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samlab

UK State Pension

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Posted (edited)

Please can someone point me in the right direction? 

We lived & worked in the UK until our early 40s. How do we transfer our UK state pension payments into our Superfund? 

Please note- We aren’t at pension age yet. 

Edited by samlab


State: Qld
Stream: 457 Visa - ENS 186 Transition
Nomination & Visa Lodged: 22nd Feb 2018
Nomination Granted: 5th December 2018
IMMI Status: Finalised 12th December 2018 🇦🇺🇬🇧
Applied Citizenship 17th December 2019
Still waiting for test date

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Just now, samlab said:

 We lived & worked in the UK until our early 40s. How do we transfer our UK state pension payments into our Superfund? 
 

You can't.   Your Super fund is not a government thing,.   The government insists that you have it, but they don't have anything to do with it otherwise.  It's just a pot of money that you put aside while you're working, then you use it to pay yourself a pension when you retire (and if you pay yourself too much, the money will run out before you do). 

Make sure the UK state pensions dept knows your Australian address.  When you reach pension age, they'll send you a letter to notify you that you're eligible. You can choose to have the pension paid into your Australian bank account or, if you still have one, into a UK account.  

It would be worth getting a pension forecast to see how much you'll get, and whether it's worth paying some extra contributions into it (because that will increase your final pension).  

https://www.gov.uk/international-pension-centre

 

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Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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@Marisawright Massive thank you. That’s really helpful and has saved me loads of time. 



State: Qld
Stream: 457 Visa - ENS 186 Transition
Nomination & Visa Lodged: 22nd Feb 2018
Nomination Granted: 5th December 2018
IMMI Status: Finalised 12th December 2018 🇦🇺🇬🇧
Applied Citizenship 17th December 2019
Still waiting for test date

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7 hours ago, samlab said:

@Marisawright Massive thank you. That’s really helpful and has saved me loads of time. 

If you left in your early 40's it is unlikely you have reached the qualification for a full state pension (the full amount now is £172.50 a week and you need 35 full years to get it all and a minimum of 10 years to get anything)

So if you know how many years you paid a "full stamp" you can work out your entitlement roughly by the following formula

£172.50 / 35 * years of "full stamp"

SO lets assume you paid "full stamp" for 19 years from the age of 21 until 40 then your rough entitlement is £93 per week 

Best to get your state pension prediction from the UK Gov website

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Posted (edited)
24 minutes ago, Ausvisitor said:

If you left in your early 40's it is unlikely you have reached the qualification for a full state pension

I'm sure the OP wouldn't assume he would.  Provided he's got the minimum 10 years, he'll get something, and he can pay extra contributions if he wants to top it up. 

I must say, I left the UK in my thirties, and I still found the UK pension worth claiming.  When you get to retirement, every little helps!

Edited by Marisawright
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Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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Also remember, before you can claim the Australian Aged Pension, if you have worked for any time in UK, you have to apply to Dept of Works and Pensions to see if you are entitled to a Brit Pension before Centrelink will even consider accepting an application from you.

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......Just trying to be helpful so don't shoot me down if my personal views do not coincide with yours! :animal-dog:

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