Maximum Age Pension rates as at 20 September 2018 are as follows:
Includes Pension Supplement and Energy Supplement. These supplements help you to meet the costs of your daily household and living expenses including energy costs.
Your rate of Age Pension is calculated under both an Assets Test and an Income Test. The test resulting in the lowest rate will apply.
The level of assets you own are assessed against the Assets Test thresholds which vary depending on your home ownership and relationship status. For every $1,000 of assets in excess of the lower threshold, your rate of Age Pension reduces by $3.00 per fortnight, reducing to zero once your assets exceed the upper threshold.
Effective 20 September 2018, the assets thresholds are as follows:
|Lower threshold||Upper threshold
Income from various sources are assessed against the Income Test thresholds, which vary depending on relationship status. The way income is determined for this test depends in the nature of the income or investment.
For every dollar of income in excess of the lower threshold, your rate of Age Pension reduces by $0.50 per fortnight, reducing to zero once your income exceeds the upper threshold.
Effective 20 September 2018, the income thresholds are as follows:
Determining whether and how much you are entitled to can be complicated. A financial adviser can help you determine your Centrelink entitlements.