Guest James

Credits To State Pension In England

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    Guest James

    Hi does anyone know if you can voluntarily credit your state pension in England, whilset here, not sure how may qualifying years you need but it must be atlaest 20 I am sure and i think I only have 16. I do not wnat to loose the pension rights there

     

    Thanks

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    Hi does anyone know if you can voluntarily credit your state pension in England, whilset here, not sure how may qualifying years you need but it must be atlaest 20 I am sure and i think I only have 16. I do not wnat to loose the pension rights there

     

    Thanks

     

     

    Hi James

     

     

    You won't actually lose what you have accrued thus far and yes it is possible to top up.

     

    These previous threads should help you http://www.pomsinadelaide.com/forum/money-finance/12333-backdating-ni-contributions-uk-state-pension.html

     

    http://www.pomsinadelaide.com/forum/money-finance/12333-backdating-ni-contributions-uk-state-pension.html

     

     

    Regards

     

    Andy

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    Guest James

    Next time I may ask advise about how much private pension you need to save here to have a decent lifestyle, someone told me $400,000 pot to retire on a decents standard of living, cannot believe I can manage that in 20 years!

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    Guest James

    Spoke to Newcastle last night you can voluntarily contribute up to 6 years whilst out here. It is only at basic level though. 30 years to get full English one but apparently you get a percentage if you have done less ie after ten years you would get 33% if you do no more years in Engalnd before you retire. I hope that helps some other folk

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    Guest James

    How much do you need here to have in super to retire in ok conditions, does anyone know?

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    How much do you need here to have in super to retire in ok conditions, does anyone know?

     

     

    Hi James

     

    That really does depend on a number of factors, things like:

    • Anticipated retirement age;
    • Amount required in retirement (one persons opinion of comfortable may completely differ to someone elses);
    • Whether state benefits should be taken into account i.e Oz and UK;
    • If looking to include Oz Age Pension how much in assets held outside of Super (as is means tested);

    The difference to the final retirement balance due to the above points could easily range between $250,000 - $1,000,000!!!

     

    Check out this Government website https://www.moneysmart.gov.au/tools-and-resources/calculators-and-tools/retirement-planner there are some retirement planning calculators that can be quite useful as a guide.

     

     

    Regards

     

    Andy

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