Age Pension payment rates

The rate at which your fortnightly Age Pension is paid depends on a number of factors: whether you qualify for a full or part Age Pension, your level of income and assets and whether you earn money that can be considered exempt under the Work Bonus Scheme.

Your Age Pension payment is calculated against both the asset and income tests and you are paid the lower rate of the two.

The current rate of a full Age Pension, including Pension Supplement and the Energy Supplement (formerly known as the Clean Energy Supplement), is $944.30 per fortnight for singles and $711.80 per fortnight for each eligible member of a couple.

Under the income test, your pension payment is reduced by 50 cents for every $1 of assessable income over the current limit to qualify for a full Age Pension, which for singles is $172 per fortnight. Once your assessable income is more than $2062.60 per fortnight, you will lose your Age Pension. Under the asset test, your Age Pension is reduced by $3 per fortnight for every $1000 you exceed the asset limit for a full Age Pension.

The Work Bonus, which was introduced in 2009, is designed to encourage people to work past the qualifying age for the Age Pension. Under the Work Bonus, the first $300 of income per fortnight derived from employment is exempt from the income test.

Should you choose to leave Australia to live overseas, your Age Pension payment may still be paid, but your rate may change.

Were Age Pensioners unfairly denied a pay rise?

Living costs dropped for most, but did they drop for older Australians?

Aussie pensioners denied Age Pension increase in September

Pensioners will have to wait until February for news of the next pension pay rise.

No Age Pension rise in store for September indexation: CPSA

This would mark the first time since 1931 that there will be no pension increase.

Time to address pensioners’ rental stress

Pensioners are being overlooked in welfare handouts.

Changes to JobSeeker rates and thresholds

From 20 March 2020, JobSeeker rates and thresholds will be indexed.

Age Pension update: increases and changes from 20 March 2020

Changes to the Age Pension that will come into effect on 20 March 2020.

Rent Assistance rates payable from 20 March 2020

The new payment rates and limits for rent assistance from 20 March 2020.

Age Pension increases: 20 March 2020

How much more Age Pension will you receive?

Boost for pensioners expected in government aid package

A cut to deeming rates is expected this week as part of a federal government economic package to

How the government must respond to support Australia’s retirees

We asked for your help to prepare a submission to the government's retirement income review. This

Age Pension increases: 20 September 2019

How much more Age Pension will you receive?

Rent assistance rates payable from 20 September 2019

The new payment rates and limits for rent assistance.

1 2 3 4

OUR PARTNERS

household capital

TOP STORIES

Back to Top

Login to reply

New Report

Close