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KennyF

Oz expats, the new pension rules, May 2014

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KennyF

I have today received an update from Australian Centrelink.

Here it is......

*-------------------------------------------------------

Australian Working Life Residence changes

From 1 July 2014, pensioners who choose to retire or travel overseas for extended periods, will generally need to have spent 35 years of their working life in Australia to be eligible to receive their full rate of Australian pension. This is an increase from the current requirement to have 25 years of Australian working life residence.

Australian pensioners outside Australia on 1 July 2014 will continue to receive their pension under the rules which applied when they left Australia, until they return and stay in Australia for 26 weeks or more.

What you need to know.....

Your payment will not be affected by this change if you:
are receiving Age Pension, Disability Support Pension, Wife Pension or Widows B Pension, and are outside Australia on 1 July 2014, and remain outside Australia and continue to be paid.

However, if you return to Australia after 1 July 2014 and stay for longer than 26 weeks, on your next departure the rate of payment you are entitled to receive will be calculated under the new rules.

*--------------------------------------------------------------

 

KonC

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Hy H

Hey Kenny, do you have link to full article on this. I`m in the middle of looking into my plans about retirement.

 

 Pm if not posting here plz.

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KennyF

Hey Kenny, do you have link to full article on this. I`m in the middle of looking into my plans about retirement.

 

 Pm if not posting here plz.

 

It's not from an article, it's from a letter emailed to me by Centrelink.

 

KonC

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Hy H

It's not from an article, it's from a letter emailed to me by Centrelink.

 

KonC

 

Ok I see.

 

 So you think all this might be available to read on their website? I just have not comen across it anywhere that I looked at.

 

Might have to dig little deeper.

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govoner

So if you started work at 20 and went to the Phils when you were aged 55 and stayed there for 10 years to age 65 you would be eligible for full pension.

I thought you had to live in Auss for at least a couple of years when you are nearing retirement ( ie around age 63) to establish residency

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KennyF

 

 

I thought you had to live in Auss for at least a couple of years when you are nearing retirement ( ie around age 63) to establish residency

 

You're right, you must be a resident and physically in residence (not just "for tax purposes") in Australia for two years before applying or two years after applying.

FOR YOUR PENSION TO BE PORTABLE.

 

So, you automatically get the pension at 65, but you can't get it overseas unless you do the 2 year thing.

 

Note that during that 2 years, you can leave Oz for up to 13 weeks, however, your pension is stopped while you are away.

Note also that Oz immigration is linked to Centrelink.

You get an email from Centrelink a day or so after leaving Oz asking you your plans.

 

KonC

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Hy H

 

 

So, you automatically get the pension at 65, but you can't get it overseas unless you do the 2 year thing.

 

This is the part I do not get. 

 

If a person works a taxable income for 40 years, is eligible for a pension at 65. 

At 63 decides to go on extended holiday for lengthier than13 weeks is not eligible anymore for pension?

There must be a way around this, I mean wtf they trying to prove with this. You work all your life for this entitlement?

Was this change from Gillard Rudd years?

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KennyF

 

 

This is the part I do not get

 

I think maybe I didn't make it clear.

 

You automatically get the OA pension at 65, but it's not portable unless you lived in Oz 2 years before or 2 years after claiming.

 

KonC

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For Real

There opens a market for people smuggling...citizens going to PNG on leaky boats to recieve passports made in Thailand.

 

Sent from my GT-S7275R using Tapatalk

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Mikala
There opens a market for people smuggling...citizens going to PNG on leaky boats

 

Maybe an exodus of old-timers from Australia on leaky boats petitioning for asylum in Malaysia and Indonesia? 

 

Looks like a raw deal to me. What possible reason could they have for implementing such a requirement?

:snap:

Edited by Mikala

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SkyMan

So, lots of Ozzies bolting before the end of June?

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Art

This 35 year rule will affect migrants and boat people not native born.

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Hy H

How will this affect Ossies living abroad currently and not returning to Oz before or after their retirement age? 

 

Say you`re 60 now left Oz on holiday and currently temporary living on tourist visa in the Philippines and planning to marry and live here permanently?

 

Would be a slap on face if they cut you out of your pension.  Could not afford to live there, could not afford to live here, your financial future could be pretty much fcuked.

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I <3 Cebu

Hey Kenny, do you have link to full article on this. I`m in the middle of looking into my plans about retirement.

 

 Pm if not posting here plz.

http://www.humanservices.gov.au/customer/enablers/outside-australia#a4

 

Theres also stuff about being in a country that has a social security agreement with Australia & i don't see PH on the list

http://www.humanservices.gov.au/customer/enablers/centrelink/international-social-security-agreements/countries-that-have-agreements-with-australia

 

Has this caused any problems for you guys ?

Edited by I <3 Cebu

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Jim Sibbick

This 35 year rule will affect migrants and boat people not native born.

Good!

 

I personally don't have to worry. I have already racked up 36 years since my tax file number was issued and 40 years since I started working as a paper boy.

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