10.25.8.20 Outside Australia Rate - Agreement with Finland
Outside Australia rate
Article 14 of the Agreement provides that the rate of Australian benefit paid under the Agreement to a person outside Australia is calculated according to Australian Legislation (using the overall rate calculation process in SS(IntAgree)Act section 13).
This means that the person is paid a rate that is proportional to the amount of time they have lived in Australia during their working life (10.25.8.30).
Former Australian residents living in Finland will have their pension rate calculated based on their Australian working life residence over a denominator of 35 years.
Note: Generally those granted under the Agreement before 1 July 2014 will continue to be paid based on a denominator of 25 years.
The ceiling rate discussed in 10.1.9.20 applies to people being paid under this Agreement.
Temporary return to Australia
People paid under the Agreement who reside in Finland and travel to Australia temporarily will continue to have their rate calculated using the outside Australia rate for up to 26 weeks. Once they have been in Australia for more than 26 weeks, their rate will be calculated using the inside Australia rate in 10.25.8.50.
AWLR changes - 1 July 2014
People who are overseas immediately before 1 July 2014, receiving an affected payment, who return to Australia, on or after this date, will retain their 25 year AWLR, provided they do not remain in Australia for 26 weeks or more from their return date. If they return to Australia for 26 weeks or more, or they cease to qualify for that payment, they lose the 25 year AWLR saved status.