le petit roi Posted April 14, 2015 Share Posted April 14, 2015 Putting this out there; if nothing else maybe provide me with some cathartic relief. I've just turned 50, fit, healthy. I've been employed since the day I landed in Oz 9 years ago but now undergoing a period of discontent as well. That discontent has been there for the last 18 months and since turning 50, its at the stage now where, to quote song lyrics, 'do I stay or do I go now'? I'm in a reasonably secure (ultimately non-fulfilling) employment position in Oz albeit there will be around 1500 redundancies nationally over the next 18 months. I'm also single with no kids and parents, most of my siblings and their families are in Scotland. Financially in the Uk I own a mortgage free flat that, worst case, I will be able to stay in immediately should I return. I continued to make NI contributions during my stay in Oz so that is up to date and have various cash savings in the Uk and Oz which I can access at any time. I understand that my Oz Super will not be accessible until at least 60 but I can't base my life around something I have little control of nor will I know what further restrictions will be on it at that time. There are aspects I love here and have made some good friends. However, the cost of property kills me. Currently, I can live near work and the city by renting however, there are several downsides to renting which impairs my enjoyment - though my landlord is excellent. If I wish to buy, it will cost several hundred thousand dollars for a small 2 bed unit and not really feasible on a single income. Moving further out, negates lifestyle choices and interests that I currently enjoy and I'd be likely stuck in a crap area in the arse end of the world. The arse end of the world is not really where I want to be, neither now nor older. Up until recently, I made life changing decisions based on what I wanted, confident in my abilities. Being pragmatic, I recognise that now my abilities alone may not be sufficient. Emotionally, I think I know what I want to do. Financially, it will be the biggest toss of the coin I could ever make. I also think being restricted to how I invest my savings is not helpful to me and contributes to feelings of frustration I have of living here. Link to comment Share on other sites More sharing options...
starlight7 Posted April 14, 2015 Share Posted April 14, 2015 Presumably you have worked in the UK for 20 odd years or so, so you would be entitled to most of a British pension. Maybe pay up the rest so you get a full one? Other options besides returning might be to look at a large country town if you can get work because property is much cheaper as I am sure you are aware. With the Australian pension, I think you have to be 65 at least and they will deduct from it what you receive from the UK anyway. Private pensions vary of course. The good thing to get is the concession card- even if you only get $1 a week pension! Failing that- a health care card, easier to get than a concession card. Someone I know of has just bought a permanent residence ( fancy cabin really) in one of the Big 4 caravan parks- cost her about half what a unit would and it is all hers. Link to comment Share on other sites More sharing options...
Bungo Posted April 14, 2015 Share Posted April 14, 2015 I assume that you mean emotionally you want to go back to the UK. But apparently it is not so clear financially? I didn't get that, because it looked like. A bit of a no brainer financially based upon what you said. You have a property in the UK, whereas you rent in Australia and cannot afford to buy in the places you would like it live.As for the pension being locked up, well that is normal for pensions. I have always seen it as a good thing to have something locked away for retirement. Pensions are locked away in the UK until age 55, and last week ago for longer than that. Link to comment Share on other sites More sharing options...
le petit roi Posted April 15, 2015 Author Share Posted April 15, 2015 I think the last letter from the NI office said I had 30 years NI contributions. From memory it did used to be 35 years and I'm not sure how many years are now actually needed for a full pension but I must be close to it. The NI conributions and the Oz Super will take care of itself; I only need to monitor because I realise any pension or Super I have is locked away and its not something I can access or use for at least another 10 years. I think my concerns lie in moving back and never finding a job again because that's what will provide the cash flow to do some of my hobbies and pastimes. The thought of not having a reasonable cash flow for the next 15 years is a concern which is affecting my decision. How realistic or unrealistic those fears are I have no idea and maybe I'm just being overly pessimistic. Although I can live relatively inexpensively, don't need the latest and greatest fads and consumer gadgets, some occasional cash flow is necessary to continue doing some of my hobbies and pastimes. I realise some people on this forum have far more difficult decisions to make about going back to the UK versus staying in Oz than the one I am currently trying to undertake. I have as many pros and cons for each scenario I paint. When it comes down to it, this is as hard a decision I have had to make in the last 30 years. Link to comment Share on other sites More sharing options...
Gbye grey sky Posted April 15, 2015 Share Posted April 15, 2015 On the plus side nobody else will be negatively affected by your decision but on the downside you have nobody to bounce your thoughts off. Would you plan on living in your flat in Scotland if you returned? I presume it is in an area you would be happy to live in as long as you could find a job relatively near it. Are you in a position where you can take a long holiday or short career break. You could then come back and apply for jobs. Start the process before coming over also. For most people of 50 finding worthwhile employment is not easy. Something which is ridiculous as in my experience a 50 year old is likely to have fewer sick days and stay around far longer than a 25 year old but employers have an ingrained prejudice I find. I am 54 and there comes a time when you hit your 50s when you have to start considering where you would prefer to be when you are old. Link to comment Share on other sites More sharing options...
le petit roi Posted April 15, 2015 Author Share Posted April 15, 2015 I am 54 and there comes a time when you hit your 50s when you have to start considering where you would prefer to be when you are old. I think this hits the nail on the head which is swaying my current thinking. Link to comment Share on other sites More sharing options...
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