Estimate your Age Pension entitlement using the income test and assets test (the lower of the two determines your payment). Services Australia 2025 rates.
ℹ️ Note: This is an estimate only. Your actual entitlement is determined by Services Australia (Centrelink). Always apply through myGov / Centrelink for an official assessment.
| Test | Detail | Reduction |
|---|
| Item | Single | Couple (combined) |
|---|---|---|
| Maximum fortnightly rate (base) | $1,200.90 | $1,810.40 |
| With supplements | ~$1,149 | ~$1,732 |
| Income free area (per fortnight) | $212 | $372 |
| Income reduction rate | $0.50 per $1 over | $0.50 per $1 over |
| Asset threshold (homeowner) | $321,500 | $481,500 |
| Asset threshold (non-homeowner) | $579,500 | $739,500 |
| Asset reduction rate | $3.00 per $1,000 over | $3.00 per $1,000 over |
| Rate | Per Fortnight | Per Year (approx) |
|---|---|---|
| Single (maximum) | $1,200.90 | ~$31,223 |
| Couple combined (maximum) | $1,810.40 | ~$47,070 |
| Situation | Income Free Area | Pension reduces by |
|---|---|---|
| Single | $218/fortnight | 50c per $1 above free area |
| Couple combined | $380/fortnight | 50c per $1 above free area |
| Situation | Full Pension Below | No Pension Above |
|---|---|---|
| Single homeowner | $321,500 | ~$681,000 |
| Single non-homeowner | $579,500 | ~$939,000 |
| Couple homeowner | $481,500 | ~$1,029,500 |
| Couple non-homeowner | $739,500 | ~$1,287,500 |
The pension reduces by $3 per fortnight for every $1,000 of assessable assets above the threshold. Centrelink applies both tests and pays the lower pension.
Financial assets are assessed using deemed income rates rather than actual returns: 1.25% p.a. on the first $64,200 (singles) or $106,200 (couples) of financial assets, and 2.25% p.a. on amounts above those thresholds.
What age qualifies for the Age Pension?
67 for anyone born on or after 1 January 1957. You must also be an Australian resident with at least 10 years total residency (5 continuous) and pass both the income and assets tests.
Does my home count in the Age Pension assets test?
No. Your principal home is fully exempt from the assets test regardless of its value. However, homeowners and non-homeowners face different threshold amounts — homeowners can hold more in non-home assets before the pension reduces.
Can I receive the Age Pension and still work?
Yes. The Work Bonus allows age pension recipients to earn up to $300 per fortnight from employment without it affecting their pension. Amounts above $300 count as income under the income test. Any unused Work Bonus accumulates up to $11,800 per year.
What is the pension loans scheme?
The Pension Loans Scheme (now called the Home Equity Access Scheme) allows older Australians to borrow against their home equity to receive additional income support. The loan accumulates with compound interest and is repaid from the estate. It is available to both pensioners and non-pensioners who own property.