Cost of living

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6 yrs ago

We are a married couple living abroad and I receive half the married rate of pension as my wife is not Australian. She does not have a pension from her home country. We are considering returning to Australia to live so I can be with my grandchildren. We would have our own home, and about $140,000 to invest, but no other assets. My question is this. Would a couple residing in a country town in Victoria be able to live on the single rate plus interst on this investment? I would appreciate any advice.

5 comments

you may have lost your resedency status. two years out of australia and its gone. you may have to wate two years here to get it back.

Deflo

6 yrs ago

With respect that is not the case. I have been overseas for four years and still receive my pension. I can return to Australia at any time and continue with the pension at the local (not overseas) rate. My question was about cost of living.

Will be a struggle on a single pension

but of you're in love and don't mind giving it a go, what have you got to lose .

You're never too old for an adventure

and besides , you will be with your kids and grandkids

what can be better than that

I wonder if your wife might qualify for an aged pension as an Australian permanent resident? I'm sure citizenship is not a requirement, but I'm not up on how long you have to live here to qualify for a pension. It's possibly worth contacting Centrelink and asking. Otherwise, good luck. The single pension is not a lot for two people to live on. You'd need to find very cheap accommodation. Rents are really making life hard for pensioners.

Deflo

6 yrs ago

Rainey, thank you.

Rent is not an issue. I would buy a house, say in the Granmpians, and have the pension, (half married rate) of 16,333. I will then have about 9,000 in interest from investments without touching capital. Could a couple in country Victoria live on 25,000 per annum? That is the question. I have not lived in Australia for 4 years so am not familiar with day to day costs.

Couples live on that on the married pension

so I dont see why not

Cost of living

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