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Guest skeggie

can i get my australian pension if i go back to uk to live

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Guest skeggie

hi - i've been in australia since 78 and now my daughter has gone back to live in uk - i am thinking i would like to go back when i retire - still a few years away. but I just cant work out all the pension rules, does amyone know if i will be able to get my aust pension if i'm living in uk or can i get a uk pension. help:arghh:

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Guest PierrePierpont

The Social Security Reciprocal Agreement between Australia and the UK was terminated in 2001 because Australia was annoyed that the UK refused to annually uprate British pensions for Brits living in Australia.

 

http://www.centrelink.gov.au/internet/internet.nsf/international/pension_agreements.htm

 

Accordingly, you must be resident in Australia to apply for an Australian pension which is means tested for assets and income. You may be means tested out of any Australian pension. You need to have at least 10 years of Australian permanent residency to be eligible to receive Australian Social Security payments.

 

When you reach retirement age, you may be entitled to a UK pension according to how many years you contributed into the UK National Insurance Fund. You need 30 years of contributions in order to receive the maximum UK state pension. If you have less than 30 years, your pension amount will be pro-rated.

 

http://www.direct.gov.uk/en/Pensionsandretirementplanning/StatePension/DG_4017919

 

If you do live in Australia and receive a UK state pension it will be frozen and not receive annual upratings. You will receive annual upratings if you live in the UK, the EU and around a total of 40 countries in the world but not in Commonwealth countries generally.

 

Join the fight to help overcome this discrimination based on country of residence at:

 

http://www.britishpensions.org.au

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I received a tax briefing from my employer (one of the big-4 accounting firms) when I arrived and in broad terms was told that I could reclaim all my Superannuation contributions if I moved back to the UK but would then probably also be taxed at around 50% on them.

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