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5 minutes ago, sceadugenga said:

Your status is that you can return to Australia and claim the Age Pension but you wont get portability for 2 years.

The amount of pension that will be paid overseas will also only be a percentage based on 35 years Australian Working Life Residency, for example if you only worked 25 years in Australia (Assumed to start at age 15) only 25/35 (as a percentage) is portable.

 

Thanks to all, much appreciated.

 

From 16th birthday to date of leaving Australia to work abroad I was in Australia full time for 37 years, so looks like I'm OK for the full pension and my assets and income are well under the threshold.

 

Just need to get the '2 years detention' (as another poster calls it) squared away.

 

Several weeks back I called Centrelink in Hobart and was lucky enough to speak to a pleasant very focused lady who advised there are no totally specific time blocks regarding the 2 years, but she suggested initially staying in OZ about 5 months then take a holiday for a maximum of 10 days, then 4 to 5 months / 10 days repeating.

 

She also mentioned it's advisable to be able to prove house ownership or a rental agreement for 12 months in my name. 

 

She also mentioned that I should apply for rent assistance a few days after lodging the OAP claim.

 

And comments or further advice very welcome, and thanks. 

 

 

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36 minutes ago, Peterw42 said:

Beyond those dates you are already at the current retirement age. 1945, you would 74 years old, way past any retirement age.

Correct.

 

It is a revised table as the first cohort from 1st July 1952 to 1st January 1954 are now all retired as well.

The increases are in blocks of 18 months.

 

The unfortunate thing is, anyone born in 1945, leaving the country in their fifties to work overseas and if only returning now in their mid 70's to apply for OAP, they will be caught up in the 2 year fiasco, though will be entitled to a full pension because of AWLR, If they left at 51.

 

We seem to be damned if we do; damned if we don't; basically.

Edited by UncleMhee
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24 minutes ago, UncleMhee said:

Correct.

 

It is a revised table as the first cohort from 1st July 1952 to 1st January 1954 are now all retired as well.

The increases are in blocks of 18 months.

 

The unfortunate thing is, anyone born in 1945, leaving the country in their fifties to work overseas and if only returning now in their mid 70's to apply for OAP, they will be caught up in the 2 year fiasco, though will be entitled to a full pension because of AWLR, If they left at 51.

 

We seem to be damned if we do; damned if we don't; basically.

 

24 minutes ago, UncleMhee said:

Correct.

 

It is a revised table as the first cohort from 1st July 1952 to 1st January 1954 are now all retired as well.

The increases are in blocks of 18 months.

 

The unfortunate thing is, anyone born in 1945, leaving the country in their fifties to work overseas and if only returning now in their mid 70's to apply for OAP, they will be caught up in the 2 year fiasco, though will be entitled to a full pension because of AWLR, If they left at 51.

 

We seem to be damned if we do; damned if we don't; basically.

Yes, my post above #3466. 

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4 hours ago, Peterw42 said:

Friend has been given incorrect information

What was the incorrect information that his friend was given?

 

3 hours ago, Peterw42 said:

Yes, thats the cash on hand thing, easy to get around that if the money is invested, stock market or similar (not liquid).

Actually money invested in stock market shares is classed as a liquid asset.

 

https://guides.dss.gov.au/guide-social-security-law/1/1/l/50

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7 hours ago, RJRS1301 said:

Depends on your year of birth, they set that out years ago.

Yes that's why it has been going up, I was all planed for 67 then they added. Another 6 months.

 

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29 minutes ago, nev said:

Yes that's why it has been going up, I was all planed for 67 then they added. Another 6 months.

 

Please show a link to this. There is no increase over 67 that I have seen. Refer to the chart above.

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3 hours ago, LosLobo said:

What was the incorrect information that his friend was given?

 

Actually money invested in stock market shares is classed as a liquid asset.

 

https://guides.dss.gov.au/guide-social-security-law/1/1/l/50

The guys friend was saying he was told he "couldnt get newstart until payout was spent", in reality he could ,just had to wait .

 

Yes, stock market is considered a liquid asset, I was more just trying to give an example of a non-liquid asset.

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4 hours ago, scorecard said:

 

Yes, my post above #3466. 

Yes @scorecard my response was intended for #3463, your particular situation and the possibly of 70+ year old returning to claim; having never claimed before. I hope it all goes well for you.

Edited by UncleMhee

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2 hours ago, UncleMhee said:

Yes @scorecard my response was intended for #3463, your particular situation and the possibly of 70+ year old returning to claim; having never claimed before. I hope it all goes well for you.

Thanks, are you aware of any specific negatives re applying at 70+. Just curiosity.  I've tried to search on this point but couldn't find anything.

Edited by scorecard

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5 hours ago, rhodie said:

Please show a link to this. There is no increase over 67 that I have seen. Refer to the chart above.

Hi mate, I heard a few years ago they was going to extend and maybe it didn't pass I hope so,  I have just doneba search and it seems I will recieve the pension at 66 years 8 months instead  of 67years 6 months the date I thought I was. 

I am very happy if that's true. 

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3 hours ago, Peterw42 said:

The guys friend was saying he was told he "couldnt get newstart until payout was spent", in reality he could ,just had to wait .

 

In fact the poster actually said "They wouldn't grant him payments because of his payout so he basically had to use his money before it started."

 

This is correct information and is in line with Newstart waiting time policy. 

 

Also Newstart waiting periods for redundancy are based on both Liquid Assets Waiting period (LAWP) and Income Maintenance Period (IMP) legislation.

 

Redundancy payments provide for a period of unemployment, leave credits etc. I doubt if you would get a Newstart payment when you already have been provided income for this period.

 

Transferring your after tax redundancy or ETP to superannution (rollovers are not permitted) may reduce your LAWP but not your IMP.

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2 hours ago, scorecard said:

Thanks, are you aware of any specific negatives re applying at 70+. Just curiosity.  I've tried to search on this point but couldn't find anything.

Edited 2 hours ago by scorecard

No, not that I'm aware of; other than what you are already aware of. If you meet the age and residency requirements, you are entitled to OAP. The amount is subject to income and assets test.

https://www.humanservices.gov.au/individuals/topics/income-test-pensions/30406

 

https://www.humanservices.gov.au/individuals/services/centrelink/age-pension/how-much-you-can-get/assets-test/assets#assetstestlimits

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1 hour ago, nev said:

Hi mate, I heard a few years ago they was going to extend and maybe it didn't pass I hope so,  I have just doneba search and it seems I will recieve the pension at 66 years 8 months instead  of 67years 6 months the date I thought I was. 

I am very happy if that's true. 

You're right - increasing the age to 70 never passed the Senate and they (the Libs) dropped the policy last year. 

https://www.abc.net.au/news/2018-09-05/scott-morrison-scraps-plans-to-raise-pension-age-to-70/10202678

 

They recently ruled it out again in relation to the 'review of Australia's retirement income system' they're about to conduct.  

https://thenewdaily.com.au/money/superannuation/2019/09/30/scott-morrison-retirement-review/

 

So whatever the tables tell you is your pension age, that's it: 

Quote
If you were born between  you qualify for Age Pension at age
1 July 1952 to 31 December 1953 65 years and 6 months
1 January 1954 to 30 June 1955 66 years
1 July 1955 to 31 December 1956 66 years and 6 months
From 1 January 1957 67 years

 

 

 

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14 hours ago, moojar said:

Thanks Cheynewalk, good to hear of people's actual recent experiences. 

 

Those Hobart folk seem quite decent the times I have spoken to them, not as ... confrontational as your average CL officer.  

 

Could your friend have gone on the dole (Newstart) under option 1 before reaching pension age?  Or not possible with the overseas travel? 

Newstart means mutual obligation restriction, must be actively seeking work. Allowed os for very limited time per year.

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On 11/23/2019 at 12:41 AM, RJRS1301 said:

Newstart means mutual obligation restriction, must be actively seeking work. Allowed os for very limited time per year.

All true. What that means in practice is that the person must apply for a number of jobs each month (usually 20) - which is easily done on-line these days - and attend 1-2 x 5 minute interviews per month at a Job Provider (which can be done over the phone if they agree).  Newstart people are allowed to leave the country for 4-5 weeks - payments stop while out of country and recommence when re-enter country. If newstart person leaves for more than about 6 weeks, their allowance is ceased and they have to re-apply for Newstart (usual conditions and waiting periods apply).

 

Edited by AussieBob18

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