WARNING: Distressing content. As there is no social security agreement between Australia and China, Trevor must return to Australia to make a claim for the Age Pension. After submitting his claim in Australia, Trever returns to China to get his things in order in preparation for receiving the Age Pension overseas. "After six weeks overseas, your Age Pension will switch to the 'outside Australia rate'," Janet notes. If you remain outside Australia for longer than 26 weeks, your pension will be reduced to a proportional rate based on your ‘Australian working life residence’. The dream of a blissful new life in LA has quickly turned into a nightmare for the Duke and Duchess, who relatives say have gone “worryingly quiet”. However, it’s unlikely that your pension provider will pay your pension money into an overseas bank account – or least not without charging you a fee to do so. However, if you returned to reside in Australia within the last two years and were transferred to or granted an Age Pension within that time, your pension will be stopped when you go overseas. Find out more about claiming your state pension abroad. Will only be shown once. If you live in a country that doesn’t have a double taxation agreement with the UK, you might have to pay tax in both countries.
After 26 weeks out of Australia, Trevor’s Age Pension amount is paid to him at a proportional rate based on an AWLR of 27 years. However, Ms Nistend says there are some things you need to be aware of. Case study 2 Olivia has been living in Australia for 45 years. If you live part of the year abroad You must choose which country you want your pension to be paid in. If, however, you migrated to Australia during your adult life or spent a substantial proportion of your adult life overseas, a move overseas may mean that your Age Pension amount is reduced after you've been gone for 26 weeks.". It’s a confusing situation, since all applicants are considered on a case by case basis. If you arrange to be paid by cheque, the cheques will be in local currency for most countries, or in US dollars.
UK pension providers won’t usually let you draw down into an overseas bank account. Therefore, if Trevor leaves Australia within two years of being granted the age pension, he will lose the eligibility for the payment and will then need to re-apply upon returning to Australia. You could: If you leave your pension in the UK, your options for how you take the pension will be the same as if you’re living in the UK. For example, if you have, say 20 years of Working Life Residency, then you'll be entitled to 20/35ths of your current Age Pension after 26 weeks.".