Retiring To Australia - Make The Dream A Reality

Spending retirement years in Australia would have seemed an impossible dream to all but the wealthiest few a couple of generations ago. But times are changing. India’s life expectancy statistics have almost doubled since the 1950s. Today, millions live long beyond retirement age, and this is a period of life that we now think about and prepare for much more seriously.  

Those who are financially able to retire early might even spend more years in retirement than in work and retiring overseas to a country like Australia makes a lot of sense. The two nations have strong social and economic ties Australia is famous for its high standard of living, favourable climate and top-notch healthcare. 

Like minded, from cricket to casinos  

Even Prime Minister Narendra Modi is in on the joke about Australia and India being bound by a shared love of cricket and curry. Australia’s sporting prowess needs no explanation here, and days spent in retirement sitting at the WACA or the MCG definitely sound attractive.  

There’s another C that we could add, which is casinos. Australians wager more per capita than any other nation, and although the favourite activity there is either land-based or online pokies , the casinos also offer all the usual card games. The online casino platforms even include a few Indian classic casino games like teen patti and andar bahar.  

As for the curry connection – India is the third most common country of birth for Australians. Indian cuisine is everywhere, and you’ll find a choice of both authentic “tastes like home” fare and some fascinating and delicious fusion menus that add an Australian twist to traditional Indian flavours.  

What are the visa options? 

visa options

Five years ago, it was easy, you just needed to fill out a form for a 403 retirement visa, which could be automatically renewed after 10 years. Now if you are already in possession of one, then you can renew it with no problem. However, this visa route is not available to new applicants.  

Don’t despair, however, there are other visa routes to your retirement dream. If you already have family living in Australia, the Parent Visa could allow you to join them and to remain indefinitely. There are also routes for those who wish to work or even to study in Australia, or for anyone planning to start a business or make some significant investment in Australia. If your heart is set on Australia and it is financially realistic, then book yourself a slot with a visa advisor. There are probably two or three options open to you, and it is definitely worth investing in some professional support, both to make the right choice and to get through the visa progress. 

IMPORTANT – don’t think you know everything after one 30-minute meeting. Retaining the services of a visa consultant, not just for initial advice, but to guide you through the full process and help with your application is well worth the expense.  

Social security for retirees 

good-transaction-is-success

In 2016, Australia and India signed a social security agreement under which the two nations share responsibility for pensions to people who would not otherwise be entitled because either they have not resided in Australia long enough or they have insufficient insurance periods in India.  

It also helps people who could not otherwise claim due to time spent living overseas. Obviously, social security is a complex topic. Everyone’s situation is unique and we cannot cover all the angles here. It is, however, positive and reassuring news if you are looking to retire to Australia and you should speak to Centrelink to discuss your personal circumstances.  

Where to retire in Australia? 

In some ways, this is as personal and unanswerable question as where to retire if you stay in India. It depends on what you like, the kind of activities and amenities you prefer and, of course, your budget. Here, we outline three places in Australia where the retirement population speaks for itself.    

Nelson Bay, New South Wales – this stunning coastal resort has all the luxuries including a wonderful golf course and an amazing food scene. Rick Stein recently opened a new restaurant  near here Solders Point.  

Mornington, Victoria – this established retirement hotspot has old fashioned village charm with all the local amenities you might need, including efficient public transport with easy links into Melbourne and excellent public and private health facilities. 

Caloundra, Queensland – another popular retirement hub, Caloundra is conveniently stationed between Brisbane and Sunshine Coast. Mild year-round weather, uncrowded beaches and great infrastructure – what’s not to like? 

Disclaimer: The above is a contributor post, the views expressed are those of the contributor and do not represent the stand and views of Outlook Editorial.