debs1966

Hi Guys

I am moving out to Perth in August on a permanent 136 skilled visa.

Obviously having worked in the UK for nearly 30 years what happens to your UK state pension when you retire if you are still in Oz?

I am just interested to know and once you starting working in Oz do you start accruing a pension for there also please?

Just interested to know please.

Many thanks

Debbie

quoll

Your UK state pension will eventually be paid to you when you reach pension age but it will be frozen at the rate you first take it as Australian residents dont get the increases that UK residents do.

It is compulsory in Australia to contribute to a superannuation fund and your employer will be required to put 9% of your salary into a fund of your choice. What you do with it when you reach pension age is up to you, most people get some sort of annuity, others take a lump sum and invest (or spend) it. The Centrelink aged benefit is means tested and will include income from your UK pension and you wont be able to access that benefit until you have lived in Aus for 10 years anyway.

koalakim

We're self-employed and we haven't been made to do Super. Our accountant suggested we decide where we want to retire to and then decide where to put our money although that was a while ago! Most of our money has gone into the business (hopefully one day it will pay us back!). Having said that we do some freelance work which is paid and they've set us up a superfund so at least we've got going!

Check with the Nat Ins office before you leave as you may have already paid enough not to have to do anymore contributions, we were surprised when we checked and under the new rules they said that's it! If not then you can pay voluntary and if you are near the threshold then it's worth it carrying on.

You never know what is going to happen (hate Oz, aged parents etc etc) so it's wise to have a foot in both camps!

donttellmyboss

Here are more details should you need to top up:

http://www.direct.gov.uk/en/MoneyTax...ngup/DG_190077

debs1966

Thanks for your comments I spoke to the Pension Service yesterday.

Its a good idea for anybody to do a Pension Forecast to see how much is needed to top up to receive state pension.

I know retirement is a long way off but it is better to know now before I am knocking on heavens door I guess.

Many thanks

Debbie

Bibbs

Look at filling out an NI38 as well, to make sure you've put in for the full 30 years.