Dwindling income from the UK

Hello - I thoroughly enjoy the newsletter - find it helpful and informative - THANKYOU !!! I wonder if yous or anyone reading the letter can advise me - I receive my Pension from the Uk - ( the Oz government does not recognise me as a pensioner - hence no benefits or concessions !)

When the exchange rate was around 40p for 1A$ - I managed quite well - but alas - my monthly income is dwindling more and more - now 60p for 1A$ - is this trend going to continue ? How far will it go - I am quite worried -- What do other UK pensioners say -- I look forward to some hopeful news

Cheers
Renata.

9 comments

Apparently what is good for the Australian economy is not good for people like yourself Renata.

The UK/AUST exchange rate is tipped to stay close to what it is at the moment, so I understand.

I know the UK government have made it very hard for their Expat pensioners everywhere, but I don't think there is anything you can do about it unfortunately. The European Union have backed their decisions.

Renata - I think that the UK pays Age pension to women at 60 so you must have to wait here to qualify.



Shame really as up to 1995 when Labor did away with the Mature Age Pension you could qualify, if not working, at age 60 and fill the gap that is so bad for all those who are out of work because in this country, even with the 2004 Age Discrimination Act brought in by Peter Costello.



We have several members here who are really sad they are not getting the Mature Age and cant get work or on Widows which was also abolished but a few still qualify but in fact same as Newstart money.



Employers just ignore this Act and still advertise for up age 35 or whatever when it should be up to age 65.



I checked with UK papers not long back on that very point and all their ads were for up to 65 which is how it should be.



As jaxx said looks as if the pound will remain low due to GFC and the huge debts and deficit that the long running Labour government has brought on the country.



Apart from registering for the Newstart allowance, I cant think of any way, other than a job, if you can manage to find one - that will let you live as well as you did when it was almost 3 dollars to the pound and not so many years back - 2.1/2 maybe?



You wont be able to keep up with rising prices so will have to find some help and only Centrelink or a job.



Also if you have been out here a while of course the UK pension is not indexed so remains as it was on day 1.



have you heard of the organisation who are fighting the UK to try to make them index the pensions of people living in Australia, South Africa and Canada when all other countries are indexed. Google British Pensions in Australia for the links. Read about how they are fighting for indexation via the European Courts.



Good luck and let us know how you go.

Hi BigVal, I think the British Pension rule is pretty rude. BUT what about

the Australian one. If you retire & move overseas for more than 13 weeks

you lose your pension & if you return home, as required, then go back

to where you can afford to live, you will be investigated for fraud!!!!!

BTW when I was last in the UK, just over 2 years ago, the pound was

worth $2.7 AU, the current rate is $1.63 AU !!! & we thought we had troubles.

The British Government do not give a damn about their expat pensioners. On top of which is the fact that 4 labour governments have successively destroyed the UK economy. Four Labour governments four devaluations, and four times we pensioners have to take a financial beating. Not only do these uncaring incompetants hold our pensions to the days when we left the UK but they have also further devalued our pensions with their incompetant handling of the UK economy. Expats who left for still have a UK vote. It would be a good idea if we all voted en bloc...Australian, N.Z. Canadian, S.A. To help get rid of these nicompoops and hope a change 0of UK government will try to protect our pensions.

Innes, I think you have misread the fine print on receiving the Australian age pension overseas. I did a fair bit of research on it and came to the conclusion that you CAN be paid the pension while living overseas, but you dont get the supplement payment or the health care benefits. I could be wrong, but I believe that Centrelink will stop paying the pension after 13 weeks overseas UNLESS you have made prior arrangements.

You are correct kfchugo.

I have a friend who has been in the UK for over a year and still gets the aussie pension complete with any rises but minus supplement.

He also gets the UK pension which is still at the same rate as it was years ago - never increases.

I've just returned from UK and I loved the exchange rate thank you.

Report on what I found.

Litter all over the place...a real mess.

Over crowding and congestion.

Road rage and parking terrible.

Food prices shocking.

Fuel prices worse.

Accommodation prices out of this world...........A$150 for dirty tiny room.

Meals in pubs and restaurants reasonably priced and good value.

Car hire good.

Fish was good value.

People were friendly and very helpful in all of UK and Eire.

They are feeling the pinch but keeping that pride up to visitors.



http://www.best-you-tube-videos.com.au/category/best-you-tube-funny-commercials/

Not improved much then - I went there in 1986 and was amazed at the garabage bags left at the side of the road all over - asked it there a garbage strike - No I was told - this is normal.



Was so glad to come back home but also sad as I saw then in Sydney the changes since I last was there and how much it resembled the changes in London - for the worst.



Noticed today unless the ABC made a mistake the Aussie Dollar was worth 65p. Even less for those on UK pension. But you only have to be here now for 10 years to get on the Aussie one.

Renata - I think that the UK pays Age pension to women at 60 so you must have to wait here to qualify.



Shame really as up to 1995 when Labor did away with the Mature Age Pension you could qualify, if not working, at age 60 and fill the gap that is so bad for all those who are out of work because in this country, even with the 2004 Age Discrimination Act brought in by Peter Costello.



We have several members here who are really sad they are not getting the Mature Age and cant get work or on Widows which was also abolished but a few still qualify but in fact same as Newstart money.



Employers just ignore this Act and still advertise for up age 35 or whatever when it should be up to age 65.



I checked with UK papers not long back on that very point and all their ads were for up to 65 which is how it should be.



As jaxx said looks as if the pound will remain low due to GFC and the huge debts and deficit that the long running Labour government has brought on the country.



Apart from registering for the Newstart allowance, I cant think of any way, other than a job, if you can manage to find one - that will let you live as well as you did when it was almost 3 dollars to the pound and not so many years back - 2.1/2 maybe?



You wont be able to keep up with rising prices so will have to find some help and only Centrelink or a job.



Also if you have been out here a while of course the UK pension is not indexed so remains as it was on day 1.



have you heard of the organisation who are fighting the UK to try to make them index the pensions of people living in Australia, South Africa and Canada when all other countries are indexed. Google British Pensions in Australia for the links. Read about how they are fighting for indexation via the European Courts.



Good luck and let us know how you go.



Hi



This is my first post on this website!



You will have no doubt heard by now that the Court case brought before the European Court of Human Rights regarding the non-indexation of UK state pensions for pensioner Expats in Australia (amongst other countries) was LOST at appeal by 11 votes to 6. This is as far as this particular case can go in law although there has been an E petition running on the British Pensions in Australia website for signatures. This petition would then be presented to ALL parliamentary candidates, of whatever political persuasion, prior to the UK general election to be held on 6 May in the hope that this justified cause can be continued. Check out www.bpia.org.au for more info.



Regards



Jim

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