UK Frozen Aged Pension

[Guest The Ropey HOFF]

Me and the wife already have full pension rights from the uk, do we still have to pay into the Australian version, out of our wages, or will we be excempt?

[fish.01]

Me and the wife already have full pension rights from the uk, do we still have to pay into the Australian version, out of our wages, or will we be excempt?

 

You don't pay the employer does...you don't want to be exempt :biggrin:

[Guest The Ropey HOFF]

You don't pay the employer does...you don't want to be exempt :biggrin:

 

 

I thought you could only get state pension from one country, either the uk, or Australia, or can you get both?

[Johndoe]

I thought you could only get state pension from one country, either the uk, or Australia, or can you get both?

 

Centrelink takes the Uk pension into consideration and if the Uk pension is lower, (the ex UK resident may not have paid enough into the UK for full UK pension), gives you a "top up". In your situation you would likely receive no state pension because your superann (converted to a weekly pension) would put you above the assets/income level

Edited June 3, 2012 by Johndoe

[Guest The Ropey HOFF]

Nothing in the uk is worth anything anywhere at present mate, so I think centrelink will be doing a lot of topping up for a lot of people.

 

Cheers for the reply.

[Mike@Bonbeach]

Think you have to have been resident in Au for 10 yrs before Centrelink do any "topping up" of State pensions.

Mike

[Johndoe]

Think you have to have been resident in Au for 10 yrs before Centrelink do any "topping up" of State pensions.

Mike

 

Correct.

[fizzybangs]

I find it very confusing.

From my understanding of the Centrelink website, you can't get any Australian (government) pension at all no matter when you move to the UK, as the UK is no longer an "agreement" country for social security purposes.

 

If you are already in receipt of aged pension in Australia it is 'portable' to UK. To claim the aged pension you must proved 'residency' in Oz. If you leave a month before your 65th Birthday you can't claim so won't get anything. If you come back to claim when you are 65 you will need to prove residency and stay a further 2 years to make it portable.

 

You can get both pensions. They will be adjusted. If you move back to UK you may be able to claim UK allowances too and your pension will be indexed immediately as there is a credit for that year and will be indexed like other aged pensions thereafter. However, yoou may not get much if yoou haven't kept up your stamps whilst abroad (can do so by paying reduced rate). If you are entitled to Oz pension at same time, Australia will take into account your income from UK and will reduce the Oz pension accordingly when UK one rises. Also works that way other way around.

 

As for super - it can be accessed under certain circumastances eg severe financial hardship and several other reasons or if over a certain age and have given up work permanently. The UK is setting up a similar scheme to ours.

[fish.01]

I thought you could only get state pension from one country, either the uk, or Australia, or can you get both?

 

Super isn't the Australian state pension. It is a mandatory private pension paid by the employer. Not sure if it has any affect or is affected by your UK state pension.