Australia has signed various reciprocal pension agreements with other countries to help ensure people who have moved abroad are able to receive some form of pension upon retirement. These agreements are often referred to as International Social Security Agreements and they help to recognize the social security contributions made by people from both countries.
Under these agreements, individuals are able to continue to pay and/or receive some pension entitlements, even if they are no longer living and working in the country of origin. These agreements generally cover retirement and disability benefits, as well as some other social security payments.
Here are some of the countries that have reciprocal pension agreements with Australia:
1. Canada – The agreement between Australia and Canada came into effect in 1986. It allows individuals who have contributed to the social security system in both countries to claim pensions in either country. This means that people who have lived and worked in Canada or Australia can receive benefits from both countries.
2. Italy – The agreement between Italy and Australia came into effect in 2001. It allows individuals who have contributed to the social security system in both countries to claim pensions in either country. This means that people who have lived and worked in Italy or Australia can receive benefits from both countries.
3. Portugal – The agreement between Portugal and Australia came into effect in 2011. It allows individuals who have contributed to the social security system in both countries to claim pensions in either country. This means that people who have lived and worked in Portugal or Australia can receive benefits from both countries.
4. Greece – The agreement between Greece and Australia came into effect in 2008. It allows individuals who have contributed to the social security system in both countries to claim pensions in either country. This means that people who have lived and worked in Greece or Australia can receive benefits from both countries.
5. Ireland – The agreement between Ireland and Australia came into effect in 1992. It allows individuals who have contributed to the social security system in both countries to claim pensions in either country. This means that people who have lived and worked in Ireland or Australia can receive benefits from both countries.
These are just some of the countries that have reciprocal pension agreements with Australia. If you have lived and worked in any of these countries (or other countries with similar agreements), it`s worth investigating how the agreement may be able to benefit you in terms of receiving pension entitlements.
Overall, these reciprocal pension agreements help to ensure that people are not disadvantaged when they move overseas by allowing them to access pension payments they may not otherwise be entitled to. It`s important to keep in mind that the details of each agreement may vary, so it`s important to speak with experts in the field to ensure you understand your entitlements.
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