Thistle13 Posted January 23, 2013 Author Share Posted January 23, 2013 They changed the rules last year. If you live overseas, you can't collect your full Aussie pension unless you've worked at least 35 years in Australia before age 65. I've only been in Oz for 27 years and I had a few years off work during that time, so I don't have enough time left to rack up the 35 years. Sux big time. I've worked full time for 25yrs in Australia and only have 7yrs left to retirement anyways, I worked 10yrs full time in UK and it looks like I will be short changed when I go back. Not expecting what I'm not entitled to, but at least a pro rato pension from each irrespective where im living would be nice. I know someone in Aus who NEVER worked in the UK! But because she is English born and retired here last year, she gets a UK pension, not much, but it's something. Link to comment Share on other sites More sharing options...
Say Posted February 3, 2013 Share Posted February 3, 2013 I'm sure whatever u decide will be best for you. Good luck. Hope when you get back you arent too surprised of how different it is. Link to comment Share on other sites More sharing options...
patsmb Posted February 4, 2013 Share Posted February 4, 2013 At the minute is 25 years in Aus for full pension -that will change in January 2014 to 35 years if the legislation is passed Check with the over seas UK office -Newcastle -upon Tyne as in get a UK pension forecast for your UK contribtions plus ask if your worh history in Oz counts towards your UK pensions (that would only be if you were living in the UK ) If you had around 27 years Oz working life -and it does not mean you had to work here its the time spent between the age of 16 and retirement you would get 27 420ths of your Aussie pensions in the UK I have just goen through all of the above with Centrelink International so its worth a phone call Link to comment Share on other sites More sharing options...
starlight7 Posted February 4, 2013 Share Posted February 4, 2013 I can't see why they don't pay your Australian pension to you wherever in the world you live. None of their damn business and you have earned it after all. In fact it could be regarded as theft! Link to comment Share on other sites More sharing options...
patsmb Posted February 5, 2013 Share Posted February 5, 2013 Uk pension is the same though as its frozen in time and you dont get an increase each year if your overseas No reciprocal agreement any more either with Uk and Oz as it was ended several years ago - ended by Australia because the UK would not index link as in up the Uk pension every year for anyone living abroad unless its an EU country The Aussie pension paid overseas will go up when there is a raise here so thats a bonus system in some ways Link to comment Share on other sites More sharing options...
starlight7 Posted February 5, 2013 Share Posted February 5, 2013 Well I just think the UK government are thieves- no other way to describe them. Link to comment Share on other sites More sharing options...
Thistle13 Posted February 5, 2013 Author Share Posted February 5, 2013 Well I just think the UK government are thieves- no other way to describe them. All governments are thieves....... its all about them, not the people who just want what owed them. I have NEVER taken off the Australian government. I arrived here in Jul88 and started working fulltime in Feb89, after getting set up in a house, hubby was working and the boys were well and truly settled into school. I havent stopped working since. So what I've contributed is mine, and if I want to leave the country I should be allowed to withdraw MY Superannuation money and take it where I want to, after all, I actually salary sacrificed to contribute to it whilst I lived off savings. grrrrrrrr :realmad: Link to comment Share on other sites More sharing options...
Petals Posted February 5, 2013 Share Posted February 5, 2013 Its becoming harder and harder, my friends live in Fiji he is retired and she is on sick pension due to heart condition, she has to return to Aus all the time to get her pension, about every three months. They are now moving back to Aus as its all too hard living away, Centrelink want people in their office face to face these days. Also they expect us to get pensions from every country we have worked in, I get one from Aus, New Zealand and UK presently. They arrange the overseas pensions so the pension departments are in touch world wide these days, truly is big brother. Link to comment Share on other sites More sharing options...
fizzybangs Posted February 7, 2013 Share Posted February 7, 2013 I travelled once on a UK passport in the wrong name (I didn't have an Aussie passport and had remairried), the ticket in the current name. I stopped off in Tokyo en route and the Japanese immigration officer looked at me very strangely when I offered him my divorce and remarriage certificates and waived me through! got out of Oz without any problems but realised afternoon before leaving that I would need a re-entry visa to Oz so mad rush into Brisbane to get one at last minute! I was an Aussie Citizen. Link to comment Share on other sites More sharing options...
fizzybangs Posted February 7, 2013 Share Posted February 7, 2013 AUSTRALIAN PENSIONS. You cannot claim an Aussie Age Pension unless you are 'domicile' in Australia on your 65th Birthday. If you return to Oz and can prove you are 'domicile' (ie have rented a house/unit, have electricity bills etc) on or after your 65th Birthday (or whenever you reach retirement age depending on when you were born) then you can claim the Age Pension but must remain in Oz for at least 2 years before leaving again and then it is 'discretionary'. It is safer to wait until you have your Age pension and then leave as it is then portable. However, if you live in the UK you cannot claim. Ireland you can. France and a host of other countries (some of which I had not heard of) you can because they have a reciprocal agreement with Oz. UK does not have the reciprocal agreement - it was cancelled. If you do not have sufficient years (again depending on when you were born) then you will get a pro-rata age pension. Link to comment Share on other sites More sharing options...
fizzybangs Posted February 7, 2013 Share Posted February 7, 2013 Just to clarify above - you cannot put in an application from UK. If you already have it, it is portable to UK. If you move to Dublin then no problem when you reach retirement age - you can claim from there. Heaps of info on centrelink website. Link to comment Share on other sites More sharing options...
Guest Posted February 7, 2013 Share Posted February 7, 2013 What about employers pension funds? I've not been here long enough for it to matter that much but 4 years of 9% of my salary (& my OH's) is still a fait nit of money. I know I can't withdraw it but I assumed I would get it at returement age (probably just enough to buy a coffee but hey, it's mine!) Link to comment Share on other sites More sharing options...
NickyNook Posted February 7, 2013 Share Posted February 7, 2013 What about employers pension funds? I've not been here long enough for it to matter that much but 4 years of 9% of my salary (& my OH's) is still a fait nit of money. I know I can't withdraw it but I assumed I would get it at returement age (probably just enough to buy a coffee but hey, it's mine!) You will get access to your Australian superannuation when you retire (any time after the age of 55, though you might pay more tax if you are under 60). Any pension you receive from your super (after the age of 60) will be tax-free if you live in Australia. Any pension you receive from it won't be tax-free if you live in the UK - because the UK will treat it like normal income. You just can't withdraw the whole super amount and take it to the UK prior to retirement. It must stay in Australia if you are PR or a citizen. After retirement you can withdraw the lot and do what you want with it - including sending it to the UK. Link to comment Share on other sites More sharing options...
patsmb Posted February 8, 2013 Share Posted February 8, 2013 All governments are thieves....... its all about them, not the people who just want what owed them. I have NEVER taken off the Australian government. I arrived here in Jul88 and started working fulltime in Feb89, after getting set up in a house, hubby was working and the boys were well and truly settled into school. I havent stopped working since. So what I've contributed is mine, and if I want to leave the country I should be allowed to withdraw MY Superannuation money and take it where I want to, after all, I actually salary sacrificed to contribute to it whilst I lived off savings. grrrrrrrr :realmad: You used to be able to draw super at 55 I did when we were in the UK Link to comment Share on other sites More sharing options...
Paul1Perth Posted February 8, 2013 Share Posted February 8, 2013 What about employers pension funds? I've not been here long enough for it to matter that much but 4 years of 9% of my salary (& my OH's) is still a fait nit of money. I know I can't withdraw it but I assumed I would get it at returement age (probably just enough to buy a coffee but hey, it's mine!) Have you looked at rolling it into a pension fund in the UK? Don't know if it's possible but would be interesting to find out. Link to comment Share on other sites More sharing options...
Thistle13 Posted February 8, 2013 Author Share Posted February 8, 2013 Have you looked at rolling it into a pension fund in the UK? Don't know if it's possible but would be interesting to find out. If Ive got my facts right, and its a minefield out there in pensionland. Its all age dependent, in other words, if you have reached preservation age (check http://www.ato.gov.au) (transition to retirement), then you can withdraw your super, if you are over 60 but havent reached retirement age, then its tax free. You can then arrange to deposit it into maybe a UK annuity and draw on it (check Hargreaves Lansdown / Annuities / free online calculator). http://www.hl.co.uk/pensions Hope this helps Link to comment Share on other sites More sharing options...
fizzybangs Posted February 8, 2013 Share Posted February 8, 2013 Yep, I'm 62 and can take money out tax free but there is still a component of it that I can't access (preservation amount) until I'm 65. I had to fill out a form to say I wasn't going to work again. I will have to leave an Aussie bank account open according to what I've been told as super companies won't pay into an account abroad. Check with your own super company. I have heard of people taking their super out when leaving - not sure how it works but it attracts a high tax slug apparently. It would be worth phoning your super and telling them that you are emigrating for good and want to withdraw it and find out what they say. We are with Sunsuper and find them very helpful. Link to comment Share on other sites More sharing options...
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