How to get the Australian Pension while Living Overseas
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- Опубліковано 16 лис 2024
- In this video we look at can you collect an Australian based pension and then take that with you to live overseas in somewhere like Southeast Asia where your dollar goes much further.
We also look at what you have to do to claim the Australian age pension if you moved overseas before you were eligible to claim the pension.
There are three main points to consider when determining how your Australian government pension will be affected once you decide to travel overseas:
1 - If you leave the country for less than 6 weeks.
2 - If you leave the country for more than 6 weeks but less than 26 weeks.
3 - If you leave Australia for more than 26 weeks.
To learn more about how you can move, invest, and do business in Asia:
offshoreinasia...
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DISCLAIMER: This video is not professional advice of any kind. The purpose of this video is for research and entertainment only. It is your responsibility to do your own research and verify the accuracy and timeliness of any information that we provide, and to obtain the services of a professional if necessary. If you wish to obtain professional advice from us, you need to first formally engage us to provide services.
#australia
I'm planning to retire to SE asia soon and just had a consultation with Aaron after watching his videos over recent weeks. It was really worthwhile if anyone's considering it. We covered a bunch of stuff around my Australian assets and the tax implications based on which country I end up a tax resident in, and what the triggers are for each. And visas for various asian countries etc.
Thanks Aaron, great insights
Thanks gaz for your kind words. It was a pleasure talking with you and we wish you all the best.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@ЕленаФирсова-ц6м That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@NevzetBenedict My advisor is *MARGARET MOLLI ALVEY*
You can look her up online
@@ЕленаФирсова-ц6м The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
What pisses me off is that politicians don't have to go through all this bs.... They don't have to wait until they are 67 and also get all the perks available for the rest of their lives, it's disgraceful! You work hard all your life than want to go on a long-term trip to experience the things you weren't able to do when you were working apart from the usual two weeks holiday and then get penalised for it, again, unless you're a politician.
leave australia its a nazi land
I knew about the two years rule before the pension becomes portable but it is a shit rule since you cant go anywhere until your almost 70 and just about to kick the bucket. Australian govt is a stingy bunch of grubs
You can thank Little Johnny Howard.
The mean and sneaky grub.
This was pushed through while he was distracting everyone with gun buybacks , GST and throwing kiddies off boats
If you return to live for 2 years in Australia to be eligible for pension portability, I was advised you can still travel for
@@pwagzzz yeah, I knew that you could still go somewhere. Just not for any decent period of time. Six weeks is still stingy in my book.
Stop complaining.., it's a taxpayer funded system.., not your super that your employer paid into, those receiving the government pension should be grateful.
@@jaisingh5801 and who are the taxpayers? If we had a competent government we would have a sovereign wealth fund like Norway.
In the 1990s I sold pensions on the strength that the tax free lump sum would pay off most if not all of the mortgage and leave the investor with a pension for life. Most were over a 40 year term plus, I was not alone.
The approach of selling pensions with the promise that a tax-free lump sum would pay off mortgages and provide a lifelong pension was common in the 1990s. However, many factors can affect the outcome, including changes in the housing market and interest rates. It's crucial for investors to seek personalized advice and consider diversified financial strategies to ensure long-term financial stability.
it's vital for investors to seek personalized advice and adopt diversified financial strategies. Working with a knowledgeable financial advisor is crucial for achieving long-term financial stability and freedom
@@hasede-lg9hj I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about three years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
I am in Thailand and receive approximately $24,600 a year pension a single man , no idea as to why I had to lose rental supplement and other supplementary payments ,travel,prescriptions,utilities after all we still encounter these when over seas. We paid our taxes in Australia for over 40 to 50 years therefore we are entitled to every bit of the pension regardless of where we chose to retire. If we ALL moved back to Australia it would cost the government more and also put a huge strain on health and rental accommodation
Don't like the rules then stop claiming ,, you CHOSE to put yourself in that situation and the Australian people do not wish to support your lifestyle. You are an entitled style person , time to grow up
I would be content with $24600 a year. Hope you have a great retirement. You are very lucky to get that.
You are more than welcome to move to Russia if you prefer their system
@@tilapiadave3234 where i can apply to i wanna move to russia i'm 65
A pensioner living in Australia spent the money here circulating money among Australian businesses
Advice for younger viewers: Work hard, save money, invest wisely, especially superannuation, then you can retire on you own terms, and not be watching these videos and complaining when you get to be 70 years old, broke, and homeless.
Exactly what I did. I have worked since I came to Perth Australia in 1973, at the age of 16. Super & savings a big part of planning my future. Got married & started our family, 2 children. Bought our first 5/2 house in 1990. We both worked. Hubby worked full-time & I casual while maintaining a home. 5 kids, 5 grandchildren later, we're self sufficient @ 69 yrs. We do get a part pension as we both still work 😂 part-time. But don't reliy on it as our Superannuation fund helps us live a comfortable normal lifestyle. We never sold our home as we've watched the world change drastically for the worst. It'll always be here for our children. Don't get me wrong, my children are ages 44 - 29 & have worked & bought their own homes. But if ever they hit a hurdle, they would have a home to come back to 😊 People tell us to sell our home as it's worth a hell of a lot more now. $45,000 in 1990 for a 1/4 acre & 5/2 home worth over $700,000 now, but I see it as an investment in my family ❤ Our door is always open to anyone in need
Yep, i retired at 51 by moving overseas. I'm not working until i'm nearly dead. Invested my whole working life, sold everything and am now actually living life. Not just existing to work and struggle. I'll get my super when i need it after 60 and am set. Never rely on anyone else
worked very hard for 40 years . wife divorce's you take 1/2 bye bye
Who is complaining? Are you complaining about people who are asking questions in relation to their situation? Many people I know never had the chance to buy a house as the market was just too expensive, or invest as they weren't business savvy, and the income from their jobs only covered so much, and they worked hard, many are now in their late 50's or early 60's and are living in tents. Most don't complain.
thanks captain obvious. I'll keep doing what was doing.
We’ve just come back after three months in Europe with our son who lives there. After 6 weeks the pension started decreasing, and in our last pay before our return, we were each down about $50. I have been working in Australia for 22 years, my husband has worked for more than 35 years. I received a letter from Centrelink telling me about living outside of Australia and the 35 year ratio, my husband did not. I wasn’t sure why they sent it because we have no intention of living elsewhere. Having said that, as we were coming through immigration, there was a message in our inbox saying “welcome back” 😂 just shows they know everything about everything.
Australia screwed every European migrants and refugees. Australians simply are rubber.
As a foreigner you are lucky we give you anything
@@testicool013 I didn’t sit on my ass for 22 years my friend. I worked as a highly qualified nurse. You’re lucky there are immigrants who work and contribute to the economy so that people like you can be on the dole.
@@testicool013 LOL, everybody is a foreigner in Australia. The British came as invaders, killed the aboriginals, and took their land. I came as a refugee from the communist block because that was what the Americans wanted. And you "F" as Off! Now, one day, the Chinese will come with nuclear weapons and will be no more "F"-ing. 🥰🥰🥰 Btw, my grandpa served in the US army.
They only know what you tell them. You told "them" (the govt) you were back by passing through immigration. LOL
Should give them wherever they live. Sometimes, the system totally impacts vulnerable people.
Even they live inside Australia they’re living without own house and they can’t buy a house. That’s crazy system. I’d like to ask and inform one of my questions about vulnerable people and/or pensioners eligible to buy a house
Just free them do not control them like a bird in the cage
Free visa free life style and can live abroad wherever they like
That’s it
ok.
But they can live overseas.
@@graerindley6312 can live but they cut their payment how they can live longer???
Australians are financial prisoners of the state. There really is no freedom. Even Thailand land of smiles is now super controlling and starting to tax foreigners
The other option is to forget about Australian pensions altogether and just sell up and fund your overseas lifestyle yourself. If you have a Thai wife you can build or purchase a home somewhere nice like Hua Hin and still have a motza in the bank and live like a King. Of course this will only work if you already own a home in Australia and sell it at current exorbitant prices. $40,000 Aud makes you a Thai millionaire in rural areas like Kalasin. All you need worry about then is renewing your Thai marriage visa every 12 months.
Kalasin rocks 😁🦖 Have a home and farm in Banna waiting for me, the 2 year portability rule is going to suck so much 😡
Excellent post - thanks
But why would someone want to forego 600,000 Baht per annum in receiving the Australian aged pension?
@@graerindley6312not to mention the "perks" that go along with the pension.
there is no pensions in australia it is a nazi country , i don't know how people migrate there just to live a lie
I came back to Australia after being overseas for 2 years during the pandemic. I was pension age and applied upon my return. I was told that i have to stay in Australia for 2 years or possibly lose the pension but then was later told i could leave at any time, so that was confusing. One thing to be careful about. I had a part time job during the 2 years i was back, as expected, tax was taken out each pay period and my pension payments were reduced based on what i was earning. The catch was, the pension was added to the income and tax was based on the total, so the tax taken out each pay period was not enough. I ended up with a massive tax bill because of this.
There's no 'catch'. Anyone living for a reasonable period of time in Australia would, or should, know that any government payments, such as the Aged Pension and others, like "Jobseeker" payments are subject to Income Tax, but in their own aren't taxed. If one receives these government payments and chooses to work, that can take a person above the threshold where tax becomes payable. Many probably aren't aware either, that if you receive the Australian Aged Pension and move overseas to live, the Tax Free Threshold, which is applicable to all Australian Tax Residents, currently a little over $18k, is removed and ALL Income is taxable.
@@colinb8512 so if I'm overseas, have no assets and no job or any other income, the pension, being the only government payment, is taxed at 32.5% ? Please be clear about this
@@davannaleah I think you lose the general exemption (ie yes, you have to pay 32.5% tax on all your income) if/when you cease to be an Australian resident for tax purposes. Exactly how/when/if that loss of tax residency happens is not clear. I've read that if you still have property in Australia, bank and or super accounts, still lodge a tax return, return to Australia periodically ... all of these things contribute to your still being considered a tax resident of Australia. I don't think there's a crystal clear picture on this, so one should err on the side of retaining connections in/to Australia, as a precautionary move. Or talk to a (tax) specialist in this area.
@@colinb8512 Misleading. For non-residents aged 60 and over, no tax is payable on pension income if the pension income is from a taxed Australian super fund (most funds)
We met a couple who live in Vietnam permanently. Every 180 days they have to come back into Australia, even for a day. They stay with friends or family for a couple of weeks then they leave. To me, the cost of the flight is something you have to really consider if you want to do that.
How does that work? They would lose their pension after 7 weeks absence from Australia (unless they receive it overseas, but Oz has no agreement with Vietnam).
You can't "check-in" every 6 months and pick up your accumulated pension from your bank.
@@spotvideo4413 I’m just repeating what they said. We have just returned from Croatia after being away for nearly three months. For the first three fortnights the pension was normal. Thereafter it was reduced progressively. Our last pension was nearly $50 less. Today, our pension was normal. As we passed through immigration, we received a message saying “welcome back.” Also, while we were away, a letter from Centrelink was delivered explaining what would happen if I decided to live outside of Australia and how the pension would be calculated. I have only been a citizen for 21 years. So my pension would be at a ratio of 21/35. My husband did not get that letter.
You get your money from your OZ Bank account over seas... Either through ATM or you can arrange an app to send it to yourself by way of Western Union or other apps like that from your OZ bank account...
I live in Thailand permanently and do not go back and do not lose any pension.
@@SteveWard-d9v Correct.
I was born in Australia in 1946 and left in 2000 to live in Morocco. I am unable to get the Aged Pension, despite paying taxes for 30+ years..I am too ill to travel back to Australia. All my UK and American friends of Aged Pension age, receive their pensions..disgusting..I have to work to generate income, as ill as I am... I have no family...
When you read the local papers and watch TV,there’s a lot of information on how much HELP there is out there for the Australian Citizens.However,when you start the ball rolling in formulating access to a particular issue,then you realise that it is not as easy as A B C. Lots of IFS and BUTS come into play.
I am sorry to hear of your circumstances due to the fact that you haven’t got family support.
So sorry mate to hear you are having a hard time 😢, Australia is awful.
Disgrace how retirees are being ripped off in Australia 😢
@@lotus8576people work two jobs to meet their basic needs! Home prices are joke, there is no future none
My ex wife has not worked a day in her life and is living like a queen in south America on a full Australian pension Australia is too good.
In my opinion and in every other OECD country that I am aware of , if you have lived and worked for decades and paid taxes all that time, then at the age of preservation, you are entitled to your pension. Where you decide to live after that point and how you choose to spend it is nobody’s business. Least of all the government. You earned that pension after years of paying into the system and how and where you choose to spend it is totally up to you.
Its complicated
But you gave a great general outline before people go down there personal rabbit hole
I believe you can help a lot people out
🙏
Thank you
Complicated? Which bit?
According to what you said, it means after we get age pension we don’t need to come back to Australia every 6 months. Is that right?
Mostly correct but quite good. You did not mention the assets and income requirement thresholds. The limit to get a full pension is $545,000 assets, which will reduce by 50 cents in the dollar, and the pension will stop at about $900,000. Some people do not qualify for the Australian Aged Pension as they overstepped the assets and income threshold of about 20% of people.
But if you have $900K and you are living in your own home you are free. If you make decision to live outside Australia add extra $600K-$800K if you sell your house and only from interest you can live without any problems in several places in the world. You can come back if you want. Freedom 😊
@@jaceksciezka3215 until interest rates go back to zero then you are spending your capital. Come back to what? You sold your property and when you come back you are most likely priced out of the market.
Does Centrelink know you have left the country by Sea ? Do the Ports Authority computers talk directly to Clink Computer like the Immigration at Airports do ?
Yes! If you go through customs, they know.
Thanks for the info...i have a question.....Im planning to retire in Vietnam when im 63 and live with my Vietnamese wife there.
I plant to stay there for about for and live on my super till im 67 and go back to apply for the old age pension...when i go back do i need to wait for 2 years to be eligible for the pension?...i have been in Australia for more that 45 years.
Hi Joe, best to book in a call so we can discuss your specific situation. Thanks
offshoreinasia.com/book-a-call/
@offshoreinasia that's ok I'm not ready to retire , fir one.. Second I can find the information free here in Australia
Thanks anyway
You will definitely get the pension but you might be required to stay in Australia for 2 years after being approved. But you need an expert to advise youre about exactly what your residency status is at the time that you are aged 67.
@@graerindley6312 "Might" ??? , how about MUST be in Australia for 2 years
you will get no shit if you go out of Australia to countries that have no security agreements with Australia , Australia is a third world country compared with Europe in retirement pension terms , face it you work for nothing
Thank you for this information, 1 Question, Do you pay income tax on your Pension payments?
Thailand generally won't tax you on income earned from outside of Thailand (i.e. your Australian pension). But this can depend on the visa you're on and if/when you bring foreign income into the Kingdom. However, you may still be subject to some Australian taxes - with the right tax structures this can be minimised. For tax advice specific to your situation we recommend booking a consult offshoreinasia.com/contact/
No ..but you cant work here with out a local who has to have 51% of your business.Guess you could buy BTC or start a online shopping ..if you are getting extra money say rent it comes off your pension..which can be a mess if the place is vacant and you have no rent
no tax on pension, but I have worked on and off over the years,
@@jakeoneill9302 If you have lived and worked in OZ all your life and no assets you should get the full pension
I dont get extra like rent assistance etc
No not at all
Hello. So, if I live OS (SE Asia) but return to Australia at age 65, live here for two years, get the pension at age 67, can I go straight back to Asia and keep the newly obtained pension?
Yes. If you lived in Australia from age 16-51, 35y. You don’t have to do 2y. Go there at 67 and return to Asia a few weeks later after approval
If you don’t have the 35 years in Australia yes you are correct sit out two years (probably on another pension) speculation.
@@charliedekadens3348 Fantastic.. Really appreciate your assistance.. FYI.. I'm 58 and lived/worked in Oz all my life! 👍👍👍👍👍👍👍👍🦘🦘
Is. that correct? If you worked in Australia from 16-51, then move to Thailand/Philippines, you only have to come back to Oz for long enough to get the pension, then head back to Asia again? Who does the 2 year wait apply to then?
Do you know if you return to Australia 12 months before your pension date is due, I understand you can do this and apply for the pension. Once approved you can then leave the country. I'm sure I've got this from services Australia. Any thoughts. I live in Thailand. Still a few years before pension age. Thanks.
Very good question as I would also like to know the truth.I may ring Services Australia head office in Tasmania.
@@oldmanJ Whatever advice/ruling centrelink gives you get it in black and white.
Whether it be paper or email.
I found email when dealing with Centrelink best because of the time/date stamp and person issuing
If they say no to whatever the question is and won't supply documents to back the ruling up the Centrelink rep will sometimes be erring on the side of caution.
Be as polite as possible, which can be hard with some of the staff. Stand your ground for documentry evidence.
Don't get into a "dispute" otherwise they can get nasty and delay your claim
i believe its 2 yrs out of the last 5 yrs
@@oldmanJ Tasmania ,, how many toes do they have?
Same as you.. @@tilapiadave3234
I actually got my pension cut off while in Thailand last year.
I was there for five weeks in total.
However it was two seperate trips.
This upset them for some reason and they cut me off.
They reinstated it as soon as I got back but they said “I had to talk to them before going”
@theboxofdogs And so you should have your pension cut when you are in another country.
If on Pension they want you to notify them if travelling overseas
@@johnthompson9440 Yeah I found that out. Cheers
@jeremyschipp a lot on things don’t makes sense when dealing with Centrelink . They want you to give them notification when leaving and how long ,it’s a courtesy if you don’t expect it to be cut off .
Aimed at robertbutler804
What happens with Medicare and private health fund.
If you're not living in Australia, you're not covered by Medicare as that's for Australian residents living in Australia. You won't pay the Medicare Levy either, which is part of any Taxes paid annually in Australia. Private Health Cover in Australia doesn't cover overseas medical expenses
@@colinb8512unless they changed the rules recently, you can claim it until your Medicare card expires after you leave.
I found out in 2010 after going to Asia for years, that my disability pension only went for 6 weeks, but there is a disability pension you can apply for that gives you permanent residency anywhere overseas.
They really suss you out but if you are eligible, which means they believe you are permanently disabled for at least 5 years.
This is too complicated. I came to Australia when I was 39 years old, I’m 53 now. I guess the best way for me is to prepare for my retirement in the Philippines and don’t come back. You can’t survive in Australia for just $1000 every fortnight. I feel sorry for the elderly here. After working so hard all your life, they will only give you a max of $25k a year. What a joke!
But there are very few countries in the world that have such a generous pension.
Complicated? Get a 10 year old to explain it FFS
@@keekwai2 Sad that you're such a nasty pasty!
If you worked so hard all your life, did you also spend hard, and now expecting a jackpot in your old age? Plan ahead young folks!
@@johngreydanus2033 Or did you work your backside off ,, get divorced twice and had EVERYTHING stolen from you through the Family Law court system :)
Very informative. Quick question, I'm currently in Thailand but spent 2 yrs 5 months back in Oz during covid. Do I have to still do the 2 yrs when I come back when i'm 67 in 2026 ? Thanks !
If you are stuck due to covid you are exempt…they would not let you in at the time, correct?
A mate had your situation and they wave it.
@@charliedekadens3348 I came back to Australia just before COVID feb 2020 then lockdown and couldn't leave the country for 2 yrs and 5 months, so does that make me exempt for another 2 yrs when I go back? Thanks for your reply !
@@jupiterflambay4284 Yes if you want to claim your pension.
This is gold information..thankyou
Thanks, glad we can help
I'm 60 worked in australia for 44 years and live overseas now, do i need to do the 2 years before leaving australia ...after i receive my pension..sounds a bit odd already have done 44 years in Oz.?!!!
What country? And you still have to wait another 7 years to be eligible for pension. :D
All these comments are correct.
Thankyou everyone.
I have a question ?
I a person isn't on a 67 old age pension ...
but is over the 35 year Australian citizens tax payers requirements rule ( as you discussed an Australian born person over the age of 51 ) & they are on a Australian government Disability support pension ..
are the moving overseas permanently deductions accessed the same as the old age pension scheme. .
The benefit of living abroad would obviously be a great benefit for a person that requires ongoing medical treatments to assist them with their disabilities...& Does they government deducts medical allowances when living abroad from Australia
i did this in 2000 for a year i only received the basic dsp. but back then cut off was 20 years not 35 like now i had to pay my own medical bills.
So, there is no money for pensioners, but for the military, no problems?
@@juanpinpol1865 There's also no limit the amount of carbon emissions and environmental damage the government is willing to do in the name of their ideologies, but every single one of us meeds to make sure that we reduce our carbon footprints. In reality, the only carbon they really want to eliminate, is us.
The soveriegn individual book in the background - excellent book that!
You forgot to mention those who are on the disability pension. They are only allowed 28 days per annum out of the country or they will lose their disability pension... even if travelling for health purposes. ... ie: much cheaper medical procedures in Thailand than the outrageous costs in Australia. There can be exceptions but they require you to jump through many flaming hoops of bureaucracy while also undergoing a disability pensioner review .. which is the same as applying for the disability pension all over again and pretty much like trying to find hen's teeth.
Totally sucks and screams discrimination.
You can stay paid for 28 days, otherwise you can stay for a maximum of three months and you can be paid for 28 days. If you stay longer than three months, you lose your pension. If you return before three months, it starts again from the day you return.
Sorry your scam doesn't work ,,
Sir how about disability pension can that be transfer here in the Philippines
We haven't looked into that yet. If you want us to do some research, get in touch with us via offshoreinasia.com
I want to know also, can I live in Bali on a disability support payment?@@offshoreinasia
You need to apply for unlimited portability, which means going through all the dsp reviews etc and you need to convince the gov doctor that you are so disabled that you have no chance of working even for a few hours.
noooooooo
MY favourite is Bali, beautiful island, friendly people and it's close to QLD
A pensioner in Australia on full benefits PLUS rent assistance , carers allowance, PBS scheme, bulk billing , free transport, optical & dental scheme, electricity rebates , prescription discounts etc etc etc…..AND eventually go into Govt funded nursing home is a big cost to the budget. I’m sure the bean counters would prefer they simply go away to a foreign country where NONE of those extra benefits are paid AND relieve a Reduced rate of Pension . It would easily halve the cost & after living overseas I’ve noticed most of them die there.
Had the same assumption until a public servant informed me that all that activity is IN Australia; the money is circulating back into the Oz economy. Whereby payments overseas are lost to another country forever.
@@AustraliansRetiringOversea-p2j however….the few Age pensioners that do live overseas and spend their money is dwarfed by what Australia pays out in foreign aid donations etc. Also , on average 10 million working Aussie travel overseas every year & likely spend $10k on average . That’s over $100 BILLION going out of the country. That would cover nearly 5 million pensioners living OS…..& it’s no where near that many , barley 200,000.
@@dancooper5741 Could not agree more. I live in a country that receives Aust Aid by the bucket load. Donor aid has become the drug of developing countries.
This rule came about some years ago because the immigrants living in Australia were going back home and taking their pensions with them. So Australians who genuinely wanted to travel for longer than six weeks were penalised.
But isn't that their good right?
Aus gov saves money if pensioners live over seas. As the Goveetmeant won’t have energy or rent asidement. Medical etc
After working and paying tax`s in Australia for over 35 years I reckon it is my bloody right to have the pension no matter where I live and also keep the supplementary benefits , which only goes in to the coffers to help pay for the over paid leeches in parliament.
Wrong
@@stephenfarish2148 The Australian government wants the pension to be spent back into the Australian economy, not overseas 🙂
Very useful information and thank you.
Just want to ask question regarding to my own situation.
I worked full time from age 19 years old to last year 2023 when I turned 55 years old then I decided to moved to lived in Thailand Mar 2024 as a expat with Visa Non-O.
I also have both unit rented out & bank term deposit earning interests yearly and I have been paying tax every year through a regular tax accountant and also I still have superannuation of large amount in Australia system and I do return to Australia once a year to visit families, GP doctor to check my health etc.
And it look like I might be living in Thailand until I am 67 years old so;
Q1. WILL I BE GETTING FULL PAY PENSION WHEN I TURN 67 YEARS OLD?
Refer to 5:36 you have not become a non-resident for tax purposes. I take it you still pay Medicare and vote? Just my opinion.
@@larkhill2119
Yes I still pay tax every 3 months in advance up to yearly tax refund due to because of my rental income & term deposit with bank yearly.
I still have to vote & have Medicare to go see doctor for medical check.
Sorry, so I will be getting full pension when I turn 68 years old right?
@@airchanthaboury9005not without an Aussie address for starters.
Thanks Air, the best way for us to give advice is to book in a consult call. We have a discounted service available for pension related queries: calendly.com/quintrell/offshore-in-asia-30-minute-consultation-pensioners
What about a disability pension are there exceptions,?
Sorry. You're too disabled to travel.
Prior to the early 2000s an Australian could live overseas indefinitely on a disability pension and the last I heard they are still grandfathered in with it, I think at least until they set foot in Australia again, some also won cases at some tribunal to be able to still continue their disability payments even after returning, but it was stopped for any new applicants past a certain date.
@@Male666chauvinist it was in the newspaper at the time about a certain case.
@@Male666chauvinistif you can prove your disability is severe enough to leave you with almost no work capacity u can apply for unlimited portability which allows u to get the pension overseas.
i am 59 i come to Australia from 1995 (when i was 29 year old ) had casual jobs but start having permanent job from 2001 , try to retired at 60 an move back to my country taking all my super to live until 67 years old , i will rent my house and 1 unit when i be away those year it will became taxable , means when i get 67 year old will still count my tax resident in Australia or living income in Australia ever i been overseas from 60 years old to 67 so 7 years because my rental income count for tax resident in Australia. means from 1995 to 2032 , I can get full pension ? 37 years in the country tax resident in Autralia means i can get full pension when i am overseas ?
Hi how about if you move to another country to lived forever but im in old age pension in australia i've been living in australia since 1986 can i still get my old age pension in some other country?, can you give me more info please?, thank you...
One point thats often overlooked is that Centerlink advised me that Australian citizenship was completely irrelevant and that only residency was considered for aged pension. I left Australia age 55 to live in South America but I had lived in Australia from jan 1982 continuously as an Australian Citizen there and paid taxes 32 years and still have all my family there and returned there when 65 y old (was eligible age in 2016) thinking that i could return every 6 months for 2 years to get pension as they had stated on their website at the time (2015). They flatly refused to pay any pension on the grounds that i applied for residency in a South American country in 2011 . Now they have completely changed their website and they told me by phone that in fact you have to be a permanent resident and stay there and only short holidays abroad are allowed to maintain pension. Ironically I am surrounded by 100s USA, german, French ect expats getting aged pension.
That sounds like a complex situation, perhaps go ahead and book a free discovery call and we'll see if there is anything we can do :)
I'm 53 years old and have had one year overseas. I am currently on Disability Support Pension. Looking at travelling and living in South East Asia, can I still receive full Pension and understand will loose the supplements and get base rate.
Very informative, thank you very much.
I lived and paid into the Japanese pention system for about 18 years in Japan and have heard I will get about ¥83,000 per month or around $830 Austrian dollars a month. How can I get the Australian pention? I don't really want the Japanese pention when it is quite a lot less then the Australian pention.
Send your Japanese pension to me ,, thank you very much :)
Can you please clarify this point ? In order to get the full aged pension overseas, you need to satisfy two criteria: one is you have been a tax payer for over 35 years, the other is the overseas country you move to has the bilateral pension agreement with Australia?
Q1. Yes. Q2. No, you can get it anywhere but there are benefits to living in a country (eg. Japan, India, SK) with reciprocal agreements, like the 2 year rule is not applied. That's my understanding.
@@shadmo8629 thanks for your reply. What’s two year’s rule?
@@chrish9155 You must be living in Australia for 2 years around your pension application before it becomes portable IF you don't have 35 years as a resident. Do your own research. I'm no expert.
Are you saying that if you have been overseas for extended period (in our case 23 years) and return to Australia (68 & 70 years old couple) for the obligatory 2 years before leaving again. We will receive our pension during those two years? I have not seen this written anywhere. I was under the impression you had to "Wait" for two years before receiving our pensions.
You can get the pension right away but have to remain in Australia for 2 years or else it'll be stopped.
After the 2 years you can then leave Australia permanently if you want and you'll keep getting the pension.
This is why these agents are neccessary. No one LISTENS.
@@Craigaus Knowing Centrelink, I sincerely doubt this would actually be the case...shifting goalposts!
Depends on what country you are living in now. If they have a social security system agreement, you can apply from your current country without going to Australia. As far as I know, this 2 years obligatory stay in Australia is only when you plan to move back permanently to Australia, during these 2 years (you will get your pension if after assessment you are eligible), you can leave Australia for medical reasons. But if you go to Australia, to arrange a pension (because your current country), doesn't have any agreement with Australia, IF you are eligible after assessment, you will get your pension and you can leave the country anytime you want then your pension will be overseas rate after 6 weeks.
I was born in Australia and left with my parents for Italy when I was 10 years old, I still have the Australian passport. I worked for 24 years here in Italy. If I go to Australia for 2 years can I claim for the Australian pension? I know there is the agreement with Italy
You are saying come back to Australia at 67, apply and start receiving, and then stay for 2 years. Say you leave for 4 week holiday, how will they know you are coming back or not, or should you tell them, or are you cut off for 4 weeks. I was under the impression that you had to actually be resident in Australia for 2 years before applying. That is from age 65 to 67. Could you clarify?
When you leave your passport will be flagged.
GEEZE ,,, you need to be INSIDE Australia for 2 years ,, fairly simple ... most return at age 65 ,, stay TWO YEARS , apply , get approval then leave
Self and wife both over 67. Both lived permanently in Australia entire life. Both receiving aged pension. So Do what countries will our pension transfer to for permanent residency and what will we receive after moving?
Hi Brad, best to book a consult for one-on-one advice: calendly.com/quintrell/offshore-in-asia-30-minute-consultation-pensioners
Best start here: www.dss.gov.au/about-the-department/international/international-social-security-agreements/current-international-social-security-agreements
Social security agreements..i think 27 counties, can move , live work in those, and still get an Oz aged pension, aside from means test if you have above the limit
Why should aged pensions drop if u relocate overseas, when u paid taxes all your life?
No good for me, I worked in Australia and paid tax for probably more than 30 years, did 2 years in the army as National serviceman from 1969-1971, then I went to work overseas in 1988 I bought two properties in QLD and rented one that I paid tax on the rent monthly and rates etc etc on both, paid my income tax yearly. I stopped working overseas in 2010 and married in Thailand same year. My Family including 3 children did not want to move to Australia so I have stayed in Thailand ever since, Govt then in 2010 told me I had to return to Australia for the two years etc etc which was not an option because of my family situation, so that was the end of that, so eventually over time I sold my two properties paid a lot of CGTax and now live on the proceeds? I’m now 75 years old. So getting the pension from the Australian Govt for people married and living overseas is a no no unless we return home for the two years.
You’re better off staying in Thailand if you no longer own property in Australia. The pension won’t even cover the rent mate
The Australian pension is designed to help Australian residents.
@@graerindley6312 : jamespaton2085 worked for over 30 years in Australia and was a resident, therefore paid taxes and fully entitled to as much as anyone else , you included.
Sounds like you did alright anyway, enjoy the time you have left.
@@1pairfatchopsticks its a shit hole countrytry now
Invaluable channel
❤ it !
Thanks for the information!
Our pleasure.
On the 2-year rule for portability for former residents, I assume that the 2-year period would be negated if one was to return to Australia 2 years PRIOR to claiming the Age Pension - say at age 65? During which time one could work, if they chose to.
The 2 year rule only applies to anyone who has successfully claimed Age Pension. However, the 2 year period begins on the day you return to Australia, not from the day you claim Age Pension.
Correct in that, one can return on or before their 65th birthday, apply for the pension 3 months prior to reaching 67 and the pension will be granted as of the 67th birthday. Them it becomes portable. If returning to Australia after the 65th birthday, after living overseas for a period of years, 2 full years has to be spent in Australia for the pension to become portable. In that 2 year period, I believe that a couple of overseas holidays are allowed as long as they're no longer than 6 weeks each time and Centrelink are notified.
I heard you cam do your 2 years within a 5year period before you are 67. Do if you return at 62 or 63 do 2 years become a resident. And can leave then return to claim the pension and it is portable. I stand to be corrected.
@@offthegriddownunderaustral8814 That's not correct, You have to be in Australia to apply for the Aged Pension. The two years to qualify for portability of the pension has to be served either immediately before reaching the aged pension age (currently 67), or immediately after you have been granted the pension.
@@colinb8512that makes sense thanks 🙏
@@colinb8512with an exception for those in bilateral agreement countries like NZ.
I just like to ask who and how anyone think a person can live in Australia with 25k a year??
Please explain!
It’s super sad! That we all know this but it’s happening!
I have full pension, and it's 31.5K / year, no problems, they paid other supplements lately, electricity, rego (QLD)
Dont live above your means. Live simply. Cook your own food. I do and and have $200 leftover each fortnight.
The key there is to own your home.
@@scottfree993 yes that’s definitely would help big time, if we don’t have to pay rent. Rents are so expensive these days.
Owning apartment it’s not end of problem Strata getting very high this days Council not cheap electricity water clothing keeping car and food 25000 a year = 480 for week .
Good luck.
So where do you think you can live in SE Asia on a paltry Aussie pension?
Most of SE Asia is doable except for Singapore.
Most countries ,, maybe one day you can travel and know for yourself ,,
Question that I would love answered… if I am currently a tax resident of Australia but live in the Philippines, have worked in Australia from 16-55 so the issue of 35 years is not an issue… do I have to come back to Australia to claim the pension for two years?
Yep, you may have a wife and kids that depend on your support in the Philippines, but for some reason the Australian government requires you to leave your home there and return to live in Australia for 2 years before they let you have your pension. This won't change until Australia signs a social security agreement with the Philippines, which should have been done 30 years ago. The subject of a social security agreement with the Philippines was last mentioned in parliament about 12 years ago and seems to have been forgotten about. Take a look at the list of countries that have a social security agreement with Australia and wonder at the tiny obscure countries on that list and why the Philippines is not on it.
@@Kwanglebeh How can you have a social security agreement with a country that isn't financially strong enough to honor it? The Philippines govt cant afford it.
@@graerindley6312 There's not many elderly Filipinos residing in Australia but there's plenty of Australian retirees living or planning retirement in the Philippines. The burden of providing an indexed pension payment (which in the Philippines is meagre) to a handfull of Pinoys in Australia would be tiny and easily funded with income from their SSRV visa program. There's bunch of tiny irrelevant and economically challenged countries that are for some obscure reasoning , on the list of 32 countries that have a SSA with AU.
@@Male666chauvinist Other Australians don't want to pay for your lifestyle choice ,, can you blame them for not wanting to just gift you their money?
@@tilapiadave3234 what do you mean, he paid his taxes. How a pensioner lives their life should have nothing to do with the government
Very informative, Thank you have opened a new door for me maybe? Question, I do have a pension just received it 4 months ago, I just turned 79 in very good health. I live on a sail boat what if I go sailing around different parts of the world and not live in country as a resident only tourist what impact will this have on my present pension?
Irelevant. If you have "been out of Australia" you have not been "resident" of Australia for that time.
Best talk to Centrelink as your case would need to be well presented and discussed 🙂
So as an Ap currently living in Australia and drawing my AP , been a tax payer for 40+ years I can say live in uk or Thailand and still get my pension ?? Payed into Australia bank account ??
That what he said, but Australia is the BEST.
Yes. I've been an Aussie since year dot (born here in 55 and worked all my life) ... I retired at the end of 2019, aged 65, travelled for a year and a half, came back in Dec 2021, got pension in June 22 when 66.5 years old, have spent 75% of my time in SE Asia since then. Lots of Aussies do it in Thailand and other places.
@@TheWanderingPensioner Serious question: Can you explain how you receive your Oz pension in SE Asia if none of the SE Asian countries are listed in the bilateral agreements? www.dss.gov.au/about-the-department/international/international-social-security-agreements/current-international-social-security-agreements
Very informative Thank you
If you haven't been living OS and apply for the Pension, is there still a 2 year waiting period before heading for the airport?
FO grub!
Hi there what if I was on a dissabilty pension for many years. Does anything change for me due to not paying tax for 35 year. I have lived here for 45 years continuously from the age of 22. I was born here but left when I was 10 and came back at 22. Cheers Bill
Hi Bill, you can get in touch here to discuss: offshoreinasia.com/contact/
how can i find how long have i been tax resident of Australia between the ages of 16 and 67? is there a web site? Where can i ask?
Check your passports, they have all the exit and entry dates, post them here and we can work it out for you!
You can apply online from immigration department (immi homeaffairs gov au) search for "Requesting travel records" they give you a complete list of every time you have entered and left australia since mid 1981.
WOW , you don't even know what country you have been in for 51 years ,,, AMAZING
You can apply online from immigration department (immi homeaffairs gov au) search for "Requesting travel records" they give you a complete list of every time you have entered and left australia since mid 1981.
You can apply online for free from Australian immigration department by Requesting travel records and they give you a complete list of every time you have entered and left australia since mid 1981
Great info mate, thank you, does this apply to politicians also?
Thanks very helpful
What if I am 67 and would like to move to India to retire on permanent base. Will I still be able to receive pension?
I lived on an Australian disability pension for 6 years, in the Philippines
How did U do it
@@ja-kl8rgit’s legal if you have portability
Hi, is it still true that a pension recipient still has to return every 6 months to save the pension being cut off? I have read about that. Thanks
Hi Britinoz, you will lose the supplements but the basic pension can still be claimed overseas without returning provided you meet the eligibility criteria. There can also be tax implications if you are no longer a resident of Australia.
@@offshoreinasia😊
In the 2 year rule example an Aussie returning to the country was used.
If I have been in the country for more than 2 years before applyin for the pension, would i be required to stay in oz for a further 2 years?
Yes. Need 2 years after grant before portability applies.
@@grahamjones6300Wrong. LISTEN to the vid slowwwwwwly.
@@grahamjones6300 NO , 2 years BEFORE is accepted
There seems to be a lot of confusion about whether one can do their 2 year stint from 65-67 in Oz, get the pension, then return overseas.
OR
If they return at 67 get the pension straight away then have to stay in Oz for 2 years
I’m hearing both stories
@@RodDavies-rx3ve No confusion whatsoever ,, 2 years 65-67 ,, apply and leave ,, that is FACT
Is it true that rather than come back and spend 2 years in Australia, you can spend the 2 years in the country's that there is an agreement with?
No.
Thanks Mate this very helpful 👍
Hello, I came back from oversees a few months after my 65th birthday, do I have to wait the full 2 years ?
YES
@johngreydanus2033 NO. LISTEN to the vid
Bob , we change the rules for you because your SPECIAL ,, just 20 minutes here mate and your good to go
Hey, I'm a follower of your channel, i find your content interesting and decided to make contact with you guy's to discuss options ect, But "$80 for phone cancellation" this wasn't the introduction I expected.
Hi Allan, we just don't have time to do free phone consultations. Often we need to do prep before the call takes place, and then provide follow-up answers for things that come up in the call that we can't answer right away. A 30 minute call is often more than 30 minutes work on our end. We like to think that we provide significantly more value to our clients than what they pay for a one-on-one consultation. Getting this stuff wrong can cost thousands, that's the truth. That all said, if you have a simple enquiry that doesn't need a 30/60 minute consult, feel free to email us here: offshoreinasia.com/contact/
Thanks for the info 👍
I am Australian citizen living in Thailand with my Thai wife. I retired at 56 and now 60. If l have to return to oz to 2 years at 67 , can l return to Thailand for a 2 week visit a couple of times during that period?
Hi Anthony, send us and email via the website and we'll see what we can do for you.
Go back for 2 years when you're 65. You can then apply at 67 with no waiting and leave immediately. 2 x 2 week visits should be OK.
@@metalguru5226thanks
Is that what you did?
@@Tony-eb5kh It's what I plan to do. Not pension age yet.
ONLY FOR CITIZENS OR RESIDENTS AS WELL?
The rule about having to come back and stay in Australia for two years in order to claim the pension….. can you leave for a 6 week or less holiday during this time ?
Short absences are generally fine.
Is that for Disability pension too?
No, the disability pension has different rules. We go over them here: ua-cam.com/video/RmmlXSvOom4/v-deo.html
I am overseas indefinitely and spoken to several Australians here and it seems nobody really knows, even after scoring through the Centrelink website, if you have no assets, super or any other income, do you have to pay tax on your pension? For now, my assumption is yes! I will have to retain 32.5% of all my pension payments and wait to find out next July when I do my tax return...
I presume that I still have to do that...?
Would it make a difference if i declare that i am not a resident for tax purposes?
Hi Davanna, the main factor is whether you are a resident of Australia for tax purposes or not. If you would like to discuss your situation with us, we have discounted consults available for pensioners here: calendly.com/quintrell/offshore-in-asia-30-minute-consultation-pensioners
Does include former Australian Territory of Papua's indigenous inhabitants.
Can you do one on DVA pensions
I am a Canadian/Australian citizen, now living in Canada. I just turned 67 and I'm on a Canadian pension. Just wondering how I go about applying for my Australian pension if I'm actually even eligible. I lived in Australia for 22 years and worked there for approximately 15 years. I no longer have my Tax File Number so not sure how I go about all this. Many thanks if you can help me with this.
Hi LaDee, it is possible to claim in two countries but generally each pension would be prorated and claimed as a part-pension. If you would like help to investigate this further you can do that here: offshoreinasia.com/book-a-call/
Interesting, I am similar situation, but I stayed in Australia. They made me fill in the Canadian paperwork before they would process my Australian pension. So now I get 2 payments monthly, about $90, from Canada, even though I left when I was 21 and had only worked 2 years maximum. The hardest part was to remember my Social Security number after 45 years but I did, HA.
This is great imformation
All your tax returns must be signed and submitted for at least the past 20 years. The ATO has the last say if your OAP is approved or not. It is up to them. They can coerce you to return to Aussie to complete this administrative task.
Its bad enought that ppl travel to Australia just to apply for the disability oension ... never having worked and paid the tax to earn it ;(
to make things easier there is a Centre Link international office they will give you the right details your normal centrelink branch gave me the wrong info twice seeing them in person
What about the disability pension
Hey Man. Love the clear cut. Bit of too much preamble but I'm needy..... What I want is up to date. Please reiterate this info every year as shit changes. I may get on DSP ( Disability) at 60. Want to go to Philippines to marry and live. Or just live there. I'll get a place in Korea if I have to! Or Japan. If that gets me passed in the rules....
the years you live here means no shit Australia does not have a pension system like Europeans in reality Australia does not have any pension it is a handout by the Australian government not a entitlement that has been funded by your work contributions period you are considered a slave as just they import slaves they got 18 century Westminster system of government
What if you have a DSP pension how does this apply to travel overseas?
You'll need a wheechair to get onto the plane.
What about the DSP?
We covered the DSP here: ua-cam.com/video/RmmlXSvOom4/v-deo.html
It's 4 weeks for Disability pension not 6 weeks? This is for NSW not sure about other states.
What about the disability pension is it the same rules?
We covered the DSP here: ua-cam.com/video/RmmlXSvOom4/v-deo.html
Hi l am 65 retired in Thailand. l have been told l have to return to Australia 2 years before l turn 67 or stay 2 years after. are there any exemptions to this I don't have the money to return and nowhere to stay in Australia anymore An advise please
Exemption is NO MONEY for you bludger
I have just turned 65 and plan to live in Thailand full time in two years time when I reach pension age (67). That’s the plan. But I want to know if my pension application would be impacted because I intend to stay in Thailand for 2 months and then back in Australia for 2 months consecutively over the next 2 years. I was told that I can do this and still be eligible for the age pension. I have lived and worked in Australia all my life. Does anyone know about this?
As Thailand is not listed, legally you will not receive the Oz pension in Thailand. www.dss.gov.au/about-the-department/international/international-social-security-agreements/current-international-social-security-agreements
Hi, im 61 years of age australian born and living off my super and bank savings at moment over in Philippines since 2022 as i couldnt afford to live in australia etc. My question is do i need to be living back in australia to get the pension, what i have read is that i need to be back in australia for 2 years prior to receiving the age pension, or is it 2 years after the age of 67 years ? so i dont loose the pension when i move back overseas ?? Any help or ideas please . thanks
- My question is do i need to be living back in australia to get the pension, ## NO
- what i have read is that i need to be back in australia for 2 years prior to receiving the age pension, ## YES
- or is it 2 years after the age of 67 years ? ##Depends when you will be claiming your pension. If claiming for 70 then you need to be in Oz when 68.
@@AustraliansRetiringOversea-p2j i been also told its 2 years after you apply and receive the age pension ?
@@darrynpickstone4621 Unless you return to Australia at 65, stay for 2 years, then apply at 67. Then you can leave Australia after you start getting the pension.
Thank ,good information n useful l
what if you are on and or been on a disablity pension for over 20 years plus
A friend was on that and when they visited a friend in Thailand it was stopped and reinstated on their return.
@@wagonweel4200Because its a glorified version of the dole. And most recipients are rorters.
How about DSP pension can you help me with this
Its in the pipeline.
Very interesting thank you
GREAT insights!
Thanks
Planning retirement in Srilanka