Playing Tai Chi, dancing in the field, playing mahjong, picking up grandchildren to and from school every day, this is a typical old man's old life in China. As the number of immigrants continues to rise, many Chinese in Australia want to bring their parents to Australia to enjoy Tianlun. "see and hear from Australian Finance" once wrote "you raise me when I grow up and I accompany you to grow old." To explore the current Chinese children how to plan Chinese parents to go to Australia for the elderly topic. A lot of friends can't help asking, overseas pension really has the outside world and the media propaganda so good?
A lot of people think, of course. Australia's beautiful natural scenery, comfortable and pleasant air environment and slow and lazy pace of life, the most suitable for the elderly. In addition, the Australian elderly basically do not need money to see a doctor, government will give a variety of subsidies and support, living in this world with the most complete welfare system in the country, in Australia there are no worries about old-age care!
But some people think that with the cost of living rising, pension in Australia is not as easy as you think.
What's the truth? Many Australians are indeed beginning to worry that pensions cannot afford to live after retirement, and a growing number of people intend to continue to work beyond the age of 70. In Australia, the number of people over the age of 45 who said they would not retire before the age of 70 rose sharply over the past decade, from 8 percent to 23 percent today, according to data.
The results of the demographics survey show that the main factors affecting people's decision when to retire and where to aged are the financial situation, followed by the degree of physical health of the individual. From this point of view, economic security is the first factor in determining how everyone plans his or her life in old age.
One, where does the pension cost come from?
The first question is, where does the pension cost come from? Like China, older people in Australia receive old-age pension (Superannuation) and pension (Pension) to secure their old-age lives.
Pension (Age Pension) is a welfare policy of government in Australia to guarantee the basic living standard of retired elderly. Applicants include Australian residents over 65 years of age who have resided for more than 10 years and whose assets and annual income meet certain requirements. Old-age pensions usually apply to low-income retirees without assets, so most locals don't include them in pension planning, so we don't discuss them in detail here.
Pension (Superannuation) is another source of pension capital. It is the savings it has saved when it was young, and it has always been in its pension account to generate income; eligible people can start collecting it after 55, but they may have to pay taxes before the age of 60. By the time you get a 60-year-old pension, you will no longer have to pay taxes. After 65 years of age, you can start taking out your pension without paying taxes, whether you have a job or not.
So where does all this money come from?
One is the employer. In Australia, employers are now required to pay 9.5% of their average income to employees' annuities, which are subject to a tax of only 15%.
The second is that employees themselves, without exceeding the upper limit of the law, voluntarily pay a portion of their wages to the pension. This would reduce the taxable income of one's income, which would be cost-effective for those with a tax rate of more than 15 per cent. In addition, after-tax income can also be paid into the pension, enjoy tax concessions.
The third one is government. To meet certain conditions, government for low-income people to pay pensions.
Fourth, a pension may be paid for the spouse. In some cases, tax credits may also be applied.
Finally, self-employed owners, can pay pensions, but also enjoy a low tax rate of 15%.
Once the old-age pension model has begun, it is no longer possible to put money into the account.
But in recent years Australia's tax increases, welfare cuts are evident, according to various reports, pension prospects are not very optimistic.
A survey released by the RaboDirect found that 44 percent of Australians believe their pensions are insufficient to support their retirement needs, and nearly 20 percent rely on relatives' legacies to support post-retirement lives. Therefore, experts suggest that old-age planning should be early, twenty-something is the best time to begin to deal with pension. Attention needs to be paid to:
First, contributions to pensions are continuous and consistent. To ensure that employers pay their pensions on time, they need to review their pension contributions on a regular basis and check their payrolls and checklists sent by (Super Fund), the pension fund, in September of each year. In addition, for freelancers, in order to have a comfortable old age, they need to pay their own pension.
According to the Australian Bureau of Statistics, the average life expectancy for Australians is 82 years, meaning we have 15-20 years to live on pensions. Since pensions are a long-term accumulation process, saving a small amount of money at a young age, over time, will undoubtedly benefit more than when you retire.
Second, pension benefits are too small? Over 30% of older Australians live below the poverty line
However, a growing number of retirees in recent years believe that pension benefits are not enough to support their retirement lives and hope for the new budget this year.
Currently, single-person pension benefits are based on A $862.2 for two weeks, compared with A $622.8 per fortnight for both couples.
In addition, eligible retirees receive pension and energy subsidies every two weeks. But most say the money is barely enough to live, and some of those who have retired are considering returning to work to improve their quality of life.
"I think it's clear that pension benefits are not enough," said Ian Henschke of the Australian elderly Association (National Seniors Australia). A recent OECD study found that one in three retirees in Australia live below the poverty line. "
Third, in Australia, buying a pension is like winning the lottery!
Although Australia's mandatory pension system has a history of nearly 30 years. But a new survey by the (the Productivity Commission), the Australian Productivity Council, shows that the mandatory pension system is out of date and has obvious structural flaws.
"according to statistics, pension management agencies charge billions of Australian dollars a year from pension account holders, resulting in a significant gap in post-retirement pension account balances for many Australians."
"there are two major structural flaws in the pension system," said Karen Chester, vice-chairman of the Australian Productivity Commission. That is, a large number of unnecessary multiple accounts and continued poor performance of the rate of return. "
According to statistics, Australia currently has 10 million multi-pension accounts, the annual account management costs close to 2.6 billion Australian dollars. While yields for some better performing pension funds have been stable, there are still large numbers of long-term underperforming pension funds, which continue to erode the pension accounts of Australians.
At present, Australia's pension is as large as A $2.6 trillion, but over the past decade, 1/4 of the funds have "failed" to meet the yield criteria. This means that the balance of about 5 million member accounts is shrinking.
The Australian Productivity Commission, the most important economic adviser to the Federal government, says 55-year-old retirees can accumulate an extra $61000 in pensions by cancelling multiple accounts and transferring them to better-performing funds. New members could have a retirement account balance of A $407000 by 2064.
"for a significant number of retirees, the current pension system is like buying lottery tickets," Karen Chester said. If you don't choose the right pension fund, you'll have to admit it's bad luck. "
Although the system works well for some members, for many others the impact is extremely negative. "especially for young people, low-income workers and people with unstable jobs, these are embarrassing facts that need to be addressed by the pension industry right now," he said.
Since the birth of the compulsory pension system, the industry has been criticized for "more money and less money." That is to charge high management fees every year, but the lack of money to do nothing, low yield poor, or even negative.
As people's health improves and retirees live longer, some people's pensions could run out ahead of time if they don't reform, putting considerable financial pressure on older people, Chester said.
Fourth, the cost of living in Australia is too high? Retired old people have gone overseas to provide for the aged.
Meanwhile, with house prices and living expenses soaring in Australia, there has been a sharp increase in the number of retirees who have opted for retirement overseas over the past decade, and groups of elderly Australians in Thailand, Spain and Cambodia have grown.
11660 of Australians over 55 years of age permanently moved overseas in 2016, compared with 7910 in 2005, according to ABS. The most popular retirement destinations for Australian seniors include New Zealand, Italy, Greece and Spain.
（旧日的制度； 例行的事） old practice
On a cobblestone street in southern Spain, Nora Ott (Norah Ohrt) lives like a typical Andalusian (Andalusian) in a small white house with red flowers blooming out of the window.
The 71-year-old said: "if I didn't choose to leave Australia, my life would be another scene: living in an old, old house in Perth, bearing the foul smell of greasy rags."
Five years ago, Ohrt packed everything and took her two cats to a charming Spanish town of Matos (Martos). Of the 23,999 residents of Martos, Ohrt is the only Australian in the area. Live comfortably in Martos,Ohrt in a three-bedroom, two-bath villa with panoramic views of the town.
It costs just A $12 for three dishes and one soup, 110 euros (about 175 Australian dollars) a year for the city, and 120 euros (about 192 dollars) a year for water. There, Ohrt can rely entirely on her pension to pay her bills.
Ohrt has renovated her A $65000 home in Martos with her pension, and now many of her Australian friends are trying to spend their old age in this way, after all, Spain's cheapest home is A $20700.
You might say that emigrating from Australia like Ohrt is a case in point. Look at those old people who lie on the beach and blow the wind, sit in their gardens, read newspapers, sun, play golf and eat BBQ on weekends. Their happiness is still high. So in Australia, how much does a carefree retirement cost?
Five, how much money does it take to have a comfortable old age in Australia?
While Australia's welfare is good, it doesn't mean there's no need for savings, especially in Sydney, Australia's big city.
If you are a single retired resident renting a one-bedroom flat in Sydney costs about A $62434 a year, according to the Australian Pension Association's Retirement Standards report. Retired couples rent a two-bedroom property with an average cost of living of A $79801.
If you own a house, the average cost of living for a single pensioner in Sydney is A $43300, compared with A $59600 for couples. Despite the expense of renting a house, it is not a small sum of money.
Martin Fahy, chief executive of the Australian Pension Association, reckons that pensioners in Sydney need to save between A $1.04 million and A $1.16 million if they want to live a comfortable life.
Single retirees who own homes need to save A $ five hundred and forty five thousand in pensions, compared with A $ six hundred and forty thousand for couples.
At present, housing affordability and pensions are still a concern for many Australians, not just the elderly. By the above standards, about half of Australians believe that they do not have enough money to live after retirement. And women are far more pessimistic than men.
"overall, Australians don't seem as confident as they would be to have enough money to achieve the ideal retirement life."
Australia now has a pension system that is the envy of the world, according to the U.S. News & World Report) survey conducted by the Wharton School of Business at the University of Pennsylvania in 65 countries surveyed. Australia's pension system ranks second in the world. This includes the national retirement income, the sustainability and integrity of the pension system and other factors.
Then why do Australian elderly people leave their homes and go abroad to provide for the elderly? I think this is the same answer for Chinese to come to Australia for a better and more comfortable old-age environment. It's like some people go to the examination room at night, and some people quit their official and return to their hometown. Everyone has different criteria for good and bad, and natural selection will also be different.
But one thing is certain, whether at home or abroad, to enjoy the good times after retirement, we must be financially independent and have adequate pensions. The old saying says: juvenile suffering is not bitter, old bitter is called bitter. Take advantage of the young, take advantage of the opportunity, strive to struggle, physical strength, than intelligence, lay the foundation for their old life.
But the sunset bright and beautiful, why melancholy near dusk.