Retirement and Living Overseas

Many Aussies want to retire overseas to experience a more comfortable lifestyle at lower costs. And that very often takes place when people are approaching retirement.
That might seem like a great idea, and it could be, it could provide you with a more affordable lifestyle than in Australia, as long as you plan it all well in advance.
Before you go anywhere, first you need to make some solid decisions about:
• your savings
• your superannuation or retirement income stream -
You should ask yourself the following questions:
Do I leave money in Australia or take it with me? What about taxes? Will I pay tax to Australian government as well as the other country I want to relocate to? If yes, how can I avoid it? What about my income, how should it be structured? What about my Estate Planning? which country has right to my estate? How can I protect the estate for my kids that are in Australia? or maybe your kids are in the other country, what happens then?
• your Age Pension if you want to be receiving this entitlement while living overseas.
What is the most popular destination for retirees?
What are the main reasons to retire abroad?
What about Age Pension?
What is proportional rate of Age Pension payments?
To download the book 12 PRINCIPLES OF INVESTING:
ebook.aboutretirement.com.au/...
Contact details:
Katherine Isbrandt of About Retirement
Website: aboutretirement.com.au/
Email: [e-mail]
Or connect with me:
katherineisb...
/ katherineisbrandt
/ katherineisbrandt
www.pinterest.com.au/katherin...
FSG: aboutretirement.com.au/wp-con...
My Adviser Profile: aboutretirement.com.au/wp-con...
#KatherineIsbrandt #AboutRetirement

[@boothie2023]

Thanks Katherine I live in Thailand and it cost me $1,300 Aud per month to live here with my wife and Daughter which is far cheaper than Australia to live.

[@geofffletcher2539]

Thinking of retirement in philipines. Have travelled to philipines many times..I am on the aged pension for 5 years now..great video..thankyou .

[@Beamsontube]

I was so lucky to find you Katherine. I really needed someone to help me make the best of the money that finally fell into my lap. I never knew anything much about savings. Now you are teaching me and holding my hand to make the best of it. Thank you.

[@AboutRetirementTV]

Wonderful! I am so very happy my videos are helpful 😀

[@lauriehumphrey3541]

Thanks Katherine for all that information, and yes more good information is always helpful for what is needed for the journey ahead, so please keep up the good work you are doing. I remember what I was told many years ago that ( knowledge is no weight to carry.)

[@AboutRetirementTV]

Hi Laurie, I just love that saying, I've never heard that before, thank you for sharing 😀

[@agneskapipi8577]

Yes, need more information on this topic, please. Love all your videos. Very informative.

[@AboutRetirementTV]

Thank you Agnes 😀

[@helenzhao7234]

Yes, I would like to know more about retirement overseas. Really appreciate all your videos.

[@AboutRetirementTV]

Thank you Helen, do you have any particular issue in mind?

[@toulabradshaw3274]

YES YES YES!!!! Thanks Katherine great video! This is exactly the topic we are most interested in!!

[@AboutRetirementTV]

So happy you enjoyed it. I might dig into this topic dipper over time 😀

[@tonyhiggins8503]

Yes please

[@lydiakiparisi1557]

Yes please Katherine! More planning overseas!

[@annieyip2176]

Yes more videos please, your videos are excellent.

[@-MacCat-]

We're slowly watching all of your videos, which are all intersting and useful. But as rules and reqirements change an updated view on this topic would be greatly appreciated. Here's hoping you are well on the mend and that the festive season is treating you well.

[@paulrosewarne9169]

I have been a subscriber to International Living Magazine for some time and there is also an Australian version. Lots of useful information. It looks and is presented in glowing terms. I have visited many countries that are covered and it never really matches the stories in the magazine. There are always pluses and minuses . Usually the costs are higher than you expect . The Australian dollar has a poor exchange rate atm and doesn't go as far as you would like and if it tanks you could be in a world of hurt! Still l would love to spend more time in Italy and Spain. Not much chance that happening in the current situation and doubtful we will ever get back to how it was prior to covid. cheers

[@AboutRetirementTV]

Hi Paul, yes, I do know this magazine, lots of great info, but every information needs to be taken with a doze of caution, still very helpful

[@michaelmccormick1297]

YES Please more videos about retiring overseas

[@jeffedwards5028]

Yes, please tell me more about retiring overseas and my age pension. Thankyou

[@melissagorgeous16]

Yes please Katherine.

[@naturalexplorer]

Your videos are excellent way of coming to much better understand the complexities of the age pension. The huge variations involved depending upon life circumstances. Thank you for these. Would like to mention that I am definitely interested in videos that explain the International Service Agreements that exist between Australia and other countries. I have been looking into this and would like your perspectives. There are currently 33 countries with these agreements so the pros and cons of these offerings would be really interesting. Thank You.

[@AboutRetirementTV]

good idea 😀

[@Robyn19fnq]

Thanks Katherine, and you've given me food for thought. Although I am in love with Thailand and want to go back there for an extended holiday, my logistical side says ... wait a minute! My husband is happy to just go, and practicalities be damned, because he can play golf every day. I am the one who says "how much is this/that?" or, more importantly, what am I going to do every day?" (I hate golf) We don't have a large super amount, and I'm not sure yet whether I'll receive the age pension, though I've applied. It's beginning to be a sore point in our household. Grrrrr ...

[@ChristinaPavalache]

Very interested in this topic!

[@njayesinghe]

Yes more videos on overseas recruitment pit falls

[@peteradams595]

Yes. This is my plan and I have been planning and investigating now for several years. It is a topic many avoid because there are many grey area's as with every situation " It Depends".

[@AboutRetirementTV]

Thank you Peter, it surprises me how little information is available, but keep in mind that every country has different rules, this is why this area can be pretty complex.

[@peteradams595]

@@AboutRetirementTV it's complex due to the lack of rules from centerlink for those that want to retire overseas prior to retirement age. The only ruling is you will be accessed if centerlink deam you to be an Australian resident or not. Their accessment, not your own

[@smarttams]

Yes please thank you

[@jacquelinegratton2992]

Yes 😊

[@aussiebicolanalifestyle]

Yes

[@crisbell484]

Yes!!!!

[@lydiakiparisi1557]

Yes please 😊

[@wellysalim1610]

Yes please

[@padraig4944]

yes

[@lmac1780]

Yes please ! :)

[@AboutRetirementTV]

Hi, do you have specific plans or in a research stage?

[@lmac1780]

@@AboutRetirementTVno real plans yet but looking at options.

[@sinisakukor304]

Please Yes to more informations about preparations to move overseas to countries which Australia has an agreement. In our case Croatia.

[@AllAboutLifeInThailand]

I have lived in Thailand since 2012. I would of course receive the full pension if I still lived in Australia, but, since I worked for 20 years in the USA and Europe, I did not have the full complement of working years, so on moving to Thailand, my pension was cut buy 1/3.

[@plambable]

Yes Please Katherine, I will be very interested in learning more about retirement overseas. Specifically in this video you mentioned many popular countries for retirees to move to. Can you explain which of these have the arrangements with the Australian government to pay pensions and what exactly does this mean? Thanks PhilL

[@AboutRetirementTV]

Hi Phil, I think it is time to visit those beautiful overseas countries again one by one. I need to create a new video, as there is a very big interest in this topic. Thanks for the suggestion.

[@minimalliving8648]

it would be nice to know more about the age pension and health cover management while being silver nomad who travels long term like 2-3 years

[@michaelgunning4844]

Hey Katherine, I`ve enjoyed your videos, How long in advance do I need to plan all the things you mention if retiring overseas? (Spain/Mexico most likely.) thanks

[@AboutRetirementTV]

Hi Michael, the more time you give for your preparation the better, but most certainly more than a year is needed to find out all the info, go through the legal stuff, set up your finances. Also, Mexico and Spain are under a different agreements with Australia, so requirements and steps you will need to take will be so very different. Do your research first to decide on a country and then dive deep into the one of your choice. I hope this helps

[@Christine-dr1mi]

Hi Katherine, I am excited to find your channel and thank you for all useful information about retirement! YES for retirement oversea topic. I am a New Zealand citizen(live there for 4 years) and moved to Australia in 2000. I work here for about 21 years. If I can't pass the asset test here in Australia, can I get pension in NZ when I reach the retirement age? Thank you so much!

[@AboutRetirementTV]

Hi Christine, I am so glad you found my channel. My understanding is that as NZ citizen you would be eligible for the Age Pension there, but you really need to confirm this with the Social Security office in NZ.

[@raymondchow9010]

Hi Christine , I am a Kiwi living here for 16 years, because of asset test and working younger wife , my part pension if I do qualify will be minimum in Australia. Was it possible to get NZ pension and how do we apply. Cheers

[@ahpaint]

Interesting thanking you , I will be living oversea. Philippines or Thailand, Malaysia was on the list but after some extreme changes in Visa requirements that will now be at the bottom of most lists. No pension, if I was a politician maybe yes.... tongue in cheek again.

[@AboutRetirementTV]

ha, ha - thanks Alan, are you searching for other options (countries)?

[@ahpaint]

@@AboutRetirementTV Katherine hi, no i have settled on Philippines in retirement (at present an expat ) due to the Visa requirements and Language it has taken a long time (10 years ) to get to here with various governments making changes that seem only to create barriers the latest being Malaysia. It takes time to set up a solid retirement strategy and shouldn't be decided on a whim....... as with everything a plan and a good deal of luck required......

[@tigerooFB]

Yes, please elaborate on retiring overseas. Can you please explain about retiring in country that doesn't have reciprocal arrangement e.g Bangladesh.

[@AboutRetirementTV]

Each country is different and agreements with Australia vary. to cover this, I would have to do country by country, which makes it a very difficult task indeed. I will be elaborating on overseas leaving in time if I see a real need for it in messages left here for me.

[@learningsfromgarden4669]

Yes yes

[@AboutRetirementTV]

That's a double yes 😀

[@Bizzle-yn5vb]

Yes yes yes

[@AboutRetirementTV]

That's a triple YES, I think I will have to continue with this subject a bit 😀😆

[@oldmanJ]

Thankyou for your advice Katherine as I have been living in Thailand for 6 years with my wife and daughter,I lived 57 years in Australia but fear the rules will change by the time I'm eligible for the OAP support.WHY is it such a difficult task to apply for?

[@-xyz-012]

Great info, thanks. Question if you’ve lived in Australia for over 50 years and move overseas, can you still apply for the age pension while your overseas, or do you have to come back to do so? Do you need to come back to Australia regularly to remain eligible? Or can you stay away for 10-15 years? Do you need to keep property here to remain eligible as a citizen?

[@AboutRetirementTV]

Hello and thank you for watching my video. The simple answer to you questions is - it depends on the country you decide to move to and if there is an agreement between that country and Australia. Watch my other video on that topic that can help you more: kzbin.info/www/bejne/d6fOm2RtiLGpg5o if you have more questions, then contact me to discuss in more details.

[@chrisj6321]

Im hoping to have enough in super to buy a summer apartment in the UK and follow the sun

[@AboutRetirementTV]

Wishing you all the best Chris

[@darrylgray7213]

Hi I enjoy your videos thanks so much. I have retired overseas at 60 but worked in Australia for more than 40 years. I understand there is a requirement to be back in Australia for 2 years prior to applying for the Age Pension, is this correct and can you explain the requirements. Thanks

[@AboutRetirementTV]

Hi Darryl, thank you for watching and you question. unless you are in a country that has a social security agreement with Australia, you will need to return to Australia to apply for Age Pension and stay here for 2 years (residency rules), before heading away again. I hope this helps

[@chrisj6321]

If you keep an Australian base does it matter if that long holiday turns into 2 or 3 years. You dont need to go to the post office to receive it do you it just gets paid into your account?

[@AboutRetirementTV]

Hi Chris, as per my explanation in the video about Age Pension and what happens to payments if you stay longer, your pension payments will be adjusted as time progresses. Yes, your payments are paid to your Australian Bank account.

[@mauricioalcayaga1833]

Yes please, Katherine specially for people with low super and wanted to retired in the Philippines. Will I be obligated to have my residency in Australia because Philippines hasn't an agreement with OZ??

[@renealferez8137]

Thanks Katherine, love this topic..before I migrated to Australia in 1994. I had worked in the Philippines for several years and because of that reaching on my 60 of age I will be getting a Philippine pension. I want to know if its impacted my future age pension here in Australia as I am also a dual citizen in both countries. How does affect my asset test?

[@Islandnan]

Great topic. I’d love to retire in Bali however I think the Indonesian government has made a rule that you must put $200,000 Aud into an Indonesian Government owned bank Account and not touch it for 5 years or alternatively purchase property in order to be eligible for their retirement visa. 😢

[@jeffedwards5028]

Also, does Spain have an agreement with Australia in relation to receiving age pension. Thank you

[@AboutRetirementTV]

yes, Spain is one of the European countries that does have an agreement with Australia

[@jacquelinegratton2992]

Hi Catherine, is a resident the same as a citizen for the pension 35 year rule if you want to live overseas for a while. I ave been a resident for 30 years currently and a citizen for 15 years. Thanks

[@peteredghill8169]

Yes. Could I make an appointment with you concerning my financial situation.

[@AboutRetirementTV]

Hi Peter, the easiest way to organise a meeting with me is to call our office on 1300 274 731 or jump onto my calendar to book the time you wish: calendly.com/katherine-ar/60-minutes-online-discovery-meeting-clone-1

[@3mmgf976]

Hi Katherine, what's is the advantages of age pension versus disability support pension? Thanks for your very informative video.

[@AboutRetirementTV]

Oh, sorry I must have missed your message. There is no difference between the two, the same payments, the same means testing. Obviously for Age Pension you have to reach the required age to be eligible. while for the disability pension, you need to meet medical requirements.

[@3mmgf976]

@@AboutRetirementTV Hi Kath, a million thanks for the information & for your immediate reply...

[@bobjohnson3174]

Good morning and have some things to ask, firstly to apply for the pension at say at 67, you must have lived in Australia for 2 years, let's say from the age of 65 years old, then at 67 you apply and receive the pension. Now after that are you required to stay in Australia an additional 2 years ??? Then if you move overseas permanently, can it be somewhat questionable again about receiving the pension whilst living in another country even if you meet all the requirements. Very important questions, thanks to anybody in advance for informative answers.

[@aliciabahmardi981]

I’m so happy I found you THANK YOU I’m a 68yo Australian citizen living in the USA for the last 15 years and have a dual citizenship,,my question is am I entitled to receive age pension Thanks in advance for your kind reply and help Alisha

[@AboutRetirementTV]

Hi Alicia, thanks for watching my little channel all the way form the USA. Based on Australian rules, yes you are eligible to apply directly from the USA, no need to come back to Australia to place the the application. As long as you meet the Income and Assets Test, you may receive full of part Age Pension, depending on the outcome of those tests.

[@aliciabahmardi981]

@@AboutRetirementTV Can’t believe how quick you answer my question what an amazing job you are doing I’m deeply grateful and feel so lucky I found you please continue providing us with such VALUABLE help T H A N K Y O U

[@janlampert5688]

Is it 25 years or 35 years you have to live in Australia to be able to receive full pension overseas. I received information from Centrelink that it is 25 years. Did they increased the limit?

[@suphatrachaiyasit7531]

This is going to become very popular because people cannot pay rent on the old age pension example my rent is 1500 a month if I was on the old age pension I would be getting about 2000 a month

[@AboutRetirementTV]

Yes, it is tough to survive on Age Pension alone, so I agree. Wishing you all the best 😀

[@garyspeed8961]

Hi Katherine, I am an australian who is working and living in Vietnam for 18 years now.. i own an apartment here and very comfortable life with no desire to return to Australia... bu I have reached retirement age 4 years ago and do want to cut back on my own work here... I had given up any hope of receiving a pension from the Australian government without resettling in Australia... is this correct?

[@AboutRetirementTV]

Hi Gary, yes, this is correct, Vietnam has no social security agreement with Australia, therefore you would be required to return to Australia, apply while here, stay in Australia for 2 years and eventually then return to Vietnam, but be on call for Centrelink with any details they need from you.

[@bobwilson4195]

I came to Australia 1983 . And worked solid for them 30 year. I have reached retirement. I now live in the UK . I am An Australian citizen. Came came over this year to put a claim in for My Australian pension , how ever because am not living in the country just now , I was told Am not entitled to pension . , I think I am after paying 30 year. Claiming no benefits etc. I feel am getting ripped off.

[@elfieanna9271]

Thats crazy, why not? That sounds wrong, get this in writing.

[@christinaperham5113]

Great video. I want to retire in france, in 4 years. Before that I will buy a small appartment in france. I have Negligible super. I have a property with small mortgage, to rent when in france. Work part-time no dependants. Australian citizen. Would I be eligible for any pension?

[@AboutRetirementTV]

Christina, it is not that simple, as Centrelink works on exact numbers, so it is impossible for me to respond with any definitive answer.

[@stevepollard2169]

Dear Katherine as an australian resident moving overseas permanently later this year with only our Australian pension as income do we need to continue lodging tax returns.

[@AboutRetirementTV]

If Age Pension is your only income, then even if you are in Australia, you are no longer required to lodge tax returns.

[@brettandsamthailand]

I contacted Centrelink about taking my Pension to Thailand once I become eligible and they advised that I would either have to spend 2 years in Australia before or after I become eligible to take the Pension overseas. Does this sound correct? I currently live in Thailand but lived and worked in Australia for more than 35 years.

[@AboutRetirementTV]

Hi Brett, unfortunately yes, this is correct. Thailand does not have a social security agreement with Australia, hence to apply you need to return to Oz and stay here for 2 years to continue being eligible.

[@brettandsamthailand]

@@AboutRetirementTV Thank you. Your videos are very informative. Thank you very much for the information

[@linatenoso240]

Philippines

[@tungduong4947]

Vietnam

[@johnwelch461]

Thankyou so much ,l will b moving to Thailand ,have worked more than 35 year's and l know l will lose , some entitlements, will retire in 2 month's once l leave l will not come back, l have a wife there but she is not an Australian citizen plus she is only 51year's old ,do l need to tell them ? And still apply for the single pension ,Thank's again and hope you can help me with these other questions.

[@AboutRetirementTV]

Hi John, surprisingly Thailand does not have the International Social Agreement with Australia, so is under different rules. I am unable to answer your questions, because ....you guessed it:..It Depends", so email me for a private chat

[@johnwelch461]

@@AboutRetirementTV thankyou,l will.

[@anthony7091]

Hi John I have met other Australians here in Thailand that are married to Thais collective single pension. I have a friend that works for centrelink and mentioned this. She said they probably married in Thailand and because there’s no agreement can’t find out. Risky if they get caught. I married my Thai wife in Australia then moved to Thailand therefore no chance. Good luck in Thailand 🇹🇭

[@johnwelch461]

@@anthony7091 thank's just waiting to get my pension, l applied for what's called section 24 which allows me to get the single pension even though l was married there she is not an Australian citizen plus she is only 51yr's old..

[@anthony7091]

@@johnwelch461 wow. I did not know that. Fuel for thought. I have to wait another 9 years as am 58 atm. My Thai wife works in Thailand and she’s 46. Not a resident or citizen of Australia. Am wondering now if l can apply for single pension if l return to Australia for 2 years as required. Btw, Thailand is an amazing country to retire.

[@shailendrasinghthakur5467]

I would like to move back to India

[@normanhogermeer1177]

Dear Ms, I lived in Australia from 13 7 1971, to 2007, I worked for 22 years in that time. my permant vias and my absorbed persons visa was revoked and the Immigration department's rule of 501 deported me.15 years ago. Now I am 69.8 years old. Am I still eligible for to receive old age pension from Australia in India.

[@AboutRetirementTV]

Hi Norman, you might be eligible for part Australian Pension for years worked in Australia, while living in India. An you can apply directly from India. the payment will be subject to Income and Assets Test as per all applicants and then calculated based on number of years worked here. Worth trying an all the best

[@lmac1780]

I would really like to move to Poland

[@AboutRetirementTV]

Why Poland if I may ask?

[@chrisj6321]

i like Poland as well but now UK has left the eu eastern europe retirement might be off the list for me :(.

[@lmac1780]

@@AboutRetirementTV My husband is Polish, been there 3 times, people are nice, cost of living is great- more value for your $, close to other countries for travel. Very affordable lifestyle. Up in the mountains where the air is better is where I want to be. BTW, your videos are awesome. Love every single one of them. Thank you :)

[@AboutRetirementTV]

@L Mac So lovely to hear you say that, as I was born in Poland, so it really intrigued me

[@lmac1780]

@@AboutRetirementTV Whoa! Dzien dobry! jak sie masz? Please pardon the spelling. I'm really bad at it :). That's a nice surprise. Oh, my favourite cities are #1 - Krakow, Wroclaw, Warsaw is nice too. I like the old town. Not that you probably want to know but I thought I'd mention it. :)

[@ihsany8146]

9:50 if you dont want to waste your time with fluff information.

[@AboutRetirementTV]

Thank you Ihsan for this comment

[@uqvguerr]

One point thats often overlooked is that Centerlink advised me that Australian citizenship was completely irrelevant and that only residency was considered for aged pension. I left Australia age 55 to live in South America but I had lived in Australia from jan 1982 continuously as an Australian Citizen there and paid taxes 32 years and still have all my family there and returned there when 65 y old (was eligible age in 2016) thinking that i could return every 6 months for 2 years to get pension as they had stated on their website at the time (2015). They flatly refused to pay any pension on the grounds that i applied for residency in a South American country in 2011 . Now they have completely changed their website and they told me by phone that in fact you have to be a permanent resident and stay there and only short holidays abroad are allowed to maintain pension. Ironically I am surrounded by 100s USA, german, French ect expats getting aged pension. Reply

[@uqvguerr]

Unfortunately Australia is not able to support its older citizens abroad.

[@AboutRetirementTV]

So which country is your dream retirement destination? 🛫🛬

[@shanefthomas]

Hi Katherine, yes keep the living O/S on old age pension content comming, its a land of Miss information, particually because each individuals situation if unique. I,m 62 been out of Australia for a total of 22 years budget traverliing and have been to 111 countries. My low budget favorites to retire are Phillipines, Thailand, Columbia, Mexico, Indonesia. There are so many great countries to choose from. For a higher spend Turkey, Portugal and Greece. No one country is perfect so being a nomad is a great solution. Old age pension portabilty is a nightmare, not just the qualification but keeping the pension. There is a 2 year rule where you could reside in one of the 31 member countries 2 years before pension age, Or if granted the pension at age 67 and have not been in OZ 2 years prior, you must stay in Australia for 2 years to get portability. If you own one Australian home and live overseas for more than a year, it is suddenly counted as a asset and you loose your pension (Assumng typical .5M to 1M$ Home ) . This is higly restrictive, if you sell your home, then the cash is also a asset, eliminating the pension. There is a risky solution, Sell your home and within 12 months buying overseas, assuming you reside there your home is not counted as a asset just like in Australia. Would love to find out how to keep your Australian home and still be able to live overseas not having to return every 12 months????? Be aware if centerlink send your pension overseas it is at Comomwealth Bank rates--very poor, most will benifit greatly by getting paid into a Australian bank, and using a competitive transfer company like Wise ( previously Transferwise ) , you need to have Australian Internet banking set up and tested before you go. . It would be great to share some of the finner points, that really save you money and keep your pension. Thank you for a great channel, you have a real oppertunity to grow this Channnel with no competition.

[@AboutRetirementTV]

@@shanefthomas Hi Shane, you've left some of the most amazing comments here for us. If you managed to visit 111 countries on your low budget, you have done very well. And your travel experiences are worth more than any money can ever buy. Also, you have given me so many ideas for future videos, so I do have to thank you for it. and thank you for the encouragement. Take care wherever you are.

[@toulabradshaw3274]

We are looking at relocating to Greece!!

[@AboutRetirementTV]

@@toulabradshaw3274 stunning country and amazing food, love it

[@davidw9459]

Yes

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yes

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