Australian aged pensions: Maybe no longer payable to Brits who return to UK??

[Erebus]

I think I may have just read on the Australian govt website that Aus no longer has an agreement with the UK re pensions?

Does that mean that if you lived and worked in Oz for 10 years (as a permanent resident) then returned to the UK, you wouldn't be eligible for any old age pension payable by the Australian government despite having paid your NI equivalent over those 10 years? Have I understood that correctly??!

I thought you could only get the uk pension if you have been paying UK NI? Hence why you get a letter if you stop paying UK ni asking if you wish to continue? Also if an aged parent comes to Australia their pension is frozen at the point they come to aus and no longer index linked.

None of us will be getting a pension anywhere by the time we are due to retire, I wouldn't sweat it.

I'm 50 so I stand a slightly higher chance than someone who's, say, 23!

We don't pay NI in Australia like you do in the UK.
Employers have to pay into a superannuation (pension) fund on your behalf and you can contribute to that above what your employer pays. Australian pensions are means tested.
If you have lived and worked in Australia you need to check where your super is and then you could move it to a UK pension fund.

I'm going through he reverse process of moving UK pension to my Australian super.

This is the downside to moving countries. DH and I have a super fund in Aus and now a pension fund in the UK. We've checked and we can move our UK fund to Aus when we return there so we are both contributing (along with employer) as it makes sense.

With only 10 years of paying taxes those Erebus I don't think you'd get much of a pension and with the Aussie dollar always being so crap against the pound you'd get even less!

this graph shows that the Aussie dollar is doing pretty well against the £! I'm definitely keeping any investments I had back in Oz there for the time being!

And, tbf, a 10+ year investment into their 'NI' equivalent is 2/7 of a lifetime's, workwise (assuming you need 35 years of input to secure a full pension, here, now), and DH's 17 (ish) years is half a working lifetime's- so hardly 'insignificant'!

Thanks for yours, too, hazchem. My super is bound up with QSuper, the huge Queensland Govt public employees scheme, and a smaller fund I was only in for a year. I have kept tabs on both.

Although you were government employee, that is an indepedent Super fund owned by its members.
You will be eligible to a lump sum and / or annuity based on your contributions plus return on investments
This is quite independent of the Australian government and you will be eligible
Contact your old funds to find out at what age

www.humanservices.gov.au/customer/services/centrelink/age-pension
This site explains aus pensions. Unlike the uk there isn't really a scheme where by you may into a government aged pension scheme. It is means and residency assessed at pension age. In other words nothing is deducted from your wages to "pay into" a government pension. Except income tax :0) means testing applies as does residency. Ten years is the minimum to claim and must be resident when you claim.
You can move your q super over to the uk to add to a new private pension fund.

www.humanservices.gov.au/customer/services/centrelink/age-pension
This site explains aus pensions. Unlike the uk there isn't really a scheme where by you may into a government aged pension scheme. It is means and residency assessed at pension age. In other words nothing is deducted from your wages to "pay into" a government pension. Except income tax :0) means testing applies as does residency. Ten years is the minimum to claim and must be resident when you claim.
You can move your q super over to the uk to add to a new private pension fund.

Erebus It might be useful to add your small fund to your larger fund as you will be paying fees on the smaller fund. If you are not putting money into the fund the fees will be eating up your equity and you are paying two lots. In fact even the big one if your not paying in every month then you are having your equity eaten up.

Also if you did any casual work at all do a lost super search very quick

I fear the Aussie dollar will start loosing quite soon.