Colin all that you say is correct but all Australians can also have Aus $545,000 of assets in super as or any asset they like if single and still get the AAP. I think it's all about as good as can be gotten. Not so good for those who never save a penny.
... Don't just tell me, tell it to the other 120,000 tourists at any one time in Hua Hia, tell them not to be at least a bit naughty, drunk, chasing girls in the hundreds of girlie bars etc. etc, just like Pattaya.....TIT. ha. ha. harrrrr.
If you have 35 years residency in Australia and apply for portability at 67 y/o when you apply you will already have done your 2 years for portability as part of your 35 years of residency. It is 2 years before or after getting the AAP. That is why most long-term residence people get portability straight away.
That is often the case with having the AAP, that is because it is under the tax-free threshold for seniors ($35,000 threshold you pay no tax for anyone over 67 y/o). Some people have to pay tax if their income is over the tax-free threshold in Australia if that includes the Aged Pension..