Governement pension

[Guest nastasia]

Hello, anybody knows more about government pensions? Conditions etc?

[Quoll]

Hello, anybody knows more about government pensions? Conditions etc?

They aren't pensions like the UK ones which are contribution based. In Australia they are Centrelink benefits, means tested and the expectation these days is that fewer people will be depending on them as they prepare for retirement with their own Superannuation schemes. 10 years residence is required to be eligible and if you plan on leaving the country after you've applied for it then it's reduced pro rata for the percentage of 35 years you have spent in the country before applying. If you've got any decent assets or other income they're irrelevant.

[Skani]

The government information is here including requirements for age, residency, income test and assets test:

 

https://www.humanservices.gov.au/customer/services/centrelink/age-pension

[starlight7]

They most definitely do look at all your assets when you apply for Australian pensions- they include everything except your own home ( including what car you drive!) They also deduct any entitlements from overseas so if you get a British pension you will lose some or all of your Australian one.

[Quoll]

They most definitely do look at all your assets when you apply for Australian pensions- they include everything except your own home ( including what car you drive!) They also deduct any entitlements from overseas so if you get a British pension you will lose some or all of your Australian one.

 

Absolutely- I realize that what I meant was the opposite - i.e. The pensions are irrelevant if you have assets and income! Mea culpa, must proofread without internal construct! Sorry that was badly expressed!