Australian Aged Pension

[Old Croc]

2 hours ago, Nemises said:

The “Issue of the Day” on Nightlife last night was the AAP. It was very informative with numerous callers contributing. Here is the podcast link. You just need to scroll forward to about 3/4 of the way through to find the start of the discussion.


http://www.abc.net.au/radio/programs/nightlife/nightlife/10180382

3:05:55

[ELVIS123456]

Because of all this 'media negativity' about Pensions and Super, it is great that both the main political Parties will now be ‘pitching’ their elections at trying to get the aged vote (55+).  It has been a long time since the Libs gave a rat’s rear about the older generation who dont have $1M+ in Super, plus a rental property (or 2+) that they negatively geared for 20+ years.  Labor will now be offering ‘sweeties’ to get more of us to ‘convert’ and to vote for them, and making great capital of the fact that it was them that rejected the Pension going out to 70.  The Liberals (having now recognised that we are pee’d off) will be offering more ‘incentives’ to try to hang on to what has been for a long time, their base supporting voters. All good.

 

Which brings me to the main point of my post, and that is the views previously by some TV members that the Age Pension and associated benefits should not be seen as a ‘right’ or an ‘entitlement’ paid for by working and paying taxes. That view is wrong - I always knew it was wrong, and so I did some research to prove that it is wrong.  The Age Pension in Aust and the associated benefits, is a ‘right’ - paid for through income taxes – fact.

 

 

 

[CARLO BALDASSARRE]

Hi,

    it would be nice to have the retirement age assessed as in france ,where by depending on the job you have done during your life ,your pension age qualification is judged .

    E.G. Underground  machine man miner........."what the hell" retiring at 67 yrs old, absolutely ridiculous.....That's in my beloved country i call Australia home.

   When i have my birthday on the 19/03/2032 if i don't die before i would have worked in Australia for 53 years....paid over 1 million in tax an to be told you have to wait 2 years before i am elligible

 for my pension to be accessed if i live in another country ....

 

                                                                                                     Love it ,just can't wait .......

[Groove]

5 hours ago, CARLO BALDASSARRE said:

Hi,

    it would be nice to have the retirement age assessed as in france ,where by depending on the job you have done during your life ,your pension age qualification is judged .

    E.G. Underground  machine man miner........."what the hell" retiring at 67 yrs old, absolutely ridiculous.....That's in my beloved country i call Australia home.

   When i have my birthday on the 19/03/2032 if i don't die before i would have worked in Australia for 53 years....paid over 1 million in tax an to be told you have to wait 2 years before i am elligible

 for my pension to be accessed if i live in another country ....

 

                                                                                                     Love it ,just can't wait .......

That's right Carlo, I mean I wonder what percentage of Australian workers have paid into a pension fund for all their lives, even paying super, and then not even living long enough to collect it? But at least you have 13.5 years to prepare for your retirement. I was born the 2nd half of 55, and, thinking I would be getting a pension in 2020 had very short notice when Turnbull increased shortly before 1st July 2017. There is now an odds on certainty that Labour will win next year, especially if 1 of their campaign promises is to bring the OAP age back to 65 and promise to return all the money that wasn't paid to people turning 65 on or after 1st July 2017. No, I think the government has got too greedy, and is, as per normal, taking workers for granted, like paid cattle.

[ripstanley]

6 hours ago, Groove said:

That's right Carlo, I mean I wonder what percentage of Australian workers have paid into a pension fund for all their lives, even paying super, and then not even living long enough to collect it? But at least you have 13.5 years to prepare for your retirement. I was born the 2nd half of 55, and, thinking I would be getting a pension in 2020 had very short notice when Turnbull increased shortly before 1st July 2017. There is now an odds on certainty that Labour will win next year, especially if 1 of their campaign promises is to bring the OAP age back to 65 and promise to return all the money that wasn't paid to people turning 65 on or after 1st July 2017. No, I think the government has got too greedy, and is, as per normal, taking workers for granted, like paid cattle.

Why would they drop it to 65 when they (Labor) were the ones that increased it to 67. 

[CharlieH]

Off topic removed

[Tradewind777]

A friend (78) is in a bit of a pickle trying to get back his AAP from CL after a portability issue went awry.   Here's how it went:-

 

He left Australia permanently 6 years ago to live in NZ following a marriage breakup and to be near his kids.  About 4 years ago, he applied for and got the AAP paid in NZ by their welfare agency.  With his kids grown up now and gone to the four winds, recently he visited the NZ welfare office to announce he was leaving to go and live in Indonesia. They told him 'it should'nt be a problem to get the Aust pension there', a ruling would however be a formality.

 

A couple of weeks later (after arriving in Indonesia), he received a ruling that his OZ pension paid in NZ was being stopped as he had left the NZ permanently.   A call to CL resulted in him being told that because he did not apply for the AAP in Australia, he would have to return to Oz and do the 2 year residency stint before his pension could be portable.  This is a man who has worked his entire working life in Australia and appears on the surface to have been caught in the crack between the rules.

 

My though is that because he filled out Centrelink paperwork, although in NZ it was still an Australian application and not that of NZ.  He would have qualified as a resident at aged 65 when in Australia.  Although it seems unfair in his particular situation, reading through the threads in here there are all sorts of reasons your pension gets cut while overseas (receiving a large inheritance for example) which would trigger then to the AAP and automatically cause the portability prison sentence to be imposed.  Hypothetically, this could mean that someone receiving marginally over the assets test limit, could be chopped off the pension, then have to return home once back under the threshold which theoretically could be months or even weeks later depending on how much over the threshold your assets increased by.

 

Appreciate any guidance anyone has in this scenario.

 

[maccastime]

My two year sentence ends this week so wheels up Saturday. I found that with Centrelink it was a waste of time phoning them a long wait to chat with someone then be given the wrong advice. Easier to go in and sit down and get it right

[moojar]

21 minutes ago, maccastime said:

My two year sentence ends this week so wheels up Saturday. I found that with Centrelink it was a waste of time phoning them a long wait to chat with someone then be given the wrong advice. Easier to go in and sit down and get it right

Ah, someone with actual recent first-hand experience.  Priceless! 

 

A few questions if you wouldn't mind... 

 

Do you need some sort of clearance / something in writing from C/L or is portability automatically granted after precisely two years?

 

When did the two years start? (From when you reached pension age, from when you applied for the pension, ...?)    

 

How long before / after becoming eligible for the pension did you arrive back in Oz? 

 

Were you allowed out of the country during the two years? 

 

Any other useful titbits gleaned from your conversations with C/L officers?

 

Anything you can answer, very much appreciated.

 

Cheers.  

 

[Tradewind777]

10 hours ago, Tradewind777 said:

A friend (78) is in a bit of a pickle trying to get back his AAP from CL after a portability issue went awry.   Here's how it went:-

 

He left Australia permanently 6 years ago to live in NZ following a marriage breakup and to be near his kids.  About 4 years ago, he applied for and got the AAP paid in NZ by their welfare agency.  With his kids grown up now and gone to the four winds, recently he visited the NZ welfare office to announce he was leaving to go and live in Indonesia. They told him 'it should'nt be a problem to get the Aust pension there', a ruling would however be a formality.

 

A couple of weeks later (after arriving in Indonesia), he received a ruling that his OZ pension paid in NZ was being stopped as he had left the NZ permanently.   A call to CL resulted in him being told that because he did not apply for the AAP in Australia, he would have to return to Oz and do the 2 year residency stint before his pension could be portable.  This is a man who has worked his entire working life in Australia and appears on the surface to have been caught in the crack between the rules.

 

My though is that because he filled out Centrelink paperwork, although in NZ it was still an Australian application and not that of NZ.  He would have qualified as a resident at aged 65 when in Australia.  Although it seems unfair in his particular situation, reading through the threads in here there are all sorts of reasons your pension gets cut while overseas (receiving a large inheritance for example) which would trigger then to the AAP and automatically cause the portability prison sentence to be imposed.  Hypothetically, this could mean that someone receiving marginally over the assets test limit, could be chopped off the pension, then have to return home once back under the threshold which theoretically could be months or even weeks later depending on how much over the threshold your assets increased by.

 

Appreciate any guidance anyone has in this scenario.

 

I'm trying to help this mate and the situation is baffling me.  If he applied outside of Australia (ie in NZ and filled out CL documentation and was granted the pension in abstentia from Oz, it would seem to me that this would make his pension portable.  It seems not.  As soon as he left NZ after telling them he was headed to Indonesia, they chopped his pension and now years after qualifying for the pension he finds he needs to come back and do two years porridge in the world's biggest prison to qualify for portability all over again.  Is there anyone out there who has eyeballed the legislation that might throw more light on this situation which seems dreadfully harsh.

[Groove]

4 hours ago, Tradewind777 said:

I'm trying to help this mate and the situation is baffling me.  If he applied outside of Australia (ie in NZ and filled out CL documentation and was granted the pension in abstentia from Oz, it would seem to me that this would make his pension portable.  It seems not.  As soon as he left NZ after telling them he was headed to Indonesia, they chopped his pension and now years after qualifying for the pension he finds he needs to come back and do two years porridge in the world's biggest prison to qualify for portability all over again.  Is there anyone out there who has eyeballed the legislation that might throw more light on this situation which seems dreadfully harsh.

Hey, I can't believe what this country of Australia is turning into? It's like it's going back 200 years as "the prison country" again. I think all we can do is hope and pray that Labour wins the Federal election next year and scraps this portability "bull s***" and puts the retirement age back to where Tony Abbott had us, of giving people 10 years notice in 2013, that 2023 was the year the OAP qualifying age would start to rise. Some people may be lucky and earn far more than any state pension can pay them, but I'm not one of those and I've been in the best relationship of my life for the past 10 years in Thailand. I mean I wrote "The lack of pain relief available in Thailand", but Thailand is a poor country and can't afford the drugs that Australia has, so I may not even live until 68.5 years of age, after doing a 2 years stint away from the little lady. I mean people do realise that Australia is a country of occupation eh? It belongs to the Aboriginis, so the mean administration will resort to anything to keep black fellah's land occupied. That's my theory anyway, and some poor old bloke having to do a 2 years stint at the age of 78? I mean the country's administartion has no heart. Does anyone remember the crying Indian couple who came to Oz a few years back and bore 2 children in Oz, were caught as illegal immigrants, but the 2 very young kids, because they were born Australian, had to remain in Australia, while their parents were deported back to India. I mean, what sort of a country does dreadfull things like that?And I'm having the time of my life in Thailand, and am very fortunate to have turned my hand to work in the music industry, and am working like crazy to be able to make enough to forego their poxy pension. That's how much I value love and life over money. After a lifetime connection with Australia I'm actually thinking of chucking it all in with the country I used to love, and telling them to keep their pension, but if one has no money then one has no choice but to return to an unhappy term of servitude that they may never live to see the end of? Please get elected Labour, and chuck these evil Liberals out. I mean in cases like what's happening to the old 78 year old, we are talking about evil being commited against him. 

[Brickbat]

After the dream team of Howard and Costello, Rudd n Swan blew all the cash that was saved. Then the Libs are brought back in to fix the mess, but unfortunately , this time round, we got mugs. So now, with a world recession looming on us, it’s going to get very tough. They have already started stealing from SMSF’s. Shorten will be true to history and Aus will end up with the short end of the stick. 

[rhodie]

14 hours ago, Tradewind777 said:

I'm trying to help this mate and the situation is baffling me.  If he applied outside of Australia (ie in NZ and filled out CL documentation and was granted the pension in abstentia from Oz, it would seem to me that this would make his pension portable.  It seems not.  As soon as he left NZ after telling them he was headed to Indonesia, they chopped his pension and now years after qualifying for the pension he finds he needs to come back and do two years porridge in the world's biggest prison to qualify for portability all over again.  Is there anyone out there who has eyeballed the legislation that might throw more light on this situation which seems dreadfully harsh.

I would have thought that because he was in Australia for the 2 years before he turned 65, his pension would be portable automatically. I suggest he calls Hobart and tries that angle. Good luck.

[moojar]

^^^ The Libs have recently dropped their policy of raising the pension age further, it will stay at 67.  They announced the age increase in 2014 and were waiting for friendly Senate numbers to get it thru, but have finally caved.  (Trailing 55 / 45 in 2PP (two party preferred) polling will do that.  ????  )

 

https://www.abc.net.au/news/2018-09-05/scott-morrison-scraps-plans-to-raise-pension-age-to-70/10202678

 

Labor are looking a near certainty next year, but I doubt they will scrap the portability "bullsh1t".  Oldies largely vote conservative / LNP, there's not much benefit for Labor in sucking up to them.   

 

 

 

 

[moojar]

14 minutes ago, Brickbat said:

After the dream team of Howard and Costello, Rudd n Swan blew all the cash that was saved. Then the Libs are brought back in to fix the mess, but unfortunately , this time round, we got mugs. So now, with a world recession looming on us, it’s going to get very tough. They have already started stealing from SMSF’s. Shorten will be true to history and Aus will end up with the short end of the stick. 

Or ... Howard and Costello blew the proceeds of the biggest mining boom in our history on pre-election vote buying, and those ongoing expenses are what have the Federal budget in the red to this day now that the boom has busted. 

 

Take your pick.  ????  

 

But politics is what got this thread closed down for a spell wasn't it?  No more from me - over in the 'non pension Oz thread' for that I believe. 

 

 

[maccastime]

23 hours ago, moojar said:

Ah, someone with actual recent first-hand experience.  Priceless! 

 

A few questions if you wouldn't mind... 

 

Do you need some sort of clearance / something in writing from C/L or is portability automatically granted after precisely two years?

 

When did the two years start? (From when you reached pension age, from when you applied for the pension, ...?)    

 

How long before / after becoming eligible for the pension did you arrive back in Oz? 

 

Were you allowed out of the country during the two years? 

 

Any other useful titbits gleaned from your conversations with C/L officers?

 

Anything you can answer, very much appreciated.

 

Cheers.  

 

Happily to assist my friend. After you have served the two years you can go into their site and request to travel o/s I did this about a moth before my two years were up but got no response back and wanted to book a flight as they were only $750 Thai air yesterday the price $1,140?? Ok so I then went in to see them the lady said no I don’t think the two years ends on your return to Sydney she says I think it starts on the day your pap was granted I said I think you are wrong she made ph calls and I was correct.i was 66 when I returned to Aus but it took a lot of convincing that I was staying here then after 4 months they approved the pension and back dated it from when I applied. They advised I could not leave the country at all for two years but have read on here that this may be incorrect so worth checking.let me know if u need further info

[giddyup]

30 minutes ago, maccastime said:

Happily to assist my friend. After you have served the two years you can go into their site and request to travel o/s I did this about a moth before my two years were up but got no response back and wanted to book a flight as they were only $750 Thai air yesterday the price $1,140?? Ok so I then went in to see them the lady said no I don’t think the two years ends on your return to Sydney she says I think it starts on the day your pap was granted I said I think you are wrong she made ph calls and I was correct.i was 66 when I returned to Aus but it took a lot of convincing that I was staying here then after 4 months they approved the pension and back dated it from when I applied. They advised I could not leave the country at all for two years but have read on here that this may be incorrect so worth checking.let me know if u need further info

Centrelink hands out so much incorrect info. When I first decided to move, the lady at C'link told me that my pension would be cancelled immediately once I left Australia. I said I think you are wrong as I have already checked with C'link's overseas branch in Tasmania, and I satisfy all the criteria. She said that was wrong and it wasn't until I insisted that she check on her computer that she admitted she'd made a mistake. I gave her a bit of a pay-out about issuing incorrect info, and guess what, she stopped my pension as soon as I left as payback, and I had to ring C'link Tasmania to get it re-instated immediately. She didn't like having her nose rubbed in it I guess. Been here nearly 9 years now and never another hiccup.

[moojar]

12 minutes ago, maccastime said:

Happily to assist my friend. After you have served the two years you can go into their site and request to travel o/s I did this about a moth before my two years were up but got no response back and wanted to book a flight as they were only $750 Thai air yesterday the price $1,140?? Ok so I then went in to see them the lady said no I don’t think the two years ends on your return to Sydney she says I think it starts on the day your pap was granted I said I think you are wrong she made ph calls and I was correct.i was 66 when I returned to Aus but it took a lot of convincing that I was staying here then after 4 months they approved the pension and back dated it from when I applied. They advised I could not leave the country at all for two years but have read on here that this may be incorrect so worth checking.let me know if u need further info

Thanks maccastime - much appreciated.   

 

I'll use some example dates to make it clearer - to myself.  I'm one of those that reads something wrong then it's stuck in my head as a "fact". ????  And this will be really useful info for a lot of us reading the thread.  

 

So you're saying if you are already at the eligible age for the pension and you:

 - arrived in Australia on, say, 1 January 2016

 - applied for the pension on 15 January 2016, 

 - were approved on 15 May 2016 with the pension payments backdated to 15 January. 

 

You are then free to leave with your portability two years later on 1 January 2018, 15 January 2018, or 15 May 2018?  

 

And you needed to discuss with C/L first to notify them you are going to use the portability?  

 

And Thai airfares - all over the shop eh?  They have promotions all the time for that $750-ish fare, and non-promotion fares are about $1150.  You just have to wait for the next promotion if you can - I booked promo fares two weeks ago for our next trip, and already I got an email this week with "early bird" Europe specials for next year and the same $737 (?) SYD-BKK fare.  Not sure we can count on them much longer though - Thai are reducing flights to all Oz cities from end of October.  Emirates are swapping back to a 777 too after running an A380 BKK-SYD for the last few years.  Fewer seats will mean higher fares eh?  Not that you care, you have your portability!  (Congrats btw) 

 

Thanks again.  

[maccastime]

Yes the two  year exclusion to travel starts again two years from your arrival back in Australia. Yes I didn’t bother phoning them to check when I could depart went in and got it confirmed I also asked for confirmation my pension would not stop while I was away they sent me this via email. I also asked did I need to advise them on my return she said no immigration will do that !!! Big brother eh. I wonder if I travel say next year will I need to advise them?

[Tradewind777]

I had earlier asked if there was a possibility of my 77 y/o mate getting considered for portability on his pension even though he has been in 'an agreement country' receiving it for years.  Here was the answer on the CL website:

 

Former residents

 

People who reside outside Australia being paid under an agreement, who return to Australia for residence and are transferred back to autonomous are to be assessed as a 'former resident'. If they leave Australia again within 2 years (of resuming Australian residence) they will be considered former residents and autonomous entitlement stops on departure (they can be transferred back to an agreement if they're returning to an agreement country).

 

So the question is now, if he goes back to Oz, establishes residency, does trips overseas, although he will loose his pension the moment he leaves and until he comes back, how often can he leave and for how long in the year total can he stay away without being pinged as a non-resident and losing portability.  I'm wondering if he does <6week trips out and spends more time in Oz than out, he'll be ok after accumulating 2 years.   Appears like it is discretionary from what I can see.  Any thoughts or knowledge on this aspect?

[Tradewind777]

If you are already a (long term) resident of Australia when you apply for the pension at say age 66, can you immediately apply for and get portability without waiting the 2 year qualifying period?

 

[giddyup]

44 minutes ago, Tradewind777 said:

If you are already a (long term) resident of Australia when you apply for the pension at say age 66, can you immediately apply for and get portability without waiting the 2 year qualifying period?

 

I did exactly that. Been in Thailand 9 years now.

[David Walden]

18 hours ago, Tradewind777 said:

I had earlier asked if there was a possibility of my 77 y/o mate getting considered for portability on his pension even though he has been in 'an agreement country' receiving it for years.  Here was the answer on the CL website:

 

Former residents

 

People who reside outside Australia being paid under an agreement, who return to Australia for residence and are transferred back to autonomous are to be assessed as a 'former resident'. If they leave Australia again within 2 years (of resuming Australian residence) they will be considered former residents and autonomous entitlement stops on departure (they can be transferred back to an agreement if they're returning to an agreement country).

 

So the question is now, if he goes back to Oz, establishes residency, does trips overseas, although he will loose his pension the moment he leaves and until he comes back, how often can he leave and for how long in the year total can he stay away without being pinged as a non-resident and losing portability.  I'm wondering if he does <6week trips out and spends more time in Oz than out, he'll be ok after accumulating 2 years.   Appears like it is discretionary from what I can see.  Any thoughts or knowledge on this aspect?

Many people get the Pension supplement ($58.30 P/F) mixed up with the Pension the AAP ($860 P/F) the 2 combined add up to $916.30.  When you qualify and receive the Australian Aged Pension (AAP) you get it for life (The AAP) except where you have earnings over the limit or you assets are in excess of the amount allowed.  That part can be long drawn out and complicated if you have given away or hidden assets over the limit or have not declared them or also have a job? Assets in super is very simple. 

    You can go anywhere you like in the world and receive the the AAP.  $860 P/F paid each 4 weeks by Centrelink into any bank a/c you wish anywhere in the World and also the pension supplement ($58.30 P/F) for the first 6 weeks absent. You will always get the $860 P/F pension subject to the assets and income tests.  Make sure if you are going overseas long term to put a return date "I think I'm coming back date".  If you don't put a return on your advice to Centrelink will treat you as if you have left Aus permanently and you will lose the Pension Supplement for that 6 weeks.  Extended holiday makers also.

   If you going overseas and are getting the AAP plus the pension supplement your departure will be automatically recorded with Centrelink as you go through Immigration.  It is only when you going for more then 6 weeks do you have to fill out the information section online "the date you think you are coming back" or advise Centrelink by phone.

 

 

 

 

[David Walden]

18 hours ago, Tradewind777 said:

I had earlier asked if there was a possibility of my 77 y/o mate getting considered for portability on his pension even though he has been in 'an agreement country' receiving it for years.  Here was the answer on the CL website:

 

Former residents

 

People who reside outside Australia being paid under an agreement, who return to Australia for residence and are transferred back to autonomous are to be assessed as a 'former resident'. If they leave Australia again within 2 years (of resuming Australian residence) they will be considered former residents and autonomous entitlement stops on departure (they can be transferred back to an agreement if they're returning to an agreement country).

 

So the question is now, if he goes back to Oz, establishes residency, does trips overseas, although he will loose his pension the moment he leaves and until he comes back, how often can he leave and for how long in the year total can he stay away without being pinged as a non-resident and losing portability.  I'm wondering if he does <6week trips out and spends more time in Oz than out, he'll be ok after accumulating 2 years.   Appears like it is discretionary from what I can see.  Any thoughts or knowledge on this aspect?

       I do believe you are getting the Australian Aged Pension (AAP) and the Pension Supplement mixed up.

      Usually people who live outside Australia in a Country where Australia has a agreement it is only for the benefits you can receive from that country they provide for their own retirees.  Free transport free hospital etc, etc.  There are about 33 countries you can go and live there receive all their benefits.  Even get paid from that countries own Social Security.  Italy is big with this, thousands of older Italians and Greeks and other countries Aus Citz have returned.  Not available to UK Citz or French, there is a list on Centrelink web site, just pack up and go if you want to.   Thailand is not one.  

[David Walden]

On 10/23/2018 at 6:22 AM, Tradewind777 said:

A friend (78) is in a bit of a pickle trying to get back his AAP from CL after a portability issue went awry.   Here's how it went:-

 

He left Australia permanently 6 years ago to live in NZ following a marriage breakup and to be near his kids.  About 4 years ago, he applied for and got the AAP paid in NZ by their welfare agency.  With his kids grown up now and gone to the four winds, recently he visited the NZ welfare office to announce he was leaving to go and live in Indonesia. They told him 'it should'nt be a problem to get the Aust pension there', a ruling would however be a formality.

 

A couple of weeks later (after arriving in Indonesia), he received a ruling that his OZ pension paid in NZ was being stopped as he had left the NZ permanently.   A call to CL resulted in him being told that because he did not apply for the AAP in Australia, he would have to return to Oz and do the 2 year residency stint before his pension could be portable.  This is a man who has worked his entire working life in Australia and appears on the surface to have been caught in the crack between the rules.

 

My though is that because he filled out Centrelink paperwork, although in NZ it was still an Australian application and not that of NZ.  He would have qualified as a resident at aged 65 when in Australia.  Although it seems unfair in his particular situation, reading through the threads in here there are all sorts of reasons your pension gets cut while overseas (receiving a large inheritance for example) which would trigger then to the AAP and automatically cause the portability prison sentence to be imposed.  Hypothetically, this could mean that someone receiving marginally over the assets test limit, could be chopped off the pension, then have to return home once back under the threshold which theoretically could be months or even weeks later depending on how much over the threshold your assets increased by.

 

Appreciate any guidance anyone has in this scenario.

 

Unfortunately for the Australian Aged Pension (AAP) the assets and income test is an immovable object.  As a single person you will receive the full AAP if their total assets are below about $465,000 and do not own a house they live in.   The assets can be Super a car, shares etc.  If you suddenly inherit a house left to by you mother worth $600,000 you pension will be reduced  $3 per $1000 per fortnight above the threshold and stops when you get to about $760,000.  In this case your assets will be say no house and you have $450,00 assets you still get the full pension.  The $600,000 house inherit means you get nothing.  You are about $600,000 over the limit.  If you try to give it away to your kids that is tricky.  You would most likely still to be over the asset level as you can only give away $10,000 per year (or $30,000 for 5 years up front).  If you gave it away the whole $600,000 house Centrelink would still asses you as having $570,000 assets plus the $450,000 you already have.  Centrelink will not allow assets to be given away if it will increase you pension entitlements.  As far as I know you do not have to accept an inheritance if you don't and are happy with your $450,000 of assets you will still receive the full pension.  Your kids might be very generous as time goes by if they now inherit the house, not you...who knows.

[Ban Phe Dezza]

2 hours ago, David Walden said:

Many people get the Pension supplement ($58.30 P/F) mixed up with the Pension the AAP ($860 P/F) the 2 combined add up to $916.30.  When you qualify and receive the Australian Aged Pension (AAP) you get it for life (The AAP) except where you have earnings over the limit or you assets are in excess of the amount allowed.  That part can be long drawn out and complicated if you have given away or hidden assets over the limit or have not declared them or also have a job? Assets in super is very simple. 

    You can go anywhere you like in the world and receive the the AAP.  $860 P/F paid each 4 weeks by Centrelink into any bank a/c you wish anywhere in the World and also the pension supplement ($58.30 P/F) for the first 6 weeks absent. You will always get the $860 P/F pension subject to the assets and income tests.  Make sure if you are going overseas long term to put a return date "I think I'm coming back date".  If you don't put a return on your advice to Centrelink will treat you as if you have left Aus permanently and you will lose the Pension Supplement for that 6 weeks.  Extended holiday makers also.

   If you going overseas and are getting the AAP plus the pension supplement your departure will be automatically recorded with Centrelink as you go through Immigration.  It is only when you going for more then 6 weeks do you have to fill out the information section online "the date you think you are coming back" or advise Centrelink by phone.

 

 

 

 

I just wish folks would be Accurate with their statements  EG
The current rate is 

The Maximum basic rate

$834.40 not $860

as

 

 

 

 

 

[Ban Phe Dezza]

2 hours ago, David Walden said:

Many people get the Pension supplement ($58.30 P/F) mixed up with the Pension the AAP ($860 P/F) the 2 combined add up to $916.30.  When you qualify and receive the Australian Aged Pension (AAP) you get it for life (The AAP) except where you have earnings over the limit or you assets are in excess of the amount allowed.  That part can be long drawn out and complicated if you have given away or hidden assets over the limit or have not declared them or also have a job? Assets in super is very simple. 

    You can go anywhere you like in the world and receive the the AAP.  $860 P/F paid each 4 weeks by Centrelink into any bank a/c you wish anywhere in the World and also the pension supplement ($58.30 P/F) for the first 6 weeks absent. You will always get the $860 P/F pension subject to the assets and income tests.  Make sure if you are going overseas long term to put a return date "I think I'm coming back date".  If you don't put a return on your advice to Centrelink will treat you as if you have left Aus permanently and you will lose the Pension Supplement for that 6 weeks.  Extended holiday makers also.

   If you going overseas and are getting the AAP plus the pension supplement your departure will be automatically recorded with Centrelink as you go through Immigration.  It is only when you going for more then 6 weeks do you have to fill out the information section online "the date you think you are coming back" or advise Centrelink by phone.

 

 

 

 

I just wish Folks would check their Facts the Current rate PFN $826 .20 plus part of the endowment if living overseas The Part endowment paid is $25.00 Approximately thus PFN   one would receive $851.20 x 2 is $1702.80 call it $1703 so in My Thai Account I get 

 

AUD Australian Dollar To THB Thai Baht 1,703 AUD =39,678.26 THB strangely enough this is very near the amount I received on Oct first  not sure how much Bangkok Bank takes out. up to 500 Baht  FTR I have been getting my Pension here since 2000  Now as a side Issue that is not enough for a single person to qualify for a Retirement extension sad to say. 

[David Walden]

1 hour ago, Ban Phe Dezza said:

I just wish folks would be Accurate with their statements  EG
The current rate is 

The Maximum basic rate

$834.40 not $860

as

 

 

 

 

 

I'm a pensioner my assets are below the threshold.  Some people assets are above the threshold their AAP will be adjusted as required.  I live in Thailand 60% of my time 40% back in Aus.   As a single Australian Aged Pension recipient (AAP,  the name Old Aged Pensioner OAP was dropped 30 years ago).  When in Aus the present AAP payment and the pension supplement is $916.30 as shown on the Centrelink web site.  After 6 weeks absent from Aus my AAP payment from Centrelink is exactly $860.   I am well aware that some of the Pension Supplement is still retained in this payment $860.  You need to be bit of a bush lawyer to work it exactly.  My figures are very accurate.  The $916.30 is adjusted every 6 months in line with the CPI

   If you are an AAP recipient and wish to live in Thailand that is what you will be paid each fortnight.  Anyhow that's what I'm paid.  It's no secret.

[David Walden]

3 hours ago, David Walden said:

       I do believe you are getting the Australian Aged Pension (AAP) and the Pension Supplement mixed up.

      Usually people who live outside Australia in a Country where Australia has a agreement it is only for the benefits you can receive from that country they provide for their own retirees.  Free transport free hospital etc, etc.  There are about 33 countries you can go and live there receive all their benefits.  Even get paid from that countries own Social Security.  Italy is big with this, thousands of older Italians and Greeks and other countries Aus Citz have returned.  Not available to UK Citz or French, there is a list on Centrelink web site, just pack up and go if you want to.   Thailand is not one.  

Agreement
Austria	International Social Security Agreement between Australia and Austria also available in other languages
Belgium	International Social Security Agreement between Australia and Belgium also available in other languages
Canada	International Social Security Agreement between Australia and Canada also available in other languages
Chile	International Social Security Agreement between Australia and Chile also available in other languages
Croatia	International Social Security Agreement between Australia and Croatia also available in other languages
Cyprus	International Social Security Agreement between Australia and Cyprus also available in other languages
Czech Republic	International Social Security Agreement between Australia and the Czech Republic also available in other languages
Denmark	International Social Security Agreement between Australia and Denmark also available in other languages
Estonia	International Social Security Agreement between Australia and Estonia also available in other languages
Finland	International Social Security Agreement between Australia and Finland also available in other languages
Germany	International Social Security Agreement between Australia and Germany also available in other languages
Greece	International Social Security Agreement between Australia and Greece also available in other languages
Hungary	International Social Security Agreement between Australia and Hungary also available in other languages
India	International Social Security Agreement between Australia and India also available in other languages
Ireland	International Social Security Agreement between Australia and Ireland
Italy	International Social Security Agreement between Australia and Italy also available in other languages
Japan	International Social Security Agreement between Australia and Japan also available in other languages
Korea	International Social Security Agreement between Australia and Korea also available in other languages
Latvia	International Social Security Agreement between Australia and Latvia also available in other languages
The former Yugoslav Republic of Macedonia	International Social Security Agreement between Australia and the former Yugoslav Republic of Macedonia also available in other languages
Malta	International Social Security Agreement between Australia and Malta also available in other languages
The Netherlands	International Social Security Agreement between Australia and the Netherlands also available in other languages
New Zealand	International Social Security Agreement between Australia and New Zealand also available in other languages
Norway	International Social Security Agreement between Australia and Norway also available in other languages
Poland	International Social Security Agreement between Australia and Poland also available in other languages
Portugal	International Social Security Agreement between Australia and Portugal also available in other languages
Slovak Republic	International Social Security Agreement between Australia and the Slovak Republic also available in other languages
Slovenia	International Social Security Agreement between Australia and Slovenia also available in other languages
Spain	International Social Security Agreement between Australia and Spain also available in other languages
Switzerland	International Social Security Agreement between Australia and Switzerland also available in other languages
United States of America	International Social Security Agreement between Australia and the USA also available in other languages

 

[Tradewind777]

6 hours ago, David Walden said:

       I do believe you are getting the Australian Aged Pension (AAP) and the Pension Supplement mixed up.

      Usually people who live outside Australia in a Country where Australia has a agreement it is only for the benefits you can receive from that country they provide for their own retirees.  Free transport free hospital etc, etc.  There are about 33 countries you can go and live there receive all their benefits.  Even get paid from that countries own Social Security.  Italy is big with this, thousands of older Italians and Greeks and other countries Aus Citz have returned.  Not available to UK Citz or French, there is a list on Centrelink web site, just pack up and go if you want to.   Thailand is not one.  

I'm wondering about this. As mentioned in my earlier post, my mate left NZ for Bali and told them before he went. Within a week he got a notice from NZ Superannuation (their CL) that his CL agreement pension had been stopped because he left NZ permanently. HOWEVER, what is interesting is he left NZ earlier in the year for a 2month holiday without informing NZ immigration and they DID NOT CUT HIS PENSION.  So you may well be right that they treat the payment much as they treat their own cits excepting when the client tells them he's leaving. 

 

So my advice to my mate may need to be - go back to NZ.  Establish residency again, get the pension re-established and then bugger off without saying anything, possibly returning every 25 weeks in case there is a limit on the amount of time away - however, for NZ citz there is NO SUCH RESTRICTIONS sooooo... it could be he'd be treated accordingly.  Would be worth checking on this but how to do such checks to get the true blue facts.

 

Any thoughts or feedback appreciated.