British Pensions in Aus

[Petals]

http://www.theage.com.au/money/super-and-funds/pensions-suffer-in-britains-big-freeze-20130416-2hxdb.html

 

Good article in the Age today about British Pensioners and the problems with the exchange rate and the frozen pensions. I did not realise that pensioners cannot access centrelink top ups until they have lived here for ten years. That is a long time without an increase.

[Guest scrumpy]

FFS!!!!

The Union flag is upside down in the vid!

But atleast the Ozy Gov is trying to sort it out. (pensions that is, not the flag!)

[Bridgeman]

This is affecting us. 18 months ago we paid a huge amount of money to the Australian government for our parent visa, and had to sell our house to raise the money. We are now finding it very difficult here from a financial point of view, especially in Perth. We came here as our grandchildren are here and soon all our family may be here. When we started this grand project several years ago, it seemed like a good idea. Howeve, the way things are going, and if the exchange rate drops any further, then our long term future here will be in doubt. We have not yet bought a property here as at the current rate we do not want to bring what remains of our house money over as we would only be able to afford a 'small box'. However, the cost of rentals is astronomical here and we don't see this as a long term solution. Fortunately we don't need to rely wholey on the UK state pension, but all our pensions are in UK pounds so the exchange rate has a great effect on our buying power.

 

And I don't think there's much chance of the Oz government giving us our money back if we were forced to return to the UK!

[kipper2]

FFS!!!!

The Union flag is upside down in the vid!

But atleast the Ozy Gov is trying to sort it out. (pensions that is, not the flag!)

Good one!I'm not going to bite:biggrin:

[Guest scrumpy]

Good one!I'm not going to bite:biggrin:

 

Honestly it is the wrong way up, look it up on the net,

 

Honest, its true

[ramot]

We have been retired in OZ for 10 years and do feel angry that the UK state pension is frozen. There is a group you can join that is still fighting the injustice.

We are back in UK for a few weeks and always have our pension increased while we are here, just to make the point.

at the present rate we would be 250 pds better off with our combined pension every 4 weeks, not an amount to miss lightly!!!!

it was our choice to retire here, so we have to slightly shrug our shoulders as we knew the conditions, but when you have paid everything in UK all your working life, and still pay UK tax on all your income, it does rankle.

we are self funded retirees here so won't be eligible to anything ever from center point to make up the short fall as at least if you are PR you should be able to one day.

[Petals]

There is no doubt this is a problem for a lot of people, especially parents who want to join their children and have no dependents left in the UK. I have never understood why the USA gets it indexed after all it is not even a Commonwealth Country. This is one of the reasons I have always had republic leanings. Visas like aliens visiting UK and vice versa for Aus, pensions frozen. Not entirely friendly stuff to expats.

[Fisher1]

Yes the whole thing is a mess. Why the UK gov insist on this stance is beyond me - after all expat pensioners are saving them an absolute fortune on meds and procedures which increase in liklihood as the years go by. Not to mention social care, bus passes et al. I am still in the UK but have been seriously wondering if there is any way to cheat the system. This from a law abiding rule follower who has never even had a parking ticket. The injustice of the whole thing makes me so angry. particularly when people are still paying tax. I also think that the UK gov should bear in mind that most parents moving to Australia are doing so to be with family. I want to be near my only child - who wouldnt? and for that people are being abslutely fleeced, it seems to me. I am seriously wondering about the logistics of setting up home in the Phillipines!

[Flathead]

The Australian government are not blameless In this. It came about because of a spat between the two countries. Prior to the fall out Australia would count years worked in the UK towards an Australian pension...they stopped that at the same time as the longstanding agreement broke down

 

​and nobody forces anyone to live here....you know the rules

[Xenon4017]

Obviously they do it to save money from a marginal group of people who are unlikely to organise themselves into a credible voting force. You're being hit twice; firstly because the number of pounds isn't being increased as it would for domestic pensioners, and secondly because the exchange rate has changed. Not that the govt should compensate you for the latter though. I get the impression that the govt thinks that most immigrant retirees are self-funded and that the state pension was just used as "ice-cream" money. From the economic standpoint, any pensions paid oversees don't contribute to the UK economy, so I can understand why they're reluctant to increase this figure.

 

But, like some people have already said, it is what it is. Best thing is to hope that inflation stays low.

[Guest guest74886]

Yes the whole thing is a mess. Why the UK gov insist on this stance is beyond me - after all expat pensioners are saving them an absolute fortune on meds and procedures which increase in liklihood as the years go by. Not to mention social care, bus passes et al. I am still in the UK but have been seriously wondering if there is any way to cheat the system. This from a law abiding rule follower who has never even had a parking ticket. The injustice of the whole thing makes me so angry. particularly when people are still paying tax. I also think that the UK gov should bear in mind that most parents moving to Australia are doing so to be with family. I want to be near my only child - who wouldnt? and for that people are being abslutely fleeced, it seems to me. I am seriously wondering about the logistics of setting up home in the Phillipines!

 

Or a PO box address in a country where UK pays upgrades and has easy flights to OZ or another wheeze might be an offshore account with a UK bank and never tell them you left. All a bit hypothetical but one can't help wondering, anybody know a bent lawyer?

[Fisher1]

Ha ha - basis of a good novel there? Bent pensioners in Phillipine based pension laundering scam. Could be hilraious. Where is Tom Sharpe when you need him :-)