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Australian State Pension

Australian State Pension

Old Mar 24th 2018, 1:19 pm
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Default Australian State Pension

Has anyone any experience......


I'm years away, might not get there, but I'm interested in understanding.


As a citizen of Australia do you qualify for a full state pension even if you have only lived in Australia for six or eight years.


Ten years required as a resident, with no citizenship..


From want I can gather you need to be a citizen of Australia for ten years to qualify for a full state pension whether lived there or not; the residency requirements do not have any effect on Australian citizens as long as the ten year citizenship has been held by an individual. Which seems quite lapse.


Just seems odd spend five years there, get your citizenship, p*ss off, come back at 65, and get a full state pension as long as your world widely assets are valued at less than $180k..


https://www.expatfocus.com/expatriat...ralia-retiring


The age pension is paid out at the age of 65 and in order to qualify you must have been a resident of Australia or a citizen of the country for a minimum of 10 years.

Last edited by sign; Mar 24th 2018 at 1:38 pm.
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Old Mar 24th 2018, 2:27 pm
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Default Re: Australian State Pension

Originally Posted by sign View Post
Has anyone any experience......


I'm years away, might not get there, but I'm interested in understanding.


As a citizen of Australia do you qualify for a full state pension even if you have only lived in Australia for six or eight years.


Ten years required as a resident, with no citizenship..


From want I can gather you need to be a citizen of Australia for ten years to qualify for a full state pension whether lived there or not; the residency requirements do not have any effect on Australian citizens as long as the ten year citizenship has been held by an individual. Which seems quite lapse.


Just seems odd spend five years there, get your citizenship, p*ss off, come back at 65, and get a full state pension as long as your world widely assets are valued at less than $180k..


https://www.expatfocus.com/expatriat...ralia-retiring


The age pension is paid out at the age of 65 and in order to qualify you must have been a resident of Australia or a citizen of the country for a minimum of 10 years.
Bit more complex than that.

https://www.humanservices.gov.au/ind...nk/age-pension
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Old Mar 24th 2018, 4:12 pm
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Default Re: Australian State Pension

The Oz pension isn't like the UK, it is more like unemployment benefit and is means tested. There is no gauruntee you would qualify for it regardless of citizenship, even if a born Australian.

Personally, I think it will be fazed out in the near future on the basis people have super.
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Old Mar 25th 2018, 4:52 am
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Default Re: Australian State Pension

Age pension is peanuts. Better build your own.
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Old Mar 25th 2018, 5:07 am
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Default Re: Australian State Pension

The state pension in the UK and the federal pension in Australia are basically part of the welfare system. Neither will provide enough for a comfortable and dignified retirement and building your own pension is a must
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Old Mar 25th 2018, 8:25 am
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Default Re: Australian State Pension

Build your own and spend it elsewhere in a country that will ensure it goes further. Under the Aged Pension one is restricted by ever more rules and regs with regards to time out of Australia and so on.


Just remember building own pension to spread the risk.
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