Thank you for sharing your thoughts! 😊 It’s a sentiment shared by many-traveling or moving overseas should not result in penalties, especially when the cost of living in Australia can be prohibitively high for some retirees. Hopefully, discussions around this will lead to more flexibility and fairness in the system for those who need it. 🌍💡

@@OZRuiShi it should be mentioned loud and clear during this election

Thank you for sharing your insights! 😊Bringing your boarding passes upon returning is a great tip, as it helps prove your travel dates and ensure there are no issues with re-establishing residency for the pension. Your experience is incredibly valuable for others in similar situations. Thanks for sharing, and I’m glad the video was helpful! 🌟✈️

Thank you so much! 😊 I'm glad you found the information helpful.

Thank you so much for your kind words! 😊 I’m really glad you found the information helpful. However, I’m unable to provide personalised services or direct assistance with applications, as I am no longer a licensed financial adviser. Thanks again for your support, and best of luck with your retirement planning! 🌟

You're very welcome! 😊 I'm glad you found the information interesting.

Thank you so much for subscribing! 😊 Regarding your situation, if you’re renting out your apartment while living overseas, Centrelink will treat the rental income as assessable income for the Age Pension income test. This could affect your pension payment, as the income you receive from renting out the property may reduce your pension eligibility. For personalized advice, I recommend contacting Centrelink to understand the specific implications for your pension in this scenario. Hope that helps! 🙏🌏

@ Salamat Po 🙏

I think it's possible that Australia may eventually form a social security agreement with countries like Thailand in the future, but it depends on various political, economic, and diplomatic factors. Keep an eye on any developments in international relations, as policies could change over time. 🌏😊

@ is it in any way beneficial for Australia to pay a pension in retirement in Thailand ? Maybe less pressure on the healthcare side of things as we age ?? Can you think of anything else ?? By the way a very well put together and straightforward explanation on something that’s going to affect us all eventually

Thank you for sharing your thoughts! 😊 It's a common concern that the system doesn't always provide enough support for the average citizen at retirement, especially when considering the cost of living and changes in the economy. Many people feel that governments should do more to ensure a fair and livable retirement for all. Hopefully, future policy changes can address these concerns and create a system that works for everyone. 🌍💡

Great question! 😊 The 6-week rule for overseas travel applies to each individual trip you take. So if you travel for 5.5 weeks, return to Australia for one day, and then travel again for another 5.5 weeks, each trip would be assessed separately. You would not be penalized for staying overseas for two separate periods of 5.5 weeks, as long as each individual trip is less than 6 weeks. However, it’s important to ensure that you maintain your Australian residency status and inform Centrelink of your travel plans. As always, for clarity regarding your specific situation, it's best to check directly with Centrelink. 🌏✈️😊

Thank you for your comment! 😊 I’m glad you found the video informative. Regarding your question about Medicare, check out this article for details: atlaswealth.com/news/medicare-for-australian-citizens-living-and-working-overseas/

Thank you so much for your kind words! 😊 I'm thrilled you found the presentation helpful. Your support means a lot! 🌟

Thank you for sharing your perspective! 😊 It’s an interesting point to consider-applying GST or similar taxes to funds taken overseas, including pensions, would certainly be a major policy change. It could impact how pensions are treated for those living abroad and raise questions about fairness and the global movement of money. It's always valuable to discuss these ideas, as they could influence future policy discussions. 🌍💡

@@OZRuiShi When people spend money overseas, they are "consuming Australia's wealth." If this is the government pension, it means it is shrinking Australia's economy, and the Pension people still demand to come back to Australia for our "free health" that they are no longer contributing to. Asking for a 10% contribution back to the Australian to retain this right is really a good deal for them and a poor deal for Australia, but better than nothing.

Thank you for sharing your thoughts! 😊 It's true that the system can feel frustrating for people who have worked hard, paid taxes, and invested in property. The eligibility for the Age Pension is based on strict criteria like income, assets, and residency, and this can create challenges for those who have built wealth through investments. It’s an ongoing discussion about fairness and equity in the system. Hopefully, there will be more balance in the future. 🌏💡

You are very welcome! 😊 Thanks for the super thanks!

Hi there, I don’t currently have a video on the PSS defined benefit scheme, but I’m planning one on defined benefit scheme. Feel free to share your questions or aspects of it you’d like covered, and I’ll do my best to include them! 🌟

Hi! 😊 I am based in Sydney, but I no longer provide private retirement planning advice, as I now focus on creating educational content to help a broader audience.

Thank you so much! 😊 I’m glad you found the video detailed yet easy to understand-that’s exactly what I aim for! 🌟

I am using Canva for those 😊

@@OZRuiShithanks. I will look it up

Simple fly back and show them your alive

Thank you so much! 😊 I'm so glad you enjoyed the presentation. Your support means a lot! 🌟

India, Japan and Korea! 😊 www.servicesaustralia.gov.au/international-social-security-agreements-between-australia-and-countries-asia?context=22476

Hi Brett, thanks for your kind words-I'm glad you found the video helpful! 😊 This particular video doesn’t have an Excel worksheet, but some of my other Age Pension videos do. Feel free to check out my channel for those videos or visit my Gumroad page to see which ones might interest you. ruishi.gumroad.com/

Hi there, 😊please check out this video for a comprehensive answer: ►An Easy Guide to Australian Age Pension kzbin.info/www/bejne/aKaygKF3ebhoqq8&ab_channel=RuiShi

Thanks for your question! The answer depends on many factors, so I’ll cover this topic in detail in a future video. In the meantime, please check out this page for more information: guides.dss.gov.au/social-security-guide/4/6/3/90

Thank you so much! ❤ I’m glad you enjoyed the video. I’m based in Sydney, but I’m no longer a practising financial planner-I now focus on financial education to help more people. 😊

Thank you for your questions! Here’s some information that might help: 1. Returning to Australia at 66: If you return to Australia at age 66 and stay for 2 years, you would meet the residency requirement to qualify for portability at age 68, assuming you apply for the Age Pension at age 67 and remain eligible under other criteria. 2. Taking holidays during the 2-year period: During the 2-year waiting period, short trips overseas are generally allowed without resetting the residency clock. However, your pension payments will likely pause while you are overseas. You won’t need to reapply for the pension after returning from these trips. Unfortunately, I cannot confirm the exact duration or frequency of these trips, as I couldn’t find a specific reference. I recommend checking the Social Security Guide for more detailed information. guides.dss.gov.au/social-security-guide/7/1/4 For individual circumstances, always check directly with Centrelink to ensure you have the most accurate and up-to-date information. Hope this helps.😊

Thank you for sharing your thoughts! The pension portability rules can indeed feel restrictive for many, especially when compared to the flexibility enjoyed by others in different circumstances. It’s a sentiment shared by many who see parallels with Australia’s historical roots. I appreciate your engagement with the presentation-it’s a complex topic worth discussing further. 😊

yes@@OZRuiShi as you can sense from immense frustration in these long list of comments, we should ALL make sure the politicians know about this unfairness now there is an election on the way !

Thank you so much for your kind words! 😊 I’m thrilled you found the video helpful. Your support means a lot! ♥

You’re absolutely correct! 😊 If you are living overseas, you can return to Australia at the age of 65 or later, reside here for two continuous years, and then apply for the Age Pension. Once your application is approved, the pension becomes portable, meaning you can notify Centrelink and move back overseas while continuing to receive payments. Just remember to maintain your residency status during the two-year period and ensure your plans comply with Centrelink’s rules. Thanks for sharing this helpful insight! 🌏✨

Hi there, according to the Social Security Guide: Payment may be suspended for short overseas absences during the 2-year period and does not have to be reclaimed on return to Australia. A short absence from Australia (as long as the person is still classed as an Australian resident) will not impact on the end date of the 2-year period (that is, the absence still counts towards the person's 2-year period). Hope this helps!

Thank you for your kind comment! 😊 I’m glad you found the information helpful. Your suggestion about working while receiving the pension is excellent-I’ll keep that in mind for a future video. In the meantime, here’s some quick information about the Work Bonus: - You can earn up to $300 per fortnight from employment or self-employment without it being counted under the income test. - If you don’t use the full $300 in a fortnight, the unused amount accumulates in your Work Bonus balance (up to a maximum of $7,800). - From December 2022, eligible pensioners also received a one-off $4,000 opening balance, bringing the total potential Work Bonus balance to $11,800. This makes it easier to do casual or part-time work without impacting your pension. Thanks again for bringing this up, and I’ll keep your video suggestion in mind! 🌟😊

Thank you for your feedback and for sharing your experience! 😊 You’re absolutely right-if someone wants their pension to be portable from the moment it’s granted, they must have lived in Australia for at least two years prior to applying. Short-term overseas travel is allowed during this time, as long as they maintain their residency under Centrelink rules. It’s great to hear the process worked smoothly for you. Thanks again for highlighting this important detail! 🌟🌏

Yes, this information applies to both permanent residents and citizens, as long as they meet the eligibility criteria for the Age Pension. 😊🌟

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You are very welcome! I’m glad you found the video informative and concise. Your support means a lot! 🌟