national insurance and tax
Hi, When moving to Australia permanantly what happens to the National Insurance contributions and Tax that you have paid over the years? Me and my Wife have both been in full time employment since we left school, therefore working for 13 years each. Is there anyway this can get tranferred or does the goverment just keep it?
Any advice would be appreciated.
Jason & Caroline
GOT THE VISA 27/07/2009 ARRIVED ADELAIDE 05/10/09
Hi, i should be able to answer this one for ou as i have just been on a finance and pensions presentation.
Originally Posted by jimdundee
As far as i can remember the Government keep this until such time as you reach retirement age and claim your pension. I think if you have contributed for 28 years (i think) then when you finally retire you get a 100% state pension. Anything less than that then you receive a pro rata pension based on how many years you have contributed. I would have only contributed for 24 years and would receive a 90% pension. I can however continue to contribute for another 4 years even though i will be living in Oz. You should be able to find out more via the internet.
I keep getting requests from the uk to catch up on National Insurance payments , you can keep paying to keep up to date , but is it going to be worth anything anyway..??, can remember an old post .....someone had been paying there NI from here (oz)for 2 years they went back to the uk, and had to have some kind of treatment and they were charged .........so stoped their payments on return to oz.