Check Eligibility
To be eligible for Age Pension you must be Age Pension age and meet some other rules.
On 1 July 2021, the Age Pension age increased to 66 years and 6 months for people born from 1 July 1955 to 31 December 1956, inclusive.
If your birthdate is on or after 1 January 1957, you’ll have to wait until you turn 67. This will be the Age Pension age from 1 July 2023.
Income Rules
Single Person
| Income per fortnight is | Amount your pension will reduce by |
|---|---|
|
Up to $180 |
$0 |
|
Over $180 |
40 cents for each dollar over $180 |
Couple living together or apart due to ill health
| Combined income per fortnight | Amount your combined pension will reduce by |
|---|---|
|
Up to $320 |
$0 |
|
Over $320 |
40 cents for each dollar over $320 |
The Age Pension Cut Off Points
If your income in a fortnight goes over the cut off point, you’ll receive $0 for that fortnight.
Your Age Pension cut off point will be higher if you get the Work Bonus.
| Your situation | Income cut off point |
|---|---|
|
Single |
$2,115.00 |
|
A couple living together |
$3,237.20 combined |
|
A couple living apart due to ill health |
$4,190.00 combined |
Assets Test
If you get a full pension
When your assets are more than the limit for your situation, your pension will reduce.
If you’re a member of a couple, the limit is for both you and your partner’s assets combined, not each of you.
| Your situation | Homeowner | Non-homeowner |
|---|---|---|
|
Single |
$270,500 |
$487,000 |
|
A couple, combined |
$405,000 |
$621,500 |
|
A couple, separated due to illness, combined
|
$405,000 |
$621,500 |
|
A couple, one partner eligible, combined |
$405,000 |
$621,500 |
If you get a part pension
From 1 July 2021, part pensions cancel when your assets are over the cut off point for your situation.
If you’re a member of a couple, the limit is for both you and your partner’s assets combined, not each of you.
| Your situation | Homeowner | Non-homeowner |
|---|---|---|
|
Single |
$593,000 |
$809,500 |
|
A couple, combined |
$891,500 |
$1,108,000 |
|
A couple, separated due to illness, combined
|
$1,050,000 |
$1,266,500 |
|
A couple, one partner eligible, combined |
$891,500 |
$1,108,000 |
If you get Rent Assistance with your pension, your cut off point is higher.
Asset limits for a part Age Pension (Residents)
| Your situation | Homeowner | Non-homeowner |
|---|---|---|
|
Single |
$593,000 |
$809,500 |
|
A couple, combined |
$891,500 |
$1,108,000 |
|
A couple, separated due to illness, combined
|
$1,050,000 |
$1,266,500 |
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