Frozen Pensions

[Tony OMahony]

Hello Paul Swain

Today I delivered my letter to Julian Simmonds MP for Ryan (Qld), attached.

Ryan covers the western suburbs of Brisbane and is not technically a marginal but there is a strong Green presence incl a Green member for Qld parliament seat of Maiwar which is part of the Ryan electorate and their candidate could be in with a chance depending on preferences.

Feel free to use some or all of my text if you wish.

Aside: at the counter I received an attentive listening but got an attempted brush off with the claim that the government was "in caretaker mode" which I rebutted.

Sincerely

Tony O'Mahony

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Tony O'Mahony

[elizabeth Harvey]

Great letter Tony.  

However, I have a question regarding the frozen UK pensions, of which I am a receiver. I have never really understood how it would affect our Australian Pension if the UK pensions were "unfrozen" and we were given all future increases.  Will we be worse off or better off....?? 

Apologies for showing my ignorance but I would be grateful if someone could give me a simple answer. 

Many thanks

Elizabeth Harvey

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[Tony Phillips]

Excellent letter, Tony! I shall use it to try here in SA!

Tony Phillips

On 13 Apr 2022, at 6:56 pm, Tony OMahony <alpha...@gmail.com> wrote:



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[bow...@bigpond.net.au]

In reply to Elizabeth, yes we would be better off financially because when the Australian Pension system calculates your entitlement it takes only 50% of your UK pension into consideration.

 

That is the current system anyway.

 

Brian

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[Steve Symmons]

They drop your Australian pension 50c for every additional $1 income after the $90/week ($180/fb) threshold is reached (there is a different threshold of $150/wk-$300/fb for “earned” income).

So you will be 50c better off for every dollar increase (less any tax liability).

Better than a poke in the eye with a burnt stick 

But not as good as a system like the Brits that has no means or income test, when your only reduction is any income tax liability.

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[Tony OMahony]

Dear Elizabeth

No  need to apologise, taxation legislation is designed to deceive.

Basically:

• Aus pensions are calculated on either Assets (how rich you are) but excluding your home "place of residence" or
• Income

If you exceed the limits on either your pension gets reduced progressively until $0

Therefore your UK pension should be included in your Tax Return each year end. This is unlikely to affect your tax status as we old people get major concessions, aged rebate, which in most cases exceeds what income you may earn.

OK?

Regards

Tony

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Tony O'Mahony

[elizabeth Harvey]

Thank you.   Happy Easter.  

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[Bruce Englefield]

Indeed, happy Easter. 

Not only would an unfrozen pension make us better off financially it would also improve our mental health. Frustration over a morally corrupt injustice is a bad mental bedfellow. However, what chance of a change when the head of government can break the law and still keep his job as PM. Whatever happened to ‘An Englishman’s word is his bond’. My Australian citizenship is a matter of pride, my British citizenship is a matter of shame.

Regards

Dr Bruce Englefield OAM.

Sent from my iPad

On 14 Apr 2022, at 18:50, elizabeth Harvey <ourg...@aapt.net.au> wrote:



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[elizabeth Harvey]

Thanks everyone for answering my question  "will l be better or worse off"  ......  ..   that was a great help.

Elizabeth

Virus-free. www.avg.com

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[peter humphries]

You've got the wrong Peter Humphries! I'm in a group of about 6 Peter Humphries 4 of them in Aus. We are all getting on!

Cheers Pete

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[clive walford]

How many UK expats resident in OZ? how many of those are entitled to receive Oz age pension? I do not live in Oz but understood not all UK FPs can get Oz age pension? The campaign for parity for UK Pensions world is still the "ultimate" aim.   we are all aware that RA's are not required to uprate and withholding is done by secondary negative domestic legislation. the question is there how to get Regulation removed from the provisions within the pension act. the entitlement, (a right), basd on the contributions we make as within the Act.  a good legal rep is needed! cost etc.   would the Pandora" reporters group be persuaded to investigate this issue?

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[Leiv Bornecrantz]

There is no "Australian Age Pension" in contrast to all other OECD Countries.

However, there is what is in the UK called "Pension credits" which is given to those that have no other Pension or any Assets that can be sold to finance day to day activities. It is a "Benefit" - not a Pension. It is more liberal that the UK equivalent as monies can be earned above the nominal amount but it is no goldmine as monies will be deducted on a sliding scale.

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[Michael Skully]

The Australian government calls it an aged pension - see  https://www.servicesaustralia.gov.au/age-pension

Age Pension

The main income support payment for people who have reached Age Pension age.

To get this you must be all of the following:

• Age Pension age
• under the income and assets test limits
• an Australian resident, normally for at least 10 years.

Read the full conditions under who can get it.

Who can get it

To be eligible for Age Pension you must be Age Pension age and meet some other rules.

How much you can get

We use income and assets tests to work out how much Age Pension you get.

How to prepare to claim

There are several things to consider when you’re preparing to claim Age Pension.

How to claim

Complete the following steps to claim Age Pension. Before you start, check if you can get it.

How to manage your payment

Your options and obligations for Age Pension.

What other help is available

We have a range of other tools, information and services to help you manage your payment or get extra support.

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[elizabeth cardoo]

We , a couple get the Australian AGE PENSION. Not aPENSION CREDIT of $280 per fortnight each , considerably lower than the maximum rate. We also have our super drawdown that we paid voluntary contributions for 35 years as well as tax of course. Our frozen UK pension is paltry in spite having worked in UK for 20 years prior to moving to Oz. When I got the 12 months of back pension instead of 12 years worth and the monthly increase of roughly $150 per month, my OZ pension was reduced 😡. 

Not a happy chappy. 

Cheers

Elizabeth Cardoo

Sent from my iPhone

On 19 Apr 2022, at 9:08 am, 'Michael Skully' via BAPA <bapa...@googlegroups.com> wrote:



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[mary barber]

They only reduce oz pension  by half the uk one so you are better off the more uk pension you get

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From: 'elizabeth cardoo' via BAPA <bapa...@googlegroups.com>
Sent: Tuesday, April 19, 2022 9:16:25 AM
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[Leiv Bornecrantz]

If your "Age Pension" is dependent on Asset and Income Test, then it is not a Age pension, it is and Age Income Benefit.

Until John Howard and his "Conservatory" Government cancelled the Age Pension some time late 1900s or early 2000, one received an Old Age Pension, qualified through tax payments (Hansard)  in my case it was 25 years and later changed to 10 years probably to fit in with the theft of the accumulated Old Age Pension (essentially a financial crime) So my 45 years as an Australian Taxpayer counted for nothing unless I did not have enough to feed myself!

Because I left Australia shortly after my retirement , then my wifes 10 years as an Australian Taxpayer counted for nothing, I received only a married mans Old Age Pension Benefit and she got nothing as she lived with me in the UK where she turned 65 later. Australia has an agreement with the whole of the EU for the payments of Old Age Pensions except for Sweden and the UK. So I am Swedish and wife is British!

So do not trust anything that the Australian Government says or writes, in essence they are financial criminals!

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