Guest Bet Posted October 11, 2005 Share Posted October 11, 2005 Pensions in Auz I am just after some general information, moving to Auz in Feb 2006, I am lead to believe that as I have contributed to the British State Pension for over 12 years, when I come to retirement age I will have to claim a small amount (yeah a very small amount from the British Government" when i reach retirement age. I am sure that I read somewhere that you have to be contributing to the equivalent to the State Pension in Auz for atleast 10 years before I would be able to qualify for any benefits at retirement age, don't worry once I get there both my partner and I will get a pension set up asap, as got some company scheme may wish to transfer. Can anyone advise. Bet Link to comment Share on other sites More sharing options...
Guest ABCDiamond Posted November 11, 2005 Share Posted November 11, 2005 A useful Centrelink page is: 'Have you recently moved to Australia to settle? http://www.centrelink.gov.au/internet/internet.nsf/publications/rm001.htm Main Payments available for Migrants Age Pension - Available after 10 years Austudy - Available after 2 years Bereavement Allowance - Available after 2 years Carer Payment - Available after 2 years Disability Support Pension - Available after 10 years Parenting Payment - Available after 2 years Family Payments - Available immediately Newstart Allowance - Available after 2 years Sickness Allowance - Available after 2 years Special Benefit - (limited circumstances) Widow Allowance - Available after 2 years Youth Allowance - Available after 2 years Note: There can be exceptions. Link to comment Share on other sites More sharing options...
Guest dwaldron Posted November 12, 2005 Share Posted November 12, 2005 you have to be contributing to the equivalent to the State Pension in Auz for atleast 10 years before I would be able to qualify for any benefits at retirement age, Please do remember that it is compulsory for your employer to contribute to a superannuation fund (aka a pension) to the tune of 9% so you will have a nest egg building up whilst you work. As far as I know, the state pension is a little different to the UK National Insurance scheme in that it is not contributions based, so once that ten years has passed, you will receive the full pension, whereas in the UK after ten years you would be eligible for only a portion of the full pension, with that portion increasing with each year's contribution. Don't forget you can transfer your UK company/freestanding pension to Australia - see http://www.pentran.com.au - but you must do it fairly quickly after moving to enjoy the tax breaks, I think it is six months. Link to comment Share on other sites More sharing options...
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