I see people quoting precise large sums of personal wealth, I view it as them wanting to do no more than brag at how rich they are. Why quote figures, why not just say 'a substantial amount' and leave it at that? $750k is a substantial amount even for a millionaire!! :-) By 'blessed' I meant arriving at a time when housing costs were lower prior to the house and salary cost explosion. Of course you only knew this with the benefit of hindsight. Nor is it saying you didn't plan or work hard but circumstances were in your favour; definitely more than they are for new migrants today (though I don't believe it is all doom and gloom today either).

[Paul1Perth]

Is this not a matter of perception? I believe employer Super contributions are included within what is known as a TAP (Total Annual Package). Its a common method of presenting an employees benefit package. The employer will specify an itemised benefits package such as the salary, employer Super contribution, any Fringe benefits, car, etc. within the 'Letter of Offer'.

 

When the superannuation contributions started in 92 the employer had to pay the required % of your salary. Over the years employers have rolled the amount into the "total package" in their letter of offer and other correspondence. I was working in the Health Service when it came in and it was 9% (I think) on top of your salary paid by the employer.

 

I think Verystormy is exaggerating a bit there when he says it's worth a small round of drinks. Fair enough the super hasn't done great over the last few years and has gone up and down. I don't think Aussie super has performed any worse than any other pension plan or super plan anywhere in the world. I have a small amount I get from my time at the NCB and get their yearly results. They had to borrow money a couple of years ago to meet their payment requirements to retirees. I guess they are hoping a few more will pass away in the next year or 2 so they can carry on paying the ones still alive.

[Guest The Ropey HOFF]

I am still a bit confused, do you get this Super and also a state pension?

[Johndoe]

Is this not a matter of perception? I believe employer Super contributions are included within what is known as a TAP (Total Annual Package). Its a common method of presenting an employees benefit package. The employer will specify an itemised benefits package such as the salary, employer Super contribution, any Fringe benefits, car, etc. within the 'Letter of Offer'.

 

If you fall for it, yes. They present it as a "package" to many professionals and also to the unwary 457's. Private health employers often use it to make the salary look more attractive.............many nurses on 457's are shocked to see that their take home pay is often nowhere near what they expected from the package. Public Health employers are forbidden from presenting salaries in this manner (at least in Qld) and have to quote salaries without employer's contributions.

[Guest guest68546]

If you fall for it, yes. They present it as a "package" to many professionals and also to the unwary 457's. Private health employers often use it to make the salary look more attractive.............many nurses on 457's are shocked to see that their take home pay is often nowhere near what they expected from the package. Public Health employers are forbidden from presenting salaries in this manner (at least in Qld) and have to quote salaries without employer's contributions.

I

f a salary offer is itemised - as mine has been in the past, you should know exactly what your salary is. Are they not all itemised,I thought it was a standard presentation method! When I've been asked about salaries when applying for jobs, I quote the TAP as I feel that is the most transparent way to compare offers.

[amibovered]

I am still a bit confused, do you get this Super and also a state pension?

 

as far as I'm aware yes BUT, your pension is means tested, so if you have been paying your super for a number of years you'll probably be unable to get the pension, likewise if you get a British pension you'll get a bit knocked off your Aussie one, I'm sure someone will correct me if I'm wrong.

[Guest TheArmChairDetective]

I am still a bit confused, do you get this Super and also a state pension?

 

what to be confused about mate?

Read the small print on your fund, for me I get say £100 per week as a pension payment until aged 66. At Age 66 I get say £10 per week state pension and my super an fund reduces by that much so I get £90 from them. I still get £100 per week.

 

 

But I say again, go see your rep re your UK fund. Also.....ask about what your going to do with your "pot" once you go to oz, will you freeze it in the UK and start again in Oz? Will you transfer it to your new pot in Oz?

[Guest The Ropey HOFF]

what to be confused about mate?

Read the small print on your fund, for me I get say £100 per week as a pension payment until aged 66. At Age 66 I get say £10 per week state pension and my super an fund reduces by that much so I get £90 from them. I still get £100 per week.

 

 

But I say again, go see your rep re your UK fund. Also.....ask about what your going to do with your "pot" once you go to oz, will you freeze it in the UK and start again in Oz? Will you transfer it to your new pot in Oz?

 

 

I think I will freeze it, at least we know what we will get, moving it into another fund could mean disaster, we have been lied to before more than once by financial advisers, who just want to make a quick buck.

[Guest TheArmChairDetective]

I think I will freeze it, at least we know what we will get, moving it into another fund could mean disaster, we have been lied to before more than once by financial advisers, who just want to make a quick buck.

 

I wasn't going to lead you by your nose, just let you make your own decision.

Certainly, If I were in your position I would freeze it and when it pays out have it paid into a UK account transferring a yearly lump, or if not desperate a triennial transfer.

[Johndoe]

Point taken on your Super amount and the context it was raised but on forums where I see people quoting precise large sums of personal wealth, I view it as them wanting to do no more than brag at how rich they are. Why quote figures, why not just say 'a substantial amount' and leave it at that? $750k is a substantial amount even for a millionaire!! :-)

 

I don't understand why you're labouring this point? I made it clear that I posted in the context of someone saying that Australian pensioners were having to retire to Bali in order to live comfortably, and it has nothing at all to do with those coming to Oz now or how hard it is for new migrants compared to what it once was, which i fully appreciate and sympathise with.

 

I will try again...........those pensioners (supposedly moving to Bali) will have/should have contributed to their pension longer than we have (my wife). To clarify our situation.............we don't have 750k in superann atm..............that is the projected figure if she continues to contribute at her current rate and retires at 60. It could be more if we make additional payments. Take that as bragging if you want, I merely mmentioned it to illustrate our financial situation after beinhg here for 15 yrs as compared to folk who've lived here all their lives having to move to bali (supposedly).

 

Assuming she does retire at 60 with the current rate of payments and if she takes out an annuity with that superann at 7% and assumes that she will live till 90, that will give her approx $60,000 a year in pension payments................Hardly a millionaires lifestyle but enough to live comfortably without having to move to Bali...........all done on one income. So why, should those pensioners spoken of, who have had longer to contribute and who may have had 2 incomes, need to move to Bali? Because of the cost of living? No, becuase they either didn't provide for their future or because they want more bang for their bucks.

 

By 'blessed' I meant arriving at a time when housing costs were lower prior to the house and salary cost explosion. Of course you only knew this with the benefit of hindsight. Nor is it saying you didn't plan or work hard but circumstances were in your favour; definitely more than they are for new migrants today (though I don't believe it is all doom and gloom today either).

 

Again, I don't know why you're labouring this point. My post has nothing at all to do with old/new migrants and is in response to the Bali statement which I question the validity of. I fully empathise/sympathise with how much harder it is nowadays for new migrants and have often mentioned in this forum that we got in at the right time and were lucky...................."luck" and "bragging" don't go hand in hand do they?

[Johndoe]

I

f a salary offer is itemised - as mine has been in the past, you should know exactly what your salary is. Are they not all itemised,I thought it was a standard presentation method! When I've been asked about salaries when applying for jobs, I quote the TAP as I feel that is the most transparent way to compare offers.

 

No they often don't, leastwise in the area that I am familair with (health). My wife was offered a job and told what the annual salary was (verbally) and she didn't receive her contract until 6 weeks later. That was 18 yrs ago. It may have changed in some areas of health but I know some nurses in the public sector who recently got the same treatment. Superann wasn't, and to the best of my knowledge, still isn't, mentioned in the Qld Health salary statement on the contract, other than to say the employer pays 9%.