Thread: Where would you go when you hit state pension age?

Hopefully Simon did a checklist of what he needs and wants. Many move on a whim never considering the "What Ifs" . As we get older our needs and wants change as do our expectations. Never trap yourself.

I have always liked my trips to the Philippines. There are some great places to live as Topper and Tizme have found. Same with Vietnam. I could easily live in either location. Thailand still works for me, but Sicily is on my radar once my FIL moves on.

Originally Posted by BLD

There's a poster here that lives in a warm climate that reckons he gets depressed if the weather gets below 30 degrees , only happens a couple of times a season though. Can't remember the name he gave that affliction. Seems strange

So...you decided to copy the entire post, picture and all, just to make an idiotic and inaccurate statement, in an attempt to put me down ?

I agree with Mark.

@BLD - how true is it that for Oz, NZ and Canada, you must stay in your country for 6 or more months so that you can still use the health system? I've heard abt that from Filipinos who are now citizens of those countries (and are dual PH-Aus citizens). Some of them would like to retire fully in PH but can't/ won't do it because they still want to avail of the NIH (equivalent) of Oz (or NZ or Can).

the future Labour government will abandon the nonsense and increase all pensions irrespective of where the recipient might be.

but it will only be for blacks, browns, mohammedans, the disabled, those sporting the keffiya and of course the lgbtqt brigade.

whites, especially those who were schooled at private schools and all those not born into working class families in deprived areas will be barred from qualifying.

i take it you havent been to the uk in a while.

A mate of mine was just on pension age and had to do the 6 months back in Oz he had been living all over the world for about 20 years. He was about 4 months into his forced stay in Oz when covid struck and he couldn't go anywhere for a couple of years.

Originally Posted by BLD

Mostly they fly in see the relatives and fly back, job done but as they are getting on a bit it's becoming a real problem, it's absolute bullshit as far as I'm concerned they worked for the pension should be able to retire where you want.

I fully agree BLD. So why don't they keep a mailing address in Aus and have their pension checked deposited into their bank account there and move funds as needed?

I mean I get that some packed up and left and cut all ties so they have no way back.

Not that easy stumpy. Immigration is linked to centrelink, ATO etc if your on some sort of benefit your flagged on departure and entry
It's quite Orwellian all the personnel choices and freedoms gone. Gone like Terry 57s hair.

Originally Posted by BLD

Not that easy stumpy. Immigration is linked to centrelink, ATO etc if your on some sort of benefit your flagged on departure and entry
It's quite Orwellian all the personnel choices and freedoms gone. Gone like Terry 57s hair.

yup, that’s true. I lost some student benefits back in the day when they flagged I’d gone overseas for 3 weeks.

Originally Posted by BLD

Yes that's correct I've got mates retired in Lao that have to return every 6 months to keep the pension alive.

Nonsense...that's misinformation.

Many, many Australian people live overseas on the pension, including quite a few in Thailand (and I suppose Laos). If they are planning on eventually returning to Australia they often return briefly every two years to keep their Medicare entitlements. In the meantime, their pension payment itself is slightly reduced as one add-on component is cut out.

Originally Posted by BLD

Not that easy stumpy. Immigration is linked to centrelink, ATO etc if your on some sort of benefit your flagged on departure and entry
It's quite Orwellian all the personnel choices and freedoms gone. Gone like Terry 57s hair.

Well that sucks ass. Funny how governments work. Like the US. I have to report to them how much I make every year and how much I have in my acct here. They say its to protect and identify drug traffickers. I say BS. They want to know how they might be able to Tax me in the US. However upside, when I am a pensioner there is no issue and mine will go to my bank acct in the US and I will receive the annual increases.

Originally Posted by katie23

@BLD - how true is it that for Oz, NZ and Canada, you must stay in your country for 6 or more months so that you can still use the health system? I've heard abt that from Filipinos who are now citizens of those countries (and are dual PH-Aus citizens). Some of them would like to retire fully in PH but can't/ won't do it because they still want to avail of the NIH (equivalent) of Oz (or NZ or Can).

I don't know about the other countries but there's no residency restriction timeframes for returning New Zealand citizens in terms of healthcare. Though the state of public health there is more likely to mean people die on the endless wait lists unless they pay/have insurance for private care.

For pension/retirement, NZers resident there can travel overseas for up to 26 weeks and continue to receive their payments.

But - and this will apply to me if I'm still around at age 65, I need to have lived (not necessarily working, just being there is enough) in NZ total 60 months between ages 50-65, and I will get a percentage of the basic pension rate paid to me in Thailand - the percentage is based on how many months I have lived in NZ between ages 20-65 ie maximum 540 months is 100%.

As I've been out of the NZ in a non-reciprocal country (eg my time in Australia does count) so use example Thailand and say 15 years here, would get a person 360/540 = 67% of the basic rate.

My (very much) older brother lived/worked in UK over 30 years and retired to NZ at 60, after 65 he got the NZ pension plus a monthly top-up from UK from a private retirement scheme he'd paid into, despite having worked in the country only a few years.

Thank you baby Jesus for the USA and social security. One has to work for 40 credits, which is basically 10 years but doesn’t have to be consecutive. The monthly amount is based on the top years of your income. Pays anywhere except N. Korea and Cuba and has cost of living raises every year.

I would hate to live on it as sole income in America but elsewhere it’s a nice chunk of change every month.

Originally Posted by taxexile

whites, especially those who were schooled at private schools and all those not born into working class families in deprived areas will be barred from qualifying.

Does that also apply to Polish jews?

Originally Posted by misskit

Thank you baby Jesus for the USA and social security. One has to work for 40 credits, which is basically 10 years but doesn’t have to be consecutive. The monthly amount is based on the top years of your income. Pays anywhere except N. Korea and Cuba and has cost of living raises every year.

I would hate to live on it as sole income in America but elsewhere it’s a nice chunk of change every month.

Amen to that MK. The SS benefits is a nice chunk of change to go play. I can easily live comfy and not touch any investments, my IRA etc.

That said, assuming I reach 70, I plan on spending money like I stole it. I am not saving anything for a rainy day or the medical What ifs. Last thing I want to do is cough up my hard earned cash to give it to doctors and hospitals.

Originally Posted by Salsa dancer

Nonsense...that's misinformation.

Many, many Australian people live overseas on the pension, including quite a few in Thailand (and I suppose Laos). If they are planning on eventually returning to Australia they often return briefly every two years to keep their Medicare entitlements. In the meantime, their pension payment itself is slightly reduced as one add-on component is cut out.

yes many pensioners do manage to live overseas in certain jurisdictions but if residing in Laos they must return every 6 months. its a bit like a visa run. turn up say gidday then get the
fuck out. The countries that Australia have a social securty agreement means you may be able to get a pension , Laos is not one of those countries.

Theres plenty of info there prancer do a quick google of MYGOV or Services Australia im sure your familiar with both. You should save up an airfare and put it to the test .

Actually prancer it seems we're both not correct. Messaged a mate in Lao and he reckons After you have been receiving the pension in Oz for 2 years Then you are able to receive it overseas indefinitely. Prior to the 2 years you are limited to the time you can stay overseas. I was thinking John went to Oz for 6 months to activate it but it turned out that it was a stay 2 years or don't get it deal which turned out easy for him to achieve because of covid. He had to stay 3 years away from.his family
So I stand corrected. In another 7 years I might find out if I can receive a pension? I doubt I will though as it's means tested . Oh well

Aus aged pension eligibility for single expats:

To get Age Pension you generally need to have been an Australian resident for at least 10 years in total.
For at least 5 of these years, there must be no break in your residence.
You must be resident for the 2 years prior to applying.

67 years or older.

Pension is reduced by 50 cents for each dollar earnt over $204, cuts off totally if you earn more than $2,436.60 fortnightly.

If you are single and a home owner, your pension cuts out if your other assets are over $674,000.
If not a home owner, then it cuts off at $916,000.

Full details are here: https://www.servicesaustralia.gov.au/age-pension

Originally Posted by Simon43

The alternative is that I stay here in Luang Prabang. A good Lao friend (the bank manager) and from a wealthy family who owns houses and land in/around the town has offered to let me rent a piece of his land for a nominal rent (actually he said rent-free but my lawyer says it's better to pay $10/year for legal reasons), and that I could built a small and air-tight house (ie decent windows/doors and frames, not wooden DIY crap). I could live there rent-free until I die. (His reason for offering this is not only because he is a good friend, but he wants someone to live on that large piece of land to show that it is 'inhabited', since his family do nothing with the land. That land is maybe 30 rai, so half a rai among the trees is of no loss to him...

If I can really live rent-free in a small, decent cottage, then my UK pension will see me fine

Decisions, decisions.

Yeah that's how they roll. The house we have in vientiane has a huge block of land next door that was basicly jungle but does have 3 valuable teak trees growing on it. Anyway they don't want to build so just cleaned it up and planted a few veggies and raise a few chickens, now that land is deemed as Occupied so no land tax. If they had of asked me I would of paid it for them to avoid all that rooster noise it wax fuckall anyway

Originally Posted by Stumpy

I fully agree BLD. So why don't they keep a mailing address in Aus and have their pension checked deposited into their bank account there and move funds as needed?

I mean I get that some packed up and left and cut all ties so they have no way back.

Probably because it's fraud and at the very least they would expect to have to refund the money they obtained fraudulently.

Payments while outside Australia

To get your payment or concession card while outside Australia, you must continue to meet the qualification rules at all times.
Age pension payments while overseas
If your payments can continue while you’re outside Australia and you intend to be away for:

• less than 12 months, we’ll continue to pay you every 2 weeks into your Australian bank account
• more than 12 months, we’ll pay you every 4 weeks into your Australian or overseas bank account.

Rates	A$ amount per year single	A$ amount per year couple both eligible	A$ amount per year couple one eligible partner	A$ amount per year couple separated due to ill health
Maximum basic rate	$26,535.60	$40,003.60	$20,001.80	$,26,535.60
Basic Pension Supplement rate	$735.80	$1,211.60	$605.80	$735.80
Total	$27,271.40	$41,215.20	$20,607.60	$27,271.40

Livin' the dream