Retiring Overseas on an Australian Age Pension

[Banker]

We very much support the idea of Australians spending all or part of their retirement offshore - cost of living differences mean that they can potentially have a much more relaxed and enjoyable lifestyle. It's not for everyone - you need to factor in the impact of prolonged absences from family and lifelong friends - but it is certainly an option that is worthwhile considering. One significant factor for many people considering the possibility however is whether the Australian Age pension would be payable to them offshore.

The Australian Age Pension can be paid overseas permanently, with some estimates suggesting that more than 60,000 Australians are currently receiving their Age pension overseas. However, the rules in this area are both complicated and unclear in certain areas - particularly for current expatriates - and it is suggested you seek advice from both Centrelink and financial advisors regarding your entitlements. Much depends upon the detail of your situation, and we have just tried to present a short summary below:

Click on link for full story

www.ozexpats.com/content/australian-pension-overseas

[Banjo]

Ideally you need a few $$$ as well, sale of a house or from part ownership of a property.
Health insurance can be expensive and you really need a back up nest egg to cover emergencies.

A couple on pensions could do well, they could share rent on quite a nice house in surroundings that would be unthinkable in Australia.
I remember an Aussie mate asked me to go halves in a beach house on one of the better islands in the Philippines a few years back.
The price was unbelievably low and genuine beach front. Two story, practically brand new.
Of course I couldn't take it, being on the DSP, but he had no problems on a returned serviceman's pension.