Jules471 Posted June 22, 2020 Share Posted June 22, 2020 Hi there, I am seriously considering moving back to UK in next few years. I have a teenager and want to wait here until he is in his 20’s. He will be able to live with his father then. Other than my son, I have no relatives here. I have a few close friends too, but my Ageing parents, siblings etc all live in a small town in UK. I am able to access my super, and will have a job related pension in UK by the time I go back. Is there somewhere here on PIO that has a bit if an ‘idiots’ guide on moving back? Any help in relation to the order of things, or anything at all will gratefully received. TIA 1 Quote Link to comment Share on other sites More sharing options...
RoundInCircles Posted June 22, 2020 Share Posted June 22, 2020 2 hours ago, Jules471 said: Hi there, I am seriously considering moving back to UK in next few years. I have a teenager and want to wait here until he is in his 20’s. He will be able to live with his father then. Other than my son, I have no relatives here. I have a few close friends too, but my Ageing parents, siblings etc all live in a small town in UK. I am able to access my super, and will have a job related pension in UK by the time I go back. Is there somewhere here on PIO that has a bit if an ‘idiots’ guide on moving back? Any help in relation to the order of things, or anything at all will gratefully received. TIA Welcome Jules471 I myself have started the process of "going home"...it was to be next month, however, that ain't gonna happen now! This site has some amazing members who have helped me with so much information and you'll be sure to hear from some of them very soon. Good luck with everything...ask away...you'll be sure to get the answers you need 1 Quote Link to comment Share on other sites More sharing options...
Marisawright Posted June 23, 2020 Share Posted June 23, 2020 20 hours ago, Jules471 said: Hi there, I am seriously considering moving back to UK in next few years. I have a teenager and want to wait here until he is in his 20’s. He will be able to live with his father then. Other than my son, I have no relatives here. I have a few close friends too, but my Ageing parents, siblings etc all live in a small town in UK. I am able to access my super, and will have a job related pension in UK by the time I go back. Is there somewhere here on PIO that has a bit if an ‘idiots’ guide on moving back? Any help in relation to the order of things, or anything at all will gratefully received. TIA Just get on the plane and go! Seriously, it's easier than moving to Australia because you're going to a country you're familiar with, which is half the battle. You don't need to notify anyone or get any special permissions (assuming the Covid emergency is over by that time). I'm not aware of an idiot's guide but here are a few pointers. If you don't need to ship a containerload of stuff, look into the Movecube (link below). There's only one company that offers the Movecube, otherwise you'll have to ship individual boxes and that's expensive. When deciding what to take and what to leave, don't underestimate how much things cost. If it's years since you bought household goods, you might get a shock. I regretted getting rid of my favourite old pots when I got to the UK and discovered the cost to replace them with the same quality! Money - You're right, there will be no problem accessing your super from the UK. Just be careful if you want to take a lump sum. If you take the lump sum before you leave Australia and put it in the bank, then it's just money in the bank and you can do whatever you want with it. If you wait till you've arrived in the UK and take a lump sum, the British taxman will take a huge chunk (about a third of it) in tax. If you leave Australia before you reach pensionable age, you won't be able to claim the Australian government pension - but as you know, that's means-tested so you might not get it for a while anyway. If you were working in Australia up till the year 2000, try to dig out evidence of that, because you can use it to claim towards a UK state pension. I know you'll have your super and your UK pension but every little top-up helps! Still on the subject of money, the biggest annoyance will be that the UK is ruled by credit ratings, and you won't have one. If you're planning to get a job it will be easier, but if you're retiring there, it's a challenge. Because we couldn't provide pay slips or an employment contract, we had to pay six months' rent upfront to get a lease. Although I was able to "open" a bank account the day I arrived, it was almost a month before we got debit cards etc. As for a credit card, overdraft or mortgage - forget it. The funny thing was that we had hundreds of thousands of pounds in the bank after selling our home, but that cut no ice at all! So don't close your Australian bank account or cut up the credit card, you'll need them for several months after you arrive. 3 Quote Link to comment Share on other sites More sharing options...
Jules471 Posted June 23, 2020 Author Share Posted June 23, 2020 Wow Marisawright, that was amazing, JUST what I needed to know 🥰 1 Quote Link to comment Share on other sites More sharing options...
Jules471 Posted June 23, 2020 Author Share Posted June 23, 2020 Did you have the link to move cube, I just get move from China???? Quote Link to comment Share on other sites More sharing options...
Marisawright Posted June 23, 2020 Share Posted June 23, 2020 38 minutes ago, Jules471 said: Did you have the link to move cube, I just get move from China???? https://www.sevenseasworldwide.com/moving/movecubes Quote Link to comment Share on other sites More sharing options...
Marisawright Posted June 23, 2020 Share Posted June 23, 2020 One more thing - if you're still working, it would be worth looking into back-paying NI contributions to top up your UK state pension. Some people question whether it's worth it, but it doesn't cost much and the way I look at it, even a few extra pounds a week may be welcome if you live to a grand old age and your super runs out. I see it as my safety net! Quote Link to comment Share on other sites More sharing options...
tea4too Posted June 23, 2020 Share Posted June 23, 2020 2 hours ago, Marisawright said: One more thing - if you're still working, it would be worth looking into back-paying NI contributions to top up your UK state pension. Some people question whether it's worth it, but it doesn't cost much and the way I look at it, even a few extra pounds a week may be welcome if you live to a grand old age and your super runs out. I see it as my safety net! It's definitely worth considering however, depending how many years you are from state pension age, there is no guarantee that current rules will apply by the time you come to claim it. Women born in the 1950s expected to receive a state pension when they turned 60 but, despite in many cases paying more than 40 years NI, discovered they have to wait a further six years. Retirement pensions are a huge portion of government expenditure and various think tanks have looked at ways to balance the increasing dilemma of more people living longer while the working age population decreases. What that means in the longer term is anybody's guess, but something else to factor into any decisions maybe. T x 1 Quote Link to comment Share on other sites More sharing options...
Fisher1 Posted June 23, 2020 Share Posted June 23, 2020 I’m sure you know that UK stat pensions are frozen when you move to Australia, so if there’s any chance at all that you might change your mind and move back to Oz, it wont’t be worth paying extra into your UK state pension. Otherwise, I’d investigate the possibility. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.