International State Pensions

If you are an immigrant to Australia who has qualified for a state pension in the country of their birth, it is usually possible to have that pension paid into an Australian bank account.

However, if you are entitled to any Centrelink benefits this pension will be taken into account as part of your assessment and could result in a reduction of benefits.

Another consideration is that some countries, such as the UK, freeze the level of the pension at the rate the recipient was getting at the time of their emigration. Having a non-indexed state pension means it loses buying power over the years. If you add this to the current strength of the Aussie dollar against other currencies it is apparent that some international  state pensions cannot be depended upon to fund your retirement.