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Veteran
Posts: 947
  
Location: living the dream in rouse hill sydney | hi ,what happens to the uk state pension once we move to oz , i know we can transfer our private pension etc are we entitled to anything from tha state as we both have paid taxes etc for last 22years , presume we are entitled to it somehow ?????? but as were on 457 do you have to wait until get residency ? | |
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| You will be entitled to a UK state pension at your UK state pension age, whether you are living in the UK or Australia. You should apply to The Pension Service (part of the Department of Works and Pensions) using form BR19 for a state pension forecast and to confirm when your pension is due to be paid.
A full state pension will be payable to you after contributing for 30 years. It will be worth enquiring about making voluntary contributions in order to top-up to 30 years contributions so you can receive a full state pension. Every little helps, as they say; Australian state pensions are means tested, whereas you will always have a UK state pension.
Your UK state pension will not increase in payment with cost of living rises as it would if you lived in the UK. Therefore, the pension you start with at retirement will be the pension paid throughout your retirement in Australia.
You cannot transfer your UK state pension fund to Australia, but state pension payments can be transferred to your Australian bank account in different ways.
The Pension Service can pay your pension direct to your Australian bank account or you could use an account with a currency dealer to help with currency exchange rates and cover bank charges. Currency exchange dealers offer special accounts for this purpose and this can be better than having a different exchange rate each time a payment is made for you by The Pension Service.
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uk state pension
