Your guide to retiring overseas

Thinking about living abroad once you retire? Our simple guide to superannuation, the Age Pension, tax and health care can help you start your planning.

Do your homework before retiring abroad

If you’re considering retiring overseas, you'll need to do your research. It can also be a good idea to talk to a financial adviser.

Research like the Annual Global Retirement Index¹ can help make your planning easier. The index lists the 10 best places to retire at the moment with Costa Rica taking the top spot for retiring in 2024.

You can also use our handy checklist below.

Leaving Australia and your superannuation

For Australian citizens or permanent residents, super rules stay the same if you’re moving overseas, according to the Australian Tax Office.

You usually can't use your super until you reach age 60 and retire, or you meet one of the other rules to access super.

If you do move, you must remember to change the contact details on your account so your super fund can get in touch if needed.

If you have a super pension like our Retirement Income account, you'll need to check for any tax impacts.

Retiring to New Zealand? 

Here are a few options:

• You can leave your super in your fund in Australia. That includes your QSuper account if you're a member with us.
• If you have left Australia to live permanently in New Zealand, you may be eligible to transfer your QSuper funds to your KiwiSaver account via the Trans-Tasman Retirement Savings Portability Scheme.

Can I take my Australian Age Pension overseas?

You may be able to get your Australian Age Pension overseas but there are rules around it. Your payment rate might change based on:

• how long you stay overseas
• changes in your income and assets
• how long you lived in Australia between age 16 and Age Pension age
• getting the Age Pension under a social security agreement with another country.

How long can Australian pensioners stay overseas?

If you leave for less than 6 weeks: In most cases, your Age Pension usually stays the same.

If you stay overseas for more than 6 weeks: Your Pension Supplement drops to the basic rate, and your Energy Supplement stops.

If you're overseas for more than 26 weeks: Your Age Pension rate may drop depending on how long you've been an Australian resident.

Learn more about living outside Australia on the Age Pension.

Tax rules for pensioners going overseas

Retiring overseas can affect your taxes, so check what you need to do before you leave.

The ATO is a good starting point. If you're still an Australian resident for tax purposes, the ATO says you may still need to lodge an Australian tax return.

The ATO or a tax professional can help if you’re not sure about your tax situation as an Australian living overseas.

Health care when you're living abroad

The cost of quality health care is often one of the main concerns of retiring overseas.

Some countries may offer publicly-funded medical services to Australians. It's called a reciprocal health care agreement. 

These agreements may cover some of your medical costs. But each one is different, so you'll need to do some research.

Need advice about retiring overseas?

Advice about your super account is part of your membership with us.² 
If you need more than that, we can refer you to an accredited external adviser.³

Get advice

1. International Living, Annual Global Retirement Index, accessed 19 September 2024.
2. Any advice given is by representatives of QInvest Limited (ABN 35 063 511 580, AFSL 238274), wholly owned by the Trustee. As representatives, they may recommend ART products from time to time. So read the relevant Financial Service Guide at qsuper.com.au/fsg to tell you about that advice and how they’re paid.
3. Please be mindful that the external financial adviser might charge for this service. The Trustee is not responsible for the advice provided by these advisers and does not receive or pay any referral fees.