How to get the Australian Pension while Living Overseas

In this video we look at can you collect an Australian based pension and then take that with you to live overseas in somewhere like Southeast Asia where your dollar goes much further.

We also look at what you have to do to claim the Australian age pension if you moved overseas before you were eligible to claim the pension.

There are three main points to consider when determining how your Australian government pension will be affected once you decide to travel overseas:
1 - If you leave the country for less than 6 weeks.
2 - If you leave the country for more than 6 weeks but less than 26 weeks.
3 - If you leave Australia for more than 26 weeks.

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DISCLAIMER: This video is not professional advice of any kind. The purpose of this video is for research and entertainment only. It is your responsibility to do your own research and verify the accuracy and timeliness of any information that we provide, and to obtain the services of a professional if necessary. If you wish to obtain professional advice from us, you need to first formally engage us to provide services.

#australia

[OzScalemodeling]

Thank you for this information, 1 Question, Do you pay income tax on your Pension payments?

[gingerkilkus]

In the 1990s I sold pensions on the strength that the tax free lump sum would pay off most if not all of the mortgage and leave the investor with a pension for life. Most were over a 40 year term plus, I was not alone.

[XxXG-cddh]

I knew about the two years rule before the pension becomes portable but it is a shit rule since you cant go anywhere until your almost 70 and just about to kick the bucket. Australian govt is a stingy bunch of grubs

[edwinagolombek]

I was born in Australia in 1946 and left in 2000 to live in Morocco. I am unable to get the Aged Pension, despite paying taxes for 30+ years..I am too ill to travel back to Australia. All my UK and American friends of Aged Pension age, receive their pensions..disgusting..I have to work to generate income, as ill as I am... I have no family...

[GazGuitarz]

The other option is to forget about Australian pensions altogether and just sell up and fund your overseas lifestyle yourself. If you have a Thai wife you can build or purchase a home somewhere nice like Hua Hin and still have a motza in the bank and live like a King. Of course this will only work if you already own a home in Australia and sell it at current exorbitant prices. $40, 000 Aud makes you a Thai millionaire in rural areas like Kalasin. All you need worry about then is renewing your Thai marriage visa every 12 months.

[juanpinpol]

So, there is no money for pensioners, but for the military, no problems?

[hongser]

Should give them wherever they live. Sometimes, the system totally impacts vulnerable people.
Even they live inside Australia they’re living without own house and they can’t buy a house. That’s crazy system. I’d like to ask and inform one of my questions about vulnerable people and/or pensioners eligible to buy a house

Just free them do not control them like a bird in the cage

Free visa free life style and can live abroad wherever they like

That’s it

[johngreydanus]

Advice for younger viewers: Work hard, save money, invest wisely, especially superannuation, then you can retire on you own terms, and not be watching these videos and complaining when you get to be 70 years old, broke, and homeless.

[prtygrl]

$75 per fortnight? to buy the groceries you'd need $400 per fortnight, then the rent expenses, medicine 😂 Why australia why? you're a rich country why pay so little.

[dipendraranjit-wbbv]

I just like to ask who and how anyone think a person can live in Australia with 25k a year??
Please explain!
It’s super sad! That we all know this but it’s happening!

[davidwalden]

Mostly correct but quite good. You did not mention the assets and income requirement thresholds. The limit to get a full pension is $545, 000 assets, which will reduce by 50 cents in the dollar, and the pension will stop at about $900, 000. Some people do not qualify for the Australian Aged Pension as they overstepped the assets and income threshold of about 20% of people.

[BraveFartz]

I am in Thailand and receive approximately $24, 600 a year pension a single man , no idea as to why I had to lose rental supplement and other supplementary payments, travel,prescriptions,utilities after all we still encounter these when over seas. We paid our taxes in Australia for over 40 to 50 years therefore we are entitled to every bit of the pension regardless of where we chose to retire. If we ALL moved back to Australia it would cost the government more and also put a huge strain on health and rental accommodation

[TheDruzza]

The soveriegn individual book in the background - excellent book that!

[gordonsimpson]

What pisses me off is that politicians don't have to go through all this bs.... They don't have to wait until they are 67 and also get all the perks available for the rest of their lives, it's disgraceful! You work hard all your life than want to go on a long-term trip to experience the things you weren't able to do when you were working apart from the usual two weeks holiday and then get penalised for it, again, unless you're a politician.

[bevo]

I have a question ?

I a person isn't on a 67 old age pension ...
but is over the 35 year Australian citizens tax payers requirements rule ( as you discussed an Australian born person over the age of 51 ) & they are on a Australian government Disability support pension ..

are the moving overseas permanently deductions accessed the same as the old age pension scheme. .

The benefit of living abroad would obviously be a great benefit for a person that requires ongoing medical treatments to assist them with their disabilities...& Does they government deducts medical allowances when living abroad from Australia

[blessedramos]

This is too complicated. I came to Australia when I was 39 years old, I’m 53 now. I guess the best way for me is to prepare for my retirement in the Philippines and don’t come back. You can’t survive in Australia for just $1000 every fortnight. I feel sorry for the elderly here. After working so hard all your life, they will only give you a max of $25k a year. What a joke!

[gethro]

Does Centrelink know you have left the country by Sea ? Do the Ports Authority computers talk directly to Clink Computer like the Immigration at Airports do ?

[davannaleah]

I came back to Australia after being overseas for 2 years during the pandemic. I was pension age and applied upon my return. I was told that i have to stay in Australia for 2 years or possibly lose the pension but then was later told i could leave at any time, so that was confusing. One thing to be careful about. I had a part time job during the 2 years i was back, as expected, tax was taken out each pay period and my pension payments were reduced based on what i was earning. The catch was, the pension was added to the income and tax was based on the total, so the tax taken out each pay period was not enough. I ended up with a massive tax bill because of this.

[hazelem]

We’ve just come back after three months in Europe with our son who lives there. After 6 weeks the pension started decreasing, and in our last pay before our return, we were each down about $50. I have been working in Australia for 22 years, my husband has worked for more than 35 years. I received a letter from Centrelink telling me about living outside of Australia and the 35 year ratio, my husband did not. I wasn’t sure why they sent it because we have no intention of living elsewhere. Having said that, as we were coming through immigration, there was a message in our inbox saying “welcome back” 😂 just shows they know everything about everything.

[dancooper]

A pensioner in Australia on full benefits PLUS rent assistance, carers allowance, PBS scheme, bulk billing, free transport, optical & dental scheme, electricity rebates, prescription discounts etc etc etc…..AND eventually go into Govt funded nursing home is a big cost to the budget. I’m sure the bean counters would prefer they simply go away to a foreign country where NONE of those extra benefits are paid AND relieve a Reduced rate of Pension . It would easily halve the cost & after living overseas I’ve noticed most of them die there.