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State Pension

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Old Apr 1st 2013 | 9:50 am
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Default Re: State Pension

Originally Posted by Gill73
I know you pay into a superannuation fund as an employee but if you are an Australian Citizen or Permanent Resident, do you get a state pension at retirement age?

If there is a state pension, do you have to have paid taxes for a certain number of years in Australia to qualify?
As an aside, and possibly semantics, I thought I would mention that technically the employer pays into the super fund. It is not part of your salary and by law comes directly from the employers purse despite how some employers attempt to portray it as part of your salary.
 
Old Apr 1st 2013 | 8:54 pm
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Default Re: State Pension

I was talking to friend tonight, about time I lived in the uk in the 90s. Since i have dual citizenship, i needed at one time to go onto welfare. The time i only got a Giro of $40 lol, they don't believe me friend it was so low . I said i was receiving back here at the time $300 a fortnight prior to leaving , a huge difference. My Question is i wonder out of the two countries, in today's terms who's better of?. Today here you would receive about $530 to live on after rents paid, but Gross about $700 odd per fortnight. What do you get in the Uk roughly now days? is it per week still? rough estimate will do cheers.

Last edited by Strayalad; Apr 1st 2013 at 8:57 pm.
 
Old Apr 1st 2013 | 10:16 pm
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Default Re: State Pension

My Dad, who is 64, currently gets around £800 per month UK state pension which isn't means tested. From looking at the Australian Pensions Website, if your assests and other income where below the thresholds, you would get more than this. Would you agree?
 
Old Apr 1st 2013 | 10:25 pm
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Default Re: State Pension

.

Last edited by Strayalad; Apr 1st 2013 at 10:30 pm.
 
Old Apr 1st 2013 | 10:28 pm
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Default Re: State Pension

Hi Gill73 , if your single your allowed something like 180,000pound in assets, you would get less in pension if it was above this, but only if it was earning income from them. Interesting about $1,500 here a month for single, so sounds similar almost . I stuffed up the above response, tried to edit but got this message all the time sorry for DP. Does you dad have to pay rent out of his 800Pounds?.

Last edited by Strayalad; Apr 1st 2013 at 10:32 pm.
 
Old Apr 1st 2013 | 11:27 pm
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Default Re: State Pension

My parents are still paying off their mortgage - they have another 4 years of this - so both are still working and using their wages and pension payments to help repay their debt. It delays their plans for retirement, but at least once they have cleared their debt, they should be able to manage on their pensions payments.
 
Old Apr 2nd 2013 | 12:30 am
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Default Re: State Pension

Originally Posted by Gill73
My parents are still paying off their mortgage - they have another 4 years of this - so both are still working and using their wages and pension payments to help repay their debt. It delays their plans for retirement, but at least once they have cleared their debt, they should be able to manage on their pensions payments.
Hi Gill73, I think no matter what either country is not easy to live on it
 
Old Apr 2nd 2013 | 6:56 am
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Default Re: State Pension

Originally Posted by Gill73
My Dad, who is 64, currently gets around £800 per month UK state pension which isn't means tested. From looking at the Australian Pensions Website, if your assests and other income where below the thresholds, you would get more than this. Would you agree?
Thy wont get anything at all until thy have been resident for 10 years during which time they will get nothing at all
 
Old Apr 2nd 2013 | 10:16 pm
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Default Re: State Pension

Originally Posted by Gill73
My Dad, who is 64, currently gets around £800 per month UK state pension which isn't means tested. From looking at the Australian Pensions Website, if your assests and other income where below the thresholds, you would get more than this. Would you agree?
Something wrong here. State pension is £107.45 per week and men have to be at least 65 to claim.
https://www.gov.uk/state-pension
 
Old Apr 2nd 2013 | 10:59 pm
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Default Re: State Pension

Originally Posted by lesleys
Something wrong here. State pension is £107.45 per week and men have to be at least 65 to claim.
https://www.gov.uk/state-pension
Thats the max you get as the basic state pension. Additional state pension varies depending on your NI contributions etc

https://www.gov.uk/additional-state-pension/overview
 
Old Apr 2nd 2013 | 11:01 pm
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Default Re: State Pension

Originally Posted by northernbird
Thats the max you get as the basic state pension. Additional state pension varies depending on your NI contributions etc

https://www.gov.uk/additional-state-pension/overview
Yep. I know. But minimum age is still 65 for men.
 
Old Apr 2nd 2013 | 11:06 pm
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Default Re: State Pension

Originally Posted by lesleys
Yep. I know. But minimum age is still 65 for men.
True enough.
 
Old Apr 2nd 2013 | 11:22 pm
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Default Re: State Pension

Sorry - I think you are right. My Dad is 65 in July so he must start receiving it then. He has told me he's expecting to get £800 per month based on a pension forecast he's received from the government but I think I'll ask to see it so I can check.
 
Old Apr 2nd 2013 | 11:27 pm
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Default Re: State Pension

Originally Posted by Gill73
Sorry - I think you are right. My Dad is 65 in July so he must start receiving it then. He has told me he's expecting to get £800 per month based on a pension forecast he's received from the government but I think I'll ask to see it so I can check.
Either way by the sounds of it he won't qualify here in Australia for 10 years, if he qualifies at all.
 
Old Apr 3rd 2013 | 1:38 am
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Default Re: State Pension

Originally Posted by Strayalad
I was talking to friend tonight, about time I lived in the uk in the 90s. Since i have dual citizenship, i needed at one time to go onto welfare. The time i only got a Giro of $40 lol, they don't believe me friend it was so low . I said i was receiving back here at the time $300 a fortnight prior to leaving , a huge difference. My Question is i wonder out of the two countries, in today's terms who's better of?. Today here you would receive about $530 to live on after rents paid, but Gross about $700 odd per fortnight. What do you get in the Uk roughly now days? is it per week still? rough estimate will do cheers.
http://www.humanservices.gov.au/cust...tart-allowance

single, no children $497.00

http://www.humanservices.gov.au/cust.../payment-rates

Single, with no children $123.00 Maximum payment per fortnight if your fortnightly rent is more than $273.20

So, shared house rent is $136.60 per week, about right, you can get a room for that easily.


$123.00 divided by two equals $61.50 off your $136.60 per week rent which equates to $75.10 per week, so times this by two for a fortnight.

Which equals $150.20 which you must pay in rent out of your $497.00, so you are left with $346.80 per fortnight to live on or $173.40 per week?

Hardly appertizing? Rather be busy and work.
 


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