If you receive an Australian pension and may be entitled to a foreign pension, Australian social security legislation requires you to take reasonable steps to claim it. This is because Australia`s pension system is not based on contributions, but is funded by general tax revenues, and the government believes that all retirees should maximize their private income before ordering taxpayer-funded assistance. 1 With regard to the „in force“ announcement, the text of the agreement (in Hindi and English) and a „fact sheet“ see the website of the Australian Department of Social Services at the following address: Our bilateral social security agreement with India applies in the case of dual coverage – that is, if you or your employee were to pay super-generous contributions (or equivalent) for the same work. It applies to Australian super-bankruptcy and the corresponding Indian social security and tax laws. All applicants for an Old Age Pension in Australia must meet the minimum age and residence criteria set out in Australian social security legislation. Australian pensions are also tested as a means – that is, there is an income test and an asset test, and depending on the result of the lower pension rate, it is used for evaluation purposes. The Department of Human Services website contains information on current limits on revenues and resources. Permission to renew a coverage certificate is set on a case-by-case basis. We can only grant an extension with the mutual agreement of the relevant agency in India and in certain circumstances. Australia currently has 30 international social security agreements with other countries, many of which are still being negotiated. The SSA Australia-India is largely similar to the ASA that Australia has signed with other countries. This SSA applies to the Australian Superannuation Guarantee Act, which requires employers to pay superannuation guarantee premiums for their employees.
With respect to Indian legislation, this agreement applies to relevant Indian social security and pension laws2. The agreement does not apply to independent Australian residents working in India. They are not subject to super warranty law in Australia, so double super coverage does not occur. Bill was sent by his Australian employer to work in India for two years. Bill will continue to be covered by super warranty Australian legislation as well as Indian laws during work in India – so double super-coverage occurs. As a double super-coverage occurs, the agreement enters into force and frees Bill and his employer from the obligation to contribute under Indian law. Bill`s employer will continue to pay super-guarantee premiums, as is required in Australia.