Retirement Information

Ex-Pat British Residents ~ Retirement

For those of you who worked in the UK and paid social security payments for ten years or more you (and your partner if you have one) are entitled to a UK pension.

Pension Currently Not Indexed

This pension is not asset tested. It is however considered by the Australian Tax Office as income and is considered when your Australian pension is calculated.

The other anomaly is that this pension is not indexed for residents of Australia, New Zealand, South Africa and Canada. However residents of other countries such as the USA and Israel have these pensions indexed. There is currently a campaign to have your entitlements indexed.

Increase Your Entitlements

You can increase your entitltements by back paying some contributions. The maximum to be reached is 30 years. If you worked 10 years you are entitled to 10/30ths of a full pension. By backpaying 20 years of contributions you (and your partner if you have one) are entitled to a full pension.

When paying in arrears try and get Class 2 contributions rather than Class 3 contributions. To qualify for these you must still be employed when applying.

BPIA Contact Details

You can find more details about British Pensioners in Australia (BPIA) by contacting Jim tilley at jimtilley@bigpond.com or contact the BPIA at their website http://youle.info/bpia-blog/



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