Hi I am seeking clarification regarding some issues relating to an Australian "Private"  Pension and the requirements for the Retirement Extension

 

Unlike in many countries the Australian Government  Retirement Pension is means tested and despite the fact you may have contributed through paying big taxes over the years as I have unless you meet the requirements of the assets test, the bar for which is continually being lowered you are denied the pension which is my situation.

 

I do have my own private  pension accumulated through an Industry Superannuation ( Pension ) Fund which for convenience I choose to have paid bi annually into a Thai Bank Account the total annual  amount exceeds the annual amount required for the Retirement Extension

 

My questions are

 

1 Does my current situation meet the requirements and  financial test for the Retirement Extension?

2 As the pension is not paid by the Australian Government but my private superannuation ( pension)  Fund is a letter from this Fund and the Thai bank confirming such payments sufficient to satisfy the Immigration Department?

( If the requirement is for the pension to be paid monthly that can be achieved without a problem)

 

Any advice and experience in this area would be appreciated

 

You need to ensure that 800,000 Bht has been in the bank for 3 months prior to the day an extension of stay is applied for.

 

If that cannot be achieved then it would be best to obtain an affidavit from the Australian Embassy which relates to your having a monthly income in excess of 65,000 Bht/month.

 

It is also possible to use money in the bank + evidence (provided by your Embassy) of monthly income which together total 800,000 Bht.

 

The actual source of income is not an issue.

There is no rule that states you must be on a pension of any kind. Any income can be used to apply for an extension of stay based upon retirement at immigration.

You only need to do a statutory declaration at the Australian embassy to prove an income of 65k baht or more.

Thanks Joe that information  is much appreciated

Regards

Stephen