Rodfan Posted June 23, 2014 Share Posted June 23, 2014 Not posted for ages!! Been trying to avoid forums about returning and just been getting on with life in OZ, always with one foot in each country! But here I am again!:wub: Cut a long story short, I have two sons settled here aged 38/25 who are not likely to move back, husband who prefers OZ , but prob would move back if our Sons weren't here, when I mention moving back says we are stuck here because of the boys. They are both getting on with there own life's (one going to make me a Granny soon) and could afford to visit us in UK if we went back, I would miss them like hell, but don't feel myself here, miss family so much too and way of life in UK. Does anyone know what our pension situation would be now on returning? Been in OZ since 2005. Tx in advance:unsure: Quote Link to comment Share on other sites More sharing options...
Lucia Posted June 23, 2014 Share Posted June 23, 2014 I don't have any great advice, I'm afraid. Just wanted to say that I feel for you in such a situation. I too try to avoid this forum as it stops me from getting on with life...but here we are! It must be so difficult if your sons are settled here. This is what I fear. I don't want to get my kids settled into school in a few years and for me to still be longing for home. Could you go back for six months to a year to try it out? People say a lot has changed in the UK and maybe the things you long for won't quite be the same without your immediate family around you. Have you always felt the pull? Were you happy here at first? Quote Link to comment Share on other sites More sharing options...
Marisawright Posted June 23, 2014 Share Posted June 23, 2014 (edited) ! Cut a long story short, I have two sons settled here aged 38/25 who are not likely to move back, husband who prefers OZ , but prob would move back if our Sons weren't here, when I mention moving back says we are stuck here because of the boys. They are both getting on with there own life's (one going to make me a Granny soon) and could afford to visit us in UK if we went back, I would miss them like hell, but don't feel myself here, miss family so much too and way of life in UK. Does anyone know what our pension situation would be now on returning? Been in OZ since 2005. The big downside of moving back now is that you won't be able to claim your Australian pensions if you go now. The only way you can get it is to return to Australia when you reach pension age and stay here for two years - a fairly expensive thing to do. Of course what you have to consider is, when would you be eligible for an Aussie pension? If you've got any significant assets, or too much super, then you probably won't get the full Aussie pension for years after retirement age anyway. On the plus side, provided you paid at least 3 years of National Insurance contributions in the UK, you will be able to claim a partial British pension. The formula is simple - to get the full UK pension you need 30 years of NI contributions. If you've worked less, you get that proportion. So, if you worked 20 years you get 20/30ths. There are various rules whereby you can get credit for time out of the work force, e.g. caring for children. If you want, you can make extra contributions to top up your entitlement. The good thing about the UK pension is that it's not means-tested so you'll get it from the moment you reach pension age, regardless of what assets you have. https://www.gov.uk/state-pension/eligibility Note that the rules about the UK pension are different if you go back to live in the UK vs staying in Australia, so if you're researching make sure you're looking at the right thing. Edited June 23, 2014 by Marisawright Quote Link to comment Share on other sites More sharing options...
Guest241083 Posted June 23, 2014 Share Posted June 23, 2014 ........I will send you a message later today........ ........because your story is/was.......mine......... ........and I would like to share with you,.,.........achievements......failures.......and thoughts of where I am now......! Quote Link to comment Share on other sites More sharing options...
Jacaranda Posted June 23, 2014 Share Posted June 23, 2014 Its definately not too old,at 54,you should be able to get employment!Plenty of work opportunities to choose from as well,but....that will depend where you are planning to return to?Some area's are much better than others!Your kids are adults,and they will be fine!How will you feel though when your grandchild is born?Kids are one thing,grandkids another!People do move away though and cope just fine with skype ect and visits. Quote Link to comment Share on other sites More sharing options...
Rodfan Posted June 23, 2014 Author Share Posted June 23, 2014 Thank you for your quick replies! We did go back to UK in 2007 for 6 months, but Hubby couldn't settle and wanted to return (missed our boys) I reluctantly agreed, as felt guilty! I knew OZ was not for me almost in the first few months, but knew I had to give it a proper go. I am here because of them, not because I love OZ any better really. Just used to it, but can't be bothered making much effort nowadays to get out meet people etc.. We did not realise we could not access our super that we have paid since being here once back, and thought you could claim it once you left OZ permanently? Relieve to read that we could claim British one though still. Heyhoo...back to living a half life I guess again for now:-( Quote Link to comment Share on other sites More sharing options...
Marisawright Posted June 23, 2014 Share Posted June 23, 2014 (edited) Thank you for your quick replies! We did not realise we could not access our super that we have paid since being here once back, and thought you could claim it once you left OZ permanently? Relieve to read that we could claim British one though still. Oops sorry, didn't mean to mislead ... I'm talking about your Australian government pension. I missed the fact that you've only been here a fairly short time, so you wouldn't be eligible for that anyway. You'll be able to claim your super when you reach pension age just like you would if you stayed in Oz - unless your money is in a self-managed super fund. If that's the case, then you'll have to close it down and move the money to an ordinary super fund, because once you become non-resident it will be taxed heavily. Where do you live in Australia? Edited June 23, 2014 by Marisawright Quote Link to comment Share on other sites More sharing options...
Rodfan Posted June 23, 2014 Author Share Posted June 23, 2014 Marisawright Thankyou. i guess I am trying to figure out where we will be better off when we retire. Will we be eligible for an Australian Government pension given our ages now if we do retire here? How does it compare with UK one, I believe it's not much. Not going to be rich anyway..lol! Quote Link to comment Share on other sites More sharing options...
Rodfan Posted June 23, 2014 Author Share Posted June 23, 2014 We live in Melbourne. Quote Link to comment Share on other sites More sharing options...
Quoll Posted June 23, 2014 Share Posted June 23, 2014 Marisawright Thankyou. i guess I am trying to figure out where we will be better off when we retire. Will we be eligible for an Australian Government pension given our ages now if we do retire here? How does it compare with UK one, I believe it's not much. Not going to be rich anyway..lol! You may not be eligible for the Aus pension - it's a means tested Centrelink benefit not an automatic thing that everyone gets. The gov is keen for people to be self sufficient in retirement and, like most other things, they won't let you take it with you (in full unless you've been in Aus for 35 yrs) should you want to leave. Are you still paying into the UK system? You can back pay 5? Yrs from Aus and keep yourself current. Can you give it a go for a year and see how it works out for you? Quote Link to comment Share on other sites More sharing options...
Petals Posted June 23, 2014 Share Posted June 23, 2014 I also understand that you will have to be living in Australia at the time you become pension age to access the pension. If you leave the country that is it. I know this because it happened to my friend's brother and his wife. They were living in Fiji and she had a disability pension and he was on aged pension. She had to keep coming back to Aus ever six or 8 weeks to keep her pension. However if her husband died then she would not be entitled to a pension if not living in Aus despite living here for 25 years. Quote Link to comment Share on other sites More sharing options...
juliedec Posted June 23, 2014 Share Posted June 23, 2014 Be interested to find out about this too ...hubby been here working for 34 yrs ...citizen ..im 4 years (on..off ) as per visa requirements...we want to go back to Ireland next year ...he assumed he could just take it with him ....as usual nothing is ever easy lol Quote Link to comment Share on other sites More sharing options...
Rodfan Posted June 23, 2014 Author Share Posted June 23, 2014 We will make contributions to top up our UK pensions, as we fall short of about 3/5 yrs however when I last enquired about topping it up was told by DWP, that it wasn't worth doing so until 2016 as UK pension requirements could change again. If then we do retire in OZ they will make us claim our UK pension anyway, as I understand... Quote Link to comment Share on other sites More sharing options...
Marisawright Posted June 24, 2014 Share Posted June 24, 2014 (edited) Marisawright Thankyou. i guess I am trying to figure out where we will be better off when we retire. Will we be eligible for an Australian Government pension given our ages now if we do retire here? How does it compare with UK one, I believe it's not much. Not going to be rich anyway..lol! You must have been resident in Australia for 10 years to qualify for the Australian pension, if you live in Australia (if you leave, the threshold jumps to 35 years!). However, it is means-tested so you may not get it until later in life, depending on how much you have in assets. ] If you have an idea how much money you'll have by retirement age, you can plug it into this calculator and it will tell you whether you'll get any pension and how much: http://yourpension.com.au/APCalc/index.html The calculator takes into account all income, so yes, if you're getting a UK pension it will be included and may reduce your Australian pension. I'm not sure Centrelink will force you to apply for the UK pension but you'd be silly not to. After all, you'll be able to claim it from the day you're eligible, which you may not be able to do with the Aussie pension. Edited June 24, 2014 by Marisawright Quote Link to comment Share on other sites More sharing options...
Marisawright Posted June 24, 2014 Share Posted June 24, 2014 You may not be eligible for the Aus pension - it's a means tested Centrelink benefit not an automatic thing that everyone gets. The gov is keen for people to be self sufficient in retirement and, like most other things, they won't let you take it with you (in full unless you've been in Aus for 35 yrs) should you want to leave. ...bearing in mind that even if you're "up to date" you won't get it unless you're in Australia at the time you want to claim it. Plus you need to stay in Australia for up to two years, otherwise you lose it again. Quote Link to comment Share on other sites More sharing options...
Marisawright Posted June 24, 2014 Share Posted June 24, 2014 Be interested to find out about this too ...hubby been here working for 34 yrs ...citizen ..im 4 years (on..off ) as per visa requirements...we want to go back to Ireland next year ...he assumed he could just take it with him ....as usual nothing is ever easy lol You're in luck! Unlike the UK, Ireland has a social security agreement with Australia. That means you can claim your Australian pensions there, without having to come back. You just have to fill out a form. You won't get the full pension, but he'll get 34/35ths and you'll get 31/35ths. Of course, the means test still applies. http://www.humanservices.gov.au/spw/customer/forms/resources/aus140-1312ie.pdf Quote Link to comment Share on other sites More sharing options...
juliedec Posted June 24, 2014 Share Posted June 24, 2014 Thank you Marisawright..that's really helpful...... Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted June 25, 2014 Share Posted June 25, 2014 Not posted for ages!! Been trying to avoid forums about returning and just been getting on with life in OZ, always with one foot in each country! But here I am again!:wub: Cut a long story short, I have two sons settled here aged 38/25 who are not likely to move back, husband who prefers OZ , but prob would move back if our Sons weren't here, when I mention moving back says we are stuck here because of the boys. They are both getting on with there own life's (one going to make me a Granny soon) and could afford to visit us in UK if we went back, I would miss them like hell, but don't feel myself here, miss family so much too and way of life in UK. Does anyone know what our pension situation would be now on returning? Been in OZ since 2005. Tx in advance:unsure: Never too old but probably better to do it at 54 than in twenty years at 74. Still saying that a relative of mine did it at 80. Quote Link to comment Share on other sites More sharing options...
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