adventure time Posted September 12, 2016 Share Posted September 12, 2016 Hi All - this is my first post after accidentally coming across this website, we are heading back to the north of england after 20 years in Perth, the kids are grown and off having there own adventures and while Perth has been very good to us in terms of work and educating our children its now time to stop and think what we want, as being late 50's who the hell knows how much longer we have got to be fit and healthy and enjoy life. We have been back only a few times in the past 20 years but after talking to friends and family we are under no illusions that the grass is greener on the other side, we just love the idea of being so close to Europe and being able to go to London for the weekend or Ireland or worse case scenario Wales .... Perth is a beautiful city but oh so boring and I hate hate hate the long dry summers with a passion. Just a few questions - is it better to sell all your possessions here (for buttons on Gumtree) or try and take stuff with you, while we don't want to take big pieces like wardrobes and beds, over the years we have accumulated lots of nice one off pieces .. can anyone recommend a reasonable moving company for Perth to Manchester. What do you do with a life time of documents ? I am frantically scanning photos and other important documents that we may at some stage need - looking around at 20 years of "stuff" in a 5 x 3 house its a daunting idea to try and find a home for things or sell when we have bought a 60sm city flat - I love the idea of finally living light Sell or keep house in Perth - I hate the idea of renting out our family home but selling seems so final and Perth prices are dismal at the moment ? This is a huge move for us and we need to make good decisions as money may be tight depending on the sale of the house ? Any thoughts appreciated Link to comment Share on other sites More sharing options...
suesmalls Posted September 12, 2016 Share Posted September 12, 2016 Hi There, I may not have a lot of answers for you but we are doing the same thing, lived south of Perth for 16.5yrs in the same house and I'm actually born and bred in Australia - husband wants to be back nearer to family. We have accumulated so many things and starting again at nearing the age of 50 is scaring me. I posted similar question(s) some days ago and most seem to say sell the big items (as they may not fit in the UK houses) - but depends if you know what sort of housing etc you're going to be living in. We've started the gumtree selling and garage sale - absolute bargains and has taken up every spare waking moment I have. But don't just want to throw it away (although I practically am). Plus I have a massive clothing and shoe collection that isn't going to be needed. We are keeping those items that hold special memories but have decided against taking the 2 big red & orange leather lounges, nearly new French door fridge / freezer, beds (washer & dryer still undecided as they are very big and may not fit in houses over there). I started selling off my king size bedding (new) until I found out on this forum the size will be super king in UK and will fit - so stopped selling my bed linen off. But mattress and large king size bedroom suite will have to be sold for nothing too. The house is our biggest question too - we have an overcapitalised house, the best house in the worst street scenario - we have rented once before and cost nearly $100,000 getting it back to a lovely house again. The stress was too much so we have decided we will have to drop price by about $80,000 and only just clear the mortgage; Perth market isn't the best but will probably not get better in the next few years - very few projects coming on line (that we know right now - I work in the oil & gas industry). The rent won't be enough to cover mortgage and the very high maintenance our home is (quarter acre with large pool and dozens of trees and extensive landscaping). So money will also be a big issue for us and we will be going back with nearly nothing. But if you have low maintenance home, can afford to cover any shortfall in rent, it could be good nest egg to sit on. Ultimately in the long run houses do appreciate. Your superannuation can't be touched until you hit preservation age unfortunately. I haven't started scanning documents etc like you but it's a great idea - trying to do everything whilst you're working is a hard task so well done on getting through things. Removalists - Kentz, Crown, PSS, Santa Fe (tend to be more expensive). From what I've read PSS may use Kentz and vice versa (not sure on that). This may throw you a bit but go to productreview.com.au and look at feedback from people. I have used Kentz, Crown and Santa Fe through work (not for myself0 and Kentz (& Toll) were always cheaper. I've used Santa Fe (Wridgways) on a move from Perth to Karratha and back - they were good but pricey. Had no choice to use them as they were my employer's preferred choice. I am going to get prices from Kentz and Crow personally. From the reviews I've done they seem to be more economical and know what they're doing (You will read horror stories on most of the removalists). Good luck and hope to hear how you're getting on and what feedback / input you get from those that have done it. Link to comment Share on other sites More sharing options...
Marisawright Posted September 13, 2016 Share Posted September 13, 2016 Hi All - this is my first post after accidentally coming across this website, we are heading back to the north of england after 20 years in Perth, the kids are grown and off having there own adventures and while Perth has been very good to us in terms of work and educating our children its now time to stop and think what we want, as being late 50's who the hell knows how much longer we have got to be fit and healthy and enjoy life. We have been back only a few times in the past 20 years but after talking to friends and family we are under no illusions that the grass is greener on the other side, we just love the idea of being so close to Europe and being able to go to London for the weekend or Ireland or worse case scenario Wales .... Sell or keep house in Perth - I hate the idea of renting out our family home but selling seems so final and Perth prices are dismal at the moment ? I wish you the best of luck with your new adventure! I'd say definitely rent out the house rather than sell - why sell in a bad market? Make sure you get a depreciation report first - you won't get much on an older house but any tax deduction is better than none, because you will have to pay Australian tax on the rent (and you'll get no tax-free threshold if you're a non-resident). Also consider if you're renting it out, whether to leave some of the furniture or appliances for the tenants? I don't know what it's like in Perth but in Sydney, if you could provide a washing machine/dryer/fridge you could charge a bit more rent. If you're going to be practically giving the stuff away anyway, you might as well leave it in the house in that case. However, do remember that advertising on Gumtree is free so you can "test the market" with higher prices. We sold some of our stuff on Gumtree but I listed things for reasonable prices not bargain basement. I also sold some of the newer stuff on eBay and some of the auctions got bid up to high prices (our cappucino maker got almost the same price we paid for it!). Saying that, I did start early so I wasn't in a rush to sell and didn't mind having to wait, I could always lower the price later if it didn't sell. You don't say whether the move is going to be permanent or temporary. If it's permanent, are you aware that you'll forfeit the right to the Australian aged pension? Assuming you worked in the UK before you left, you'll be able to get a part British pension but even the full pension is less than the Aussie one. You'll be able to collect your superannuation but if you take it as a lump sum, the British government will take a slice in tax. If you convert it to a pension, you'll have to declare it on your British tax return and it will be taxed as normal income. We made the move a bit later than you, but we realised we couldn't afford to live in the UK on such a reduced retirement income, so we couldn't afford to make it a permanent move. So it is something to research before you go. Link to comment Share on other sites More sharing options...
suesmalls Posted September 13, 2016 Share Posted September 13, 2016 Quote - You don't say whether the move is going to be permanent or temporary. If it's permanent, are you aware that you'll forfeit the right to the Australian aged pension? Assuming you worked in the UK before you left, you'll be able to get a part British pension but even the full pension is less than the Aussie one. You'll be able to collect your superannuation but if you take it as a lump sum, the British government will take a slice in tax. If you convert it to a pension, you'll have to declare it on your British tax return and it will be taxed as normal income. In regards to the above, I thought Australia / England have sharing arrangement and you can claim Aussie pension in UK (as you can claim UK pension in Australia - when did that change?) Also the superannuation and conversion - I didn't think UK did tax returns or is it slightly different when you're on pension and then you're required to do one? Out of interest where did you go for information on these type of details and advice? Much appreciated. Link to comment Share on other sites More sharing options...
JockinTas Posted September 13, 2016 Share Posted September 13, 2016 Quote - You don't say whether the move is going to be permanent or temporary. If it's permanent, are you aware that you'll forfeit the right to the Australian aged pension? Assuming you worked in the UK before you left, you'll be able to get a part British pension but even the full pension is less than the Aussie one. You'll be able to collect your superannuation but if you take it as a lump sum, the British government will take a slice in tax. If you convert it to a pension, you'll have to declare it on your British tax return and it will be taxed as normal income. In regards to the above, I thought Australia / England have sharing arrangement and you can claim Aussie pension in UK (as you can claim UK pension in Australia - when did that change?) Also the superannuation and conversion - I didn't think UK did tax returns or is it slightly different when you're on pension and then you're required to do one? Out of interest where did you go for information on these type of details and advice? Much appreciated. I'm no expert but to receive the British pension you would have to be paying into the national insurance scheme and to receive the Australian pension you would have to be living in Australia and it's means tested. I think you can live overseas after being here to claim it. I'm sure Marisa or another member will be along to advise you with all the details. Link to comment Share on other sites More sharing options...
rammygirl Posted September 13, 2016 Share Posted September 13, 2016 The UK does not recognise the tax free agreement for Aus super so what would be tax free if you were resident in Australia is taxed in the UK. You must declare any income not taxed at source in the Uk so will be required to do a tax return. This can reduce your income considerably. You should get some financial and tax advice, it could well pay for itself! Same other way round, ATO taxes the interest from my UK ISAs. Link to comment Share on other sites More sharing options...
flag of convenience Posted September 13, 2016 Share Posted September 13, 2016 Hi All - this is my first post after accidentally coming across this website, we are heading back to the north of england after 20 years in Perth, the kids are grown and off having there own adventures and while Perth has been very good to us in terms of work and educating our children its now time to stop and think what we want, as being late 50's who the hell knows how much longer we have got to be fit and healthy and enjoy life. We have been back only a few times in the past 20 years but after talking to friends and family we are under no illusions that the grass is greener on the other side, we just love the idea of being so close to Europe and being able to go to London for the weekend or Ireland or worse case scenario Wales .... Perth is a beautiful city but oh so boring and I hate hate hate the long dry summers with a passion. Just a few questions - is it better to sell all your possessions here (for buttons on Gumtree) or try and take stuff with you, while we don't want to take big pieces like wardrobes and beds, over the years we have accumulated lots of nice one off pieces .. can anyone recommend a reasonable moving company for Perth to Manchester. What do you do with a life time of documents ? I am frantically scanning photos and other important documents that we may at some stage need - looking around at 20 years of "stuff" in a 5 x 3 house its a daunting idea to try and find a home for things or sell when we have bought a 60sm city flat - I love the idea of finally living light Sell or keep house in Perth - I hate the idea of renting out our family home but selling seems so final and Perth prices are dismal at the moment ? This is a huge move for us and we need to make good decisions as money may be tight depending on the sale of the house ? Any thoughts appreciated Perth prices dismal at the moment? Way higher than when you arrived twenty years back and remain over priced by a substantial amount. You would have seen the changes over the duration here. If you think you'll cut ties with Perth, why not sell why prices are still reasonable and the dollar still okay? You need to be sure that returning to UK is the right decision though, not some nostalgic trip to times passed and gone forever. Until that is clear in your minds perhaps holding on to your property here in Perth, may serve a purpose? I would only take the necessary if moving permanently. Along with things of personal value. That's what I did anyway when shipping from Europe. A load of stuff, some now regret, after checking out standard in Perth, giving away or sold for next to nothing. Hence good to decide what exactly would be more suitable to take and what to leave. Link to comment Share on other sites More sharing options...
Guest Posted September 13, 2016 Share Posted September 13, 2016 Hi All - this is my first post after accidentally coming across this website, we are heading back to the north of england after 20 years in Perth, the kids are grown and off having there own adventures and while Perth has been very good to us in terms of work and educating our children its now time to stop and think what we want, as being late 50's who the hell knows how much longer we have got to be fit and healthy and enjoy life. We have been back only a few times in the past 20 years but after talking to friends and family we are under no illusions that the grass is greener on the other side, we just love the idea of being so close to Europe and being able to go to London for the weekend or Ireland or worse case scenario Wales .... Perth is a beautiful city but oh so boring and I hate hate hate the long dry summers with a passion. Just a few questions - is it better to sell all your possessions here (for buttons on Gumtree) or try and take stuff with you, while we don't want to take big pieces like wardrobes and beds, over the years we have accumulated lots of nice one off pieces .. can anyone recommend a reasonable moving company for Perth to Manchester. What do you do with a life time of documents ? I am frantically scanning photos and other important documents that we may at some stage need - looking around at 20 years of "stuff" in a 5 x 3 house its a daunting idea to try and find a home for things or sell when we have bought a 60sm city flat - I love the idea of finally living light Sell or keep house in Perth - I hate the idea of renting out our family home but selling seems so final and Perth prices are dismal at the moment ? This is a huge move for us and we need to make good decisions as money may be tight depending on the sale of the house ? Any thoughts appreciated We moved back to the UK in our late 40's after 5 years in Perth for similar reasons. We took a lifetime of 'stuff' with us to Perth as cost wasn't relevant (company paid) but coming back we had to do it on a budget. I literally worked out the cost of shipping per cubic metre and then measured our furniture to decide if it was worth it - things like sofas, beds, wardrobes etc weren't (but our stuff was 'retail park' quality and most of it 10 years old plus), smaller items were - kitchen equipment, electronics, clothing, ornaments etc. and of course all the personal stuff. We knew the property we were moving back to so somethings simply weren't going to 'fit' - size, shape, style so they went too. We actually found we got unbelievably good prices for the stuff we sold secondhand on Gumtree - we put a leather sofa on 10 years old and scratched to bits by our cat, if it had been up to me I wouldn't have even advertised it, my husband put it on for $100 and I was actually embarrassed - sold no problem, the guy said he had been going to negotiate but he was already getting a bargain That's just one example, we were amazing at how much people were prepared to pay. If you don't want to take big stuff then maybe look at a 'Move cube' - settle on a size and then prioritise what's important to take and see how much space is left for 'nice to have's' - we took a similar approach with a 20ft container and it worked well. Generally speaking I'd say renting out a large family home is far more stress than it is worth but that fact you say 'it seems so final' makes me think maybe in your case, especially with the economic challenges in Perth it is worth holding on for 1-2 years. Perhaps treat your relocation to the UK as 'temporary' - maybe don't ship anything much, leave the house furnished and put personal things in storage (furnished you you rent out to new migrants or on Stayz/Airbnb where you would get a higher income and on the whole less problems - although you would need someone to manage it for you, clean between guests etc.) If you decide the UK is definitely the right place to be you can put the house on the market and then once a sale is agreed go back, finalise your affairs and ship what you want to the UK (by which time you'll probably have a better idea of what you want/need anyway). The 'lifetinme' of documents really depends on what you are talking about - there are some basics you need, passports, birth/marriage certificates, NHS card, house deeds etc. Tax related documents (e.g. EOY tax statements (e.g. P60, P11D in the UK, can't remember Aussie equivalent), tax returns, company accounts (if relevant), receipts for tax deductions you should keep the last 7 years of. Bank statements, credit card bills etc. if not online then I'd keep 12 months of, utility bills etc. I keep 3 months of. Switch everything you can to online billing and that way you probably need to ship very little. I started the scanning of photos, transfering videos to DVD's etc. but in the end with so much to do it became a lost cause and the sentimental stuff got shipped & I'm quite sentimental I have to say my mam died last year and when doing the difficult job of clearing her house finding things like love letters between her and my dad from when she was 16, the announcement of my birth from the newspaper and so on meant so much so I am glad when they emigrated to South Africa (& back!) these things hadn't been discarded. Link to comment Share on other sites More sharing options...
flag of convenience Posted September 13, 2016 Share Posted September 13, 2016 Quote - You don't say whether the move is going to be permanent or temporary. If it's permanent, are you aware that you'll forfeit the right to the Australian aged pension? Assuming you worked in the UK before you left, you'll be able to get a part British pension but even the full pension is less than the Aussie one. You'll be able to collect your superannuation but if you take it as a lump sum, the British government will take a slice in tax. If you convert it to a pension, you'll have to declare it on your British tax return and it will be taxed as normal income. In regards to the above, I thought Australia / England have sharing arrangement and you can claim Aussie pension in UK (as you can claim UK pension in Australia - when did that change?) Also the superannuation and conversion - I didn't think UK did tax returns or is it slightly different when you're on pension and then you're required to do one? Out of interest where did you go for information on these type of details and advice? Much appreciated. 2001 from memory the agreement was abolished. Link to comment Share on other sites More sharing options...
suesmalls Posted September 13, 2016 Share Posted September 13, 2016 Everyone's situation is different and financial advice / guidance from professionals is certainly warranted (if you've got a lot to loose). The Perth housing market probably won't be great in a few years either, if current forecasts are anything to go by. That said in any market the right house will also have a good buyer. Perth market is not like sales in Sydney & Melbourne and rents have dropped considerably - which is great for renters in Perth. If you need to money to live on and make the move I guess putting your house on the market is a necessity - if it doesn't sell then I guess you won't be wondering "what if". You can always take it off the market or not accept the prices you're being offered. I've learnt something today as I didn't know my superannuation (which I can't stand by the way) is going to get taxed in UK. That's hit me and more investigation on how to set that up is needed. Below is from ATO regarding capital gains tax (CGT) on houses; you can rent for 6 years without incurring CGT while living overseas. Under the capital gains tax (CGT) rules, if you: use your vacated home to produce income, you can choose to treat that home as your main residence for a period of up to six years do not use your vacated home to produce income, you can choose to treat it as your main residence for an unlimited period after you cease living in it. If you choose to treat that home as your main residence, you cannot nominate any other dwelling as your main residence during your period of absence even if you actually live in that other dwelling. There is one exception – the maximum six-month period you can qualify for the exemption on two homes when you are moving from one main residence to another. Link to comment Share on other sites More sharing options...
newjez Posted September 13, 2016 Share Posted September 13, 2016 I wish you the best of luck with your new adventure! I'd say definitely rent out the house rather than sell - why sell in a bad market? Make sure you get a depreciation report first - you won't get much on an older house but any tax deduction is better than none, because you will have to pay Australian tax on the rent (and you'll get no tax-free threshold if you're a non-resident). Also consider if you're renting it out, whether to leave some of the furniture or appliances for the tenants? I don't know what it's like in Perth but in Sydney, if you could provide a washing machine/dryer/fridge you could charge a bit more rent. If you're going to be practically giving the stuff away anyway, you might as well leave it in the house in that case. However, do remember that advertising on Gumtree is free so you can "test the market" with higher prices. We sold some of our stuff on Gumtree but I listed things for reasonable prices not bargain basement. I also sold some of the newer stuff on eBay and some of the auctions got bid up to high prices (our cappucino maker got almost the same price we paid for it!). Saying that, I did start early so I wasn't in a rush to sell and didn't mind having to wait, I could always lower the price later if it didn't sell. You don't say whether the move is going to be permanent or temporary. If it's permanent, are you aware that you'll forfeit the right to the Australian aged pension? Assuming you worked in the UK before you left, you'll be able to get a part British pension but even the full pension is less than the Aussie one. You'll be able to collect your superannuation but if you take it as a lump sum, the British government will take a slice in tax. If you convert it to a pension, you'll have to declare it on your British tax return and it will be taxed as normal income. We made the move a bit later than you, but we realised we couldn't afford to live in the UK on such a reduced retirement income, so we couldn't afford to make it a permanent move. So it is something to research before you go. Perth doesn't have a great rental market ATM either sadly. Plus, you get a lot of pounds for your dollar, and Perth hasn't dropped that much, less than 10%, and houses are selling if prices reasonably. Link to comment Share on other sites More sharing options...
Marisawright Posted September 13, 2016 Share Posted September 13, 2016 I've learnt something today as I didn't know my superannuation (which I can't stand by the way) is going to get taxed in UK. That's hit me and more investigation on how to set that up is needed. If you can't stand your super, move it to another company before you go! Don't forget to write to them and cancel all the insurances, because they won't be valid once you're non-resident anyway. That will reduce your fees by a lot. There's nothing you can really do to reduce the tax on super. I've had conflicting advice on how much the tax would be if you took the lump sum, so I would suggest checking that out: I was originally told it could be 20% of the total but I've since been told that's wrong and it would be a lot less than that. Link to comment Share on other sites More sharing options...
Marisawright Posted September 13, 2016 Share Posted September 13, 2016 I thought Australia / England have sharing arrangement and you can claim Aussie pension in UK (as you can claim UK pension in Australia - when did that change?) It changed in 2001 when the agreement lapsed. You can claim the UK pension from Australia but it's frozen forever at the rate you get when you claim (unless you go back to the UK). You can't claim the Australian pension from the UK at all. The only way to move to the UK and get your Aussie pension is to stay in Australia until you get to pension age, then you can leave the day after. Alternatively you can move to the UK now, but you'll have to come back and spend two full years living in Australia when you reach pension age - I don't think that's a serious contender because of the cost to move for two years and then move back again. There is another snag: to receive the full Australian pension in Australia, you only need to have worked for 10 years. To get it overseas, you need to have worked for 35 years. If you've worked fewer years then you'll get pro rata. You can get a pension forecast from the British government so you know what your British entitlement would be. Once you're resident in the UK, you can apply to have your Australian work record recognised towards a British pension, BUT only up to 2001 when the agreement expired - years of work from 2001 to 2016 don't count. Remember though, that the Australian pension is means-tested so if you've got a decent super balance, you probably won't get it anyway, and the whole thing might be irrelevant! The reason it worried me was that all the calculators tell us our superannuation would run out before we're 80 if we stayed in the UK, and with only a part UK pension, how would we live? Of course some would say we could always return to Australia when the money ran low - but I didn't want to set myself for having to move countries again at 70. http://www.ozexpats.com/content/australian-pension-overseas https://www.humanservices.gov.au/customer/enablers/age-pension-while-travelling-outside-australia Link to comment Share on other sites More sharing options...
suesmalls Posted September 13, 2016 Share Posted September 13, 2016 Thanks appreciate the information - yes my super would probably rule me out of getting pension anyway - can't seem to cut a break in Australia with Superannuation - can't use it until I'm 60, then they keep changing the rulings on it and the latest discussions are just driving me so angry (back dating etc). The whole purpose of super was to reduce pensions, now they want to reduce how much you can put in and now they've double the tax from 15% to 30% at the higher end - this doesn't affect the rich (like most ordinary people think). The rich have accountants and trusts/funds etc so they will always get around the loop holes. It affects the hard working people who got decent jobs and aren't in the rich category and aren't living off welfare. Anyway don't get me on that soap box - hence my comment about not liking superannuation. Based on your information I'm just missing out on both sides and going to be snookered either way - unfortunately my husband doesn't care too much for details and family is the driver - regardless of taxes, pensions etc. I can understand I guess, his heart is pulling him for so many years that we're just going to have to live with whatever the details are. But going to get professional advice on the set up of super for while we're away and what happens when I reach whatever age the government set the preservation age (given they keep changing it). I haven't looked at your links yet but interested in the forecast and transferring Australian work history - been working full time since 1986 - and part time before that - so will look into this. Much appreciated. Link to comment Share on other sites More sharing options...
Marisawright Posted September 13, 2016 Share Posted September 13, 2016 If you're affected by the limits on how much you can pay in, then you're rich by my standards! I was reading an article on the weekend that finally explained it properly and even the lowered limit is far more than most people would ever need. By the way, I hope you don't have a self-managed super fund, if you do then you'll have to wind it up and transfer the balance to an industry fund before you go. As a non-resident you'd pay tax on a SMSF at over 30%. Here's the link for the pension forecast: https://www.gov.uk/check-state-pension Link to comment Share on other sites More sharing options...
NickyNook Posted September 13, 2016 Share Posted September 13, 2016 Thanks appreciate the information - yes my super would probably rule me out of getting pension anyway - can't seem to cut a break in Australia with Superannuation - can't use it until I'm 60, then they keep changing the rulings on it and the latest discussions are just driving me so angry (back dating etc). The whole purpose of super was to reduce pensions, now they want to reduce how much you can put in and now they've double the tax from 15% to 30% at the higher end - this doesn't affect the rich (like most ordinary people think). The rich have accountants and trusts/funds etc so they will always get around the loop holes. It affects the hard working people who got decent jobs and aren't in the rich category and aren't living off welfare.Anyway don't get me on that soap box - hence my comment about not liking superannuation. I think super is the best thing ever. We have a lovely investment amount that cost us nothing (because it was all provided by our employers) that generates an income we can live off (hopefully) in perpetuity. If there should be anything left when we die it will pass to our descendants. If you have a super balance large enough to rule you out of receiving the age pension, then you're very fortunate indeed and it's not a situation to be complaining about :rolleyes:. Link to comment Share on other sites More sharing options...
Keith and Linda Posted September 13, 2016 Share Posted September 13, 2016 I think super is the best thing ever. We have a lovely investment amount that cost us nothing (because it was all provided by our employers) that generates an income we can live off (hopefully) in perpetuity. If there should be anything left when we die it will pass to our descendants. If you have a super balance large enough to rule you out of receiving the age pension, then you're very fortunate indeed and it's not a situation to be complaining about :rolleyes:. Yep! in agreement with you there, must be the best savings account for the working man/woman in the world. I have not found a downside in it yet. Link to comment Share on other sites More sharing options...
Beaty Posted September 13, 2016 Share Posted September 13, 2016 Best of luck with your move back to the UK. B Link to comment Share on other sites More sharing options...
suesmalls Posted September 13, 2016 Share Posted September 13, 2016 My employer doesn't pay my super I do and without going into actual details / amounts and not knowing limits before pension cuts in or doesn't cut it; I think the way super is going the thresholds are only going to be reduced - that's a given, you can see that now. But that wasn't the purpose of the questions, just became a side note. Link to comment Share on other sites More sharing options...
suesmalls Posted September 13, 2016 Share Posted September 13, 2016 Best of luck with your move back to the UK. B Thank you Link to comment Share on other sites More sharing options...
flag of convenience Posted September 13, 2016 Share Posted September 13, 2016 The Australian super is the biggest rort going that favours the well off baby boomers and will certainly have to change. The nation can ill afford it and the goings on around it. Of course little sets in cement in Australia. Nothing new there. Laws change with regularity. The OP will note the changes since they touched down in Australia in 1996. Plenty more on the horizon. Just a question of getting them through parliament. Just wait until your house will be taken into consideration towards aged care. Link to comment Share on other sites More sharing options...
flag of convenience Posted September 13, 2016 Share Posted September 13, 2016 It changed in 2001 when the agreement lapsed. You can claim the UK pension from Australia but it's frozen forever at the rate you get when you claim (unless you go back to the UK). You can't claim the Australian pension from the UK at all. The only way to move to the UK and get your Aussie pension is to stay in Australia until you get to pension age, then you can leave the day after. Alternatively you can move to the UK now, but you'll have to come back and spend two full years living in Australia when you reach pension age - I don't think that's a serious contender because of the cost to move for two years and then move back again. There is another snag: to receive the full Australian pension in Australia, you only need to have worked for 10 years. To get it overseas, you need to have worked for 35 years. If you've worked fewer years then you'll get pro rata. You can get a pension forecast from the British government so you know what your British entitlement would be. Once you're resident in the UK, you can apply to have your Australian work record recognised towards a British pension, BUT only up to 2001 when the agreement expired - years of work from 2001 to 2016 don't count. Remember though, that the Australian pension is means-tested so if you've got a decent super balance, you probably won't get it anyway, and the whole thing might be irrelevant! The reason it worried me was that all the calculators tell us our superannuation would run out before we're 80 if we stayed in the UK, and with only a part UK pension, how would we live? Of course some would say we could always return to Australia when the money ran low - but I didn't want to set myself for having to move countries again at 70. http://www.ozexpats.com/content/australian-pension-overseas https://www.humanservices.gov.au/customer/enablers/age-pension-while-travelling-outside-australia Worked in Australia? Are you sure about that? I have always ben under the impression it is time spent (working age in Australia) and not years worked. Link to comment Share on other sites More sharing options...
adventure time Posted September 13, 2016 Author Share Posted September 13, 2016 thanks for all the advice and help - havent really thought much about super and pensions being here for so long I am sure lots has changed in the UK as we have only been back for a few quick family holidays. I think its good advice to get rid of all the big furniture and just taking smaller sentimental items. We have been lucky enough to purchase a city centre apartment in Manchester last year which is currently being rented and paying for itself ... but its tiny and we have to be quite selective with what we take back .. Not sure about the return to Perth - never say never but definitely will do a minimum of 5 years in the UK and if we find the adventure wanes we might come back hard to say at this stage and depends where the kids decide to settle Suemalls, best of luck with the move back I will go through these replies in detail and make a few notes for the accountant - my husband has the idea of turning up at the dole office within a week of returning just to see what happens ? I should imagine they will laugh in his face and send him on his way after 20 years but he keeps muttering I am a British citizen .... hheheheheheheheheheh I will also make a list of items and try to organise a quote - thanks again for all the imput Link to comment Share on other sites More sharing options...
Patphillips47 Posted September 13, 2016 Share Posted September 13, 2016 Worked in Australia? Are you sure about that? I have always ben under the impression it is time spent (working age in Australia) and not years worked. Its time spent in Australia between the age of 16 and retirement that counts towards Centrelink pensions With a UK pension they would top up the pension based on the reciprocal agreement pre 2001 but I think you would need to declare are super pensions which would eliminate them topping the UK pension up You can pay back 'stamps' as they used to call them which could give you a full UK pension at retirement but its quite costly Link to comment Share on other sites More sharing options...
Patphillips47 Posted September 13, 2016 Share Posted September 13, 2016 They will most certainly put him through hoops you would need to go through the habitual residency test before claiming benefits -you have the right of abode being citizens Residency is a different ball game ! Link to comment Share on other sites More sharing options...
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