Hi Guys,Would any body be able to offer any help with the following? We've lived in OZ for 20 years and the kids have grown up here and gone to college. They are looking at moving to UK in the future for career and job (this may be long term or medium term) . We want to be flexible in our retirement in the next 5 years ie maybe relocate back to UK for a while or longer. We have the opportunity to buy additional years in our UK state pension but the cost significantly increases next year. I know its frozen here after we draw it but its more portable. The OZ pension is good if we stay but gets reduced greatly if we became non resident (6 weeks and then 26 weeks based on the number of years you have worked in Oz. Also they take into account the UK pension. Not an issue but we have to be in OZ to draw it and also remain in OZ for 2 years after. On the other hand we may end up staying here and paying the additional UK contributions and getting less OZ pension. Any thoughts would be appreciated.

As you'll know, the Aus pension is means tested including any UK pensions that you receive, so you'll need to factor that into your equation. It's hard sometimes to know what to do but in your shoes (assuming you can afford to) I would pay all the additional contributions I can before next year's deadline (I think it's the beginning of the next tax year, but you'll need to check). Then set up the voluntary contributions (it costs around 75 pounds every 6 months). That way you give yourself the benefit of any doubt regardless of where you live, and maximise the amounts that you may receive irrespective of the means testing, for example if you have rental income that knocks out the Australian pension you'll still get the non means tested UK pension on top of your income - minus the tax man's slice, of course. But first things first, get your pension statement.

https://www.nidirect.gov.uk/articles...-state-pension

https://www.humanservices.gov.au/ind...nk/age-pension