Complete guide to the Australian Age Pension in 2025. Current payment rates, income test and assets test thresholds, how the taper rate works, and strategies to maximise your entitlements.
The Australian Age Pension is a government-funded income support payment for older Australians who meet eligibility requirements around age, residency, and financial circumstances. It is administered by Services Australia (Centrelink) and is separate from superannuation, which is an employer-funded private savings system.
The qualifying age for the Age Pension is 67 years for both men and women, for anyone born on or after 1 January 1957. This age was progressively increased from 65 over several years and has now been fixed at 67.
You must be an Australian resident and have been living in Australia for at least 10 years in total, with at least 5 of those years being continuous. There are special provisions for refugees and those from countries with which Australia has social security agreements.
Estimate your Age Pension entitlement based on your income, assets, and homeowner status — including both income and assets tests.
Open Age Pension Calculator →Age Pension rates are adjusted twice a year (in March and September) in line with movements in the CPI and Male Total Average Weekly Earnings (MTAWE). The following rates apply from September 2025:
| Payment Type | Fortnightly | Annual (approx.) |
|---|---|---|
| Single person — base rate | $1,020.60 | $26,536 |
| Single person — pension supplement | $81.60 | $2,122 |
| Single person — energy supplement | $14.10 | $366 |
| Single person — total maximum | $1,116.30 | $29,024 |
| Couple (each) — base rate | $769.30 | $20,002 |
| Couple (each) — supplements | $61.50 | $1,599 |
| Couple (combined) — total maximum | $1,681.60 | $43,722 |
Note: Rates shown are estimates. Check servicesaustralia.gov.au for the most current figures.
The income test reduces your pension if you (or your partner) receive income from sources other than the pension. Not all income counts equally — the test uses a concept called "assessable income" which includes some things you might not expect.
For financial assets such as bank accounts, shares, and super in the accumulation phase (before retirement), Centrelink does not use your actual income. Instead, it deems that your financial assets are earning a set rate of return, regardless of what they actually earn.
The 2025 deeming rates are:
| Asset Value | Singles | Couples (combined) |
|---|---|---|
| First $62,600 | 0.25% | First $103,800 at 0.25% |
| Above $62,600 | 2.25% | Above $103,800 at 2.25% |
| Fortnightly Free Area | Annual Equivalent | |
|---|---|---|
| Single | $212 | $5,512 |
| Couple (combined) | $372 | $9,672 |
Above the free area, the pension reduces by 50 cents for every dollar of income. This is the income test taper rate. For a single person, the full pension cuts out completely when income exceeds approximately $2,444 per fortnight.
The assets test looks at the value of things you own — not including your primary residence if you own your home. Assets are valued at their current market value.
| Homeowner | Non-homeowner | |
|---|---|---|
| Single — full pension | Up to $314,000 | Up to $566,000 |
| Single — part pension | Up to $695,500 | Up to $947,500 |
| Couple — full pension | Up to $470,000 | Up to $722,000 |
| Couple — part pension | Up to $1,045,500 | Up to $1,297,500 |
Above the full pension threshold, the pension reduces by $3 per fortnight for every $1,000 of assets above the threshold.
Centrelink applies both the income test and the assets test to your situation. Your pension is set by whichever test gives you the lower pension amount. If either test reduces your pension to zero, you receive nothing from that test.
Super in the accumulation phase (before you have started drawing it down as a pension) is included in the assets test once you reach Age Pension age. This surprises many retirees who assumed super would not be counted.
Once you convert your super to an account-based pension (income stream), the balance counts under both the assets test and the deeming rules for the income test. Choosing how and when to draw down super can significantly affect your pension entitlement — which is why this area is a prime one for getting professional financial advice.
Enter your income, assets, and homeowner status to estimate your fortnightly Age Pension entitlement.
Calculate My Age Pension →