Australian age pension

https://theconversation.com/there-will- … fix-144732

Have a look at the above link for further information. Hope this helps.

To the OP while I am not on a pension nor ever will be I have looked into it years ago and I believe you are right. Living out of country you also lose other benefits afforded to those living and scrabbling to survive on a minuscule pension in Australia,,,, I'm sure you are well aware.

Simply log into myGov.com.au and I'm sure your answers will be there.
BTW welcome to the forum and I wish you luck finding the correct answer.

Cheers, Steve.

Rex71 wrote:

I am living in the Philippines on a long term basis and receiving the Australian age pension.

I have been told that once Centrelink decides that I am out of Australia on a permanent or long term basis they will stop indexation of my pension.

Does anyone know if this is true?

I dont know about Australia but  it wouldnt suprice me if you loose, because for Sweden - and I believe Canada - its much worse, LOOSING MUCH if not being there at least hallf of the year.  I will/would loose the almost free health care and other big  benifits and also geting my net pension around HALFED     
But I expect the "rich" countries becoming more and more short of money so I expect the real value of penssions will go down much on top of that anyway.  It has allready two times in big steps in Sweden by first politician noticed the "chain leter" structure, which  they had made to  give THEIR generation much MORE than they had paid to it,  will get out of money so they stole much money staring with my generation by changing how to count, and in second step they stole by raising the retire age, which was high allready...   
So I try to compensate for that by starting business in Phils   

Rex71 wrote:

I am living in the Philippines on a long term basis and receiving the Australian age pension.

I have been told that once Centrelink decides that I am out of Australia on a permanent or long term basis they will stop indexation of my pension.

Does anyone know if this is true?

Although I am not from Aus, I read some rules and it is highly possible that they will reduce your pension to basic and I believe you have to report if you go out of your country for more than 6 weeks and the benefit depends on how long you stay outside of your country, although there were some countries which have ties to your social security there, in asia I think only Korea, India and Japan..

https://www.servicesaustralia.gov.au/in … tries-asia

Hi everyone,

Please note that a few inappropriate posts have been removed from this thread.

Thanks,

Priscilla
Expat.com Team

Priscilla wrote:

Hi everyone,

Please note that a few inappropriate posts have been removed from this thread.

Thanks,

Priscilla
Expat.com Team

coach53 wrote:

So I try to compensate

Yes we too had a scare a few years ago when our very own politicians back home started to encourage (more like making it mandatory) for its residents to shift their cpf/ss payouts fm 65yo to 70yo...claiming that by doing so retirees would inturn be able to receive an increased monthly payout sum (of 35% more for that 5yr postponement)
which I don't really care about.

The other worry is the  inflation/currency exchange fluctuation in the next >7.5 yrs before the actual payout starts to kick in for me   & whether that money is as worth as much as it is today.
Thats why I built a few other small investments back at home before I left...(the compensation/back up plan)

a) A tiny new fully fitted/fully paid for studio apt which should be ready to move in sometime early next year & hopefully that would generate a small rental income stream.
b) A private life insurance policy that was taken up when I was 21yo which should have a cash-out sum on its surrender (still paying for it for >36yrs)
c)  Cash savings that should hopefully last the 7.5yrs provided I stick to my current minimalist cost of living in this deprived province or if not to go back home as a senior citizen & seek temp employment once again (maybe at Jollibee Singapore  ) till that cpf/ss kicks in & finally
d) Most importantly NOT falling ill & Trying to stay healthy without the need for any kind of expensive medication/procedure (so that for me would include my consuming raw cloves of garlic/s-exercising daily which I have been doing faithfully for the past 3yrs.)

manwonder wrote:

d) Most importantly NOT falling ill & Trying to stay healthy without the need for any kind of expensive medication/procedure (so that for me would include my consuming raw cloves of garlic/s-exercising daily which I have been doing faithfully for the past 3yrs.)

The understatement of the year.

This should be mentioned of all future dreamers planning on moving to the Philippines. The older you get, the more medical problems you have. Years of savings can be wiped out in days, weeks or months.

Hello Rex
I am living in Cebu for over 3 years now and receiving my Australian pension in my Australian bank account then transferring money here through internet banking. So far when I return to Australia, my pension goes up and 6 weeks after I leave, I lose A$90 per fortnight ( power subsidy payment I think).  Also I have received regular increases in my pension, cost of living/inflation.  I am worried by what I hear about the new cashless card that is supposedly being implemented. I hope this helps.

Rex71 wrote:

I am living in the Philippines on a long term basis and receiving the Australian age pension.

I have been told that once Centrelink decides that I am out of Australia on a permanent or long term basis they will stop indexation of my pension.

Does anyone know if this is true?

There has been some discussion on the Vietnam forum of another possible pending problem which might effectively cause some Australian retirees to lose access to some or all of their retirement funds.

Sorry I can't find the link to that discussion right now, but as I recall the gist of it is that the Australian government is considering paying your retirement pension totally through a cash card.

I really don't know all the particulars of that.

I know it has people in Vietnam alarmed because this is largely still a cash society.

So the question becomes whether or not the cash card will be accessible at all ATMs and POS retail points worldwide or only in Australia?

Again I don't know all the facts about this, but I do know that a number of my Australian expat friends are concerned about the possible development.

Hi there,

I am currently working in Australia but have a Filipino wife.  I will be retiring in a few years to live full time in the Philippines.

I did ask Centrelink about living permanently in the Philippines abs getting the pension.  In my cars they said there shouldn't be a problem.

But if you want to contact them try the following which may be helpful foryou.

Here is a website for Centrelink to ask them:

Humanservices.gov.au/online

Here is an Australian phone number: 131673.  It is for International  Services for Centrelink

I hope that helps you. 

Please let us know how it goes for you if you do contact them.

Hi yes there is no problem with getting the pension. The amount you get is subject to the working life rule. If you have worked 35 years in Oz you get the full amount less some supplements.  If you are married you get half the married rate which is less than the single rate (go figure).

I have a friend here who has been here a long time and he tells me that they have stopped giving him the twice yearly indexation.

That is my question. Can they do this because I can find nothing on the centrelink website about this?

Hi there,

I'm not sure I understand about indexation. 

What is it exactly?

aceyducey56 wrote:

I'm not sure I understand about indexation. 
What is it exactly?

There ismt any "exactly"   because each country can decide how they count,  but normaly they count the change related to an index as the inflation or "basic products" part of it.
E g if inflation went up 2 percent, then they raise the retirement 2 percent
if its exact relation they have decided.

Hi In the case of Australia the age pension is increased twice a year in March and September in line with cost of living increases in Oz.

hello Rex
I am still getting my  increases every 6 months and l have been here 3 years.
regards  Bruce

Thanks Bruce good to hear.

@Rex71

@coach53

OMO gerry but I am with Westpac and Suncorp.

Westpac never give me any trouble transferring 1,000 or 200,000 Aussie dollars to my bank or creditors here. Property, living etc.

Suncorp is investment and free to transfer funds to Westpac. Westpac is around .01 to .012 below the bench mark exchange rate so like today the exchange rate is 39.2 so I would get 39.1 to 39.18 exchange and an AU 5 dollar fee for the joy of the transaction.

I don't draw a pension as the AU government will never give me one even after 45 years paying tax.  Aside in a few years when I decide to draw a pension from my superannuation it will be paid into my Australian bank account and I will draw under the same as above.

Seems the banks I mentioned are working for me, go talk to them.

Cheers, Steve.

@gerryasawa9

I've had a Commonwealth bank account for years, not lived in Australia since 1997. I keep a credit card and pay annual fee, which may influence their attitude toward my being non-Australian resident. It may be hard to open an Oz account while you're away, so suggest you open with an Australian address? Just guessing.

Yep, research gerry, google will be your best friend, yes I have Westpac debit and credit cards as well as Amex but don't bother as I have had a bank account/s here for 10 years or more, as most here will tell you, cash is king.

A pension for me? Apparently I worked too hard and have too much money in the banks as well as assets even after 45 years paying taxes,,,,,, lots and unless I blow my hard earnt dollars on frivolous junk like a new Bentley GT and a property in the south of Spain? Even then I will be denied.

have super but don't need, my kids will get that I think unless I buy a Bentley GT.

OMO.

Cheers, Steve.

LMAO, what are you trying to sell/gain here Hack Market, you think the members here are stupid?

Scamming rings a bell.

Cheers, Steve

LMAO, what are you trying to sell/gain here Hack Market, you think the members here are stupid?
Scamming rings a bell.

Cheers, Steve
-@bigpearl

Forrest Gump: "Stupid is as stupid does"

(My apologies to Steve for the bold type.)

LOL. Bob I'm surprised this jokers post hasn't been taken down by a moderator yet.

Your bold typing was friendly this time, not shouting.

As Forest said, "Life is like a box of chocolates, you never know what you are going to get".

Cheers, Steve.

LOL. Bob I'm surprised this jokers post hasn't been taken down by a moderator yet.

Cheers, Steve.
-@bigpearl

This forum has member moderators, on the other hand Cheryl who is a official moderator has a busy time as she overlooks 225 different forums.

So she must be busy putting out a fire somewhere else on Expat.com

I suppose it matters little really Bob as while it sits on a few posts, legitimate members here have a first hand experience with scammers and fraudsters.

As manwonder states "freedom".

OMO.

Cheers, Steve.