Pillar guide · updated for 2026
The Complete Guide to the Australian Age Pension
The Age Pension is an income support payment from Services Australia for people aged 67 and over. The maximum rate is $1,148.60 a fortnight for a single person and $1,731.60 combined for a couple as at 20 March 2025. Your actual payment is the lower result of the assets test and the income test.
Key facts at a glance
- Age Pension age is 67 for everyone born on or after 1 January 1957 (Services Australia).
- Maximum payment as at 20 March 2025: $1,148.60 per fortnight single, $1,731.60 per fortnight combined for a couple, including supplements.
- Assets test free area: $321,500 for a single homeowner, $481,500 for a homeowner couple. The pension reduces by $3 a fortnight per $1,000 above it.
- Income test free area: $212.00 a fortnight single, $372.00 combined for a couple, then 50 cents lost per dollar over.
- Residence rule: at least 10 years of Australian residence, including 5 unbroken years.
- Rates and thresholds are indexed twice a year, on 20 March and 20 September. Next indexation: 20 September 2026.
All figures correct as at 20 March 2025, sourced from Services Australia. Next indexation: 20 September 2026.
What is the Age Pension?
The Age Pension is a means-tested income support payment paid by Services Australia (through Centrelink) to Australian residents who have reached Age Pension age. It is paid fortnightly, it is not something you contribute to during your working life, and it is separate from superannuation. Roughly two in three Australians over 67 receive a full or part Age Pension.
Three things decide whether you are paid and how much: your age and residence, your assessable assets, and your assessable income. The legal basis for all of it is the Social Security Act 1991 (Cth), and the dollar figures are updated by indexation twice a year.
Am I eligible for the Age Pension?
To be paid the Age Pension you must meet all four of these conditions:
- Age. You have reached Age Pension age — 67 for anyone born on or after 1 January 1957.
- Residence. You are an Australian resident and in Australia on the day you claim, and you have been an Australian resident for at least 10 years, including 5 unbroken years.
- Assets test. Your assessable assets are below the cut-off for your relationship and homeowner status.
- Income test. Your assessable income is below the cut-off for your situation.
Read the detail in Age Pension eligibility and age requirements, or check your exact date with the Age Pension Age Calculator.
How much is the Age Pension?
| Component | Single | Each member of a couple | Couple combined |
|---|---|---|---|
| Maximum basic rate | $1,051.30 | $792.50 | $1,585.00 |
| Pension Supplement | $83.20 | $62.70 | $125.40 |
| Energy Supplement | $14.10 | $10.60 | $21.20 |
| Total maximum | $1,148.60 | $865.80 | $1,731.60 |
A couple separated by illness is paid at the single rate each. Full rate details, annual equivalents and payment dates are in How much is the Age Pension?
How the assets test works
The assets test counts almost everything you own except your principal home: savings, shares, superannuation once you reach pension age, investment property, vehicles, and the market value of household contents. You keep the full pension up to a free area, then lose $3 per fortnight for every $1,000 of assets above it.
| Your situation | Full pension up to | Part pension cuts out at |
|---|---|---|
| Single, homeowner | $321,500 | $697,000 |
| Single, non-homeowner | $579,500 | $955,000 |
| Couple, homeowner (combined) | $481,500 | $1,047,500 |
| Couple, non-homeowner (combined) | $739,500 | $1,305,500 |
How the income test works
The income test counts employment income, rent, overseas pensions and the deemed income from your financial assets. A single person can earn $212.00 a fortnight before the pension reduces, and then loses 50 cents for every extra dollar. Payment stops at $2,510.00 a fortnight for a single person and $3,836.40 combined for a couple.
Deeming means Services Australia assumes your financial assets earn a set rate — 0.25% up to $62,600 for a single person and 2.25% above that — regardless of what they actually earn.
Combined Pension Estimator
Runs both tests and shows the lower result — the same way Services Australia works out your rate.
Estimated result
$1,148.60 per fortnight
You are estimated to receive the full pension. Roughly $2,489 a month, $29,864 a year.
- Maximum rate
- $1,148.60 per fortnight
- Assets test result
- $1,148.60 per fortnight
- Income test result
- $1,148.60 per fortnight
- Deemed income counted
- $107.32 per fortnight
- Total assessable income
- $107.32 per fortnight
This is an estimate based on the published rules and rates of Services Australia, correct as at 20 March 2025. Confirm your actual entitlement with Services Australia — your circumstances may include assessments this tool does not model.
Worked example: Sarah, single homeowner
Sarah is 68, single, and owns her home. She has $240,000 in an account-based pension, $20,000 in the bank and $25,000 of car and contents — assessable assets of $285,000.
Assets test: $285,000 is below the $321,500 free area, so no reduction.
Income test: her $260,000 of financial assets are deemed at 0.25% on the first $62,600 and 2.25% above, giving roughly $174.00 a fortnight — below the $212.00 free area.
Result: both tests leave her at the maximum, so Sarah is estimated to receive the full $1,148.60 a fortnight.
How do I apply for the Age Pension?
You can claim online through myGov linked to Centrelink up to 13 weeks before you reach pension age. In short: set up a myGov account and Centrelink online account, get a Customer Reference Number, prove your identity, gather income and asset documents, then submit the claim and upload supporting documents. Each step, with the documents you need, is in How to apply for the Age Pension.
Keeping your payment right
You must tell Services Australia within 14 days if your income, assets, relationship status or living arrangements change. Rates and thresholds themselves change every March and September, so a payment that was correct last year may not be this year. If you are not eligible for a pension because of the means tests, check the Commonwealth Seniors Health Card, which has an income test only and no assets test.
Frequently asked questions
How much can I have in assets and still get the Age Pension?
A single homeowner can have up to $321,500 in assessable assets and still receive the full Age Pension, and up to $697,000 before the part pension cuts out. A couple who own their home can have $481,500 for the full pension and up to $1,047,500 combined for a part pension. Your own home is not counted. Figures are as at 20 March 2025.
What age can I get the Age Pension in Australia?
Age Pension age is 67 for everyone born on or after 1 January 1957. The age rose in six-month steps between 2017 and 1 July 2023, when it reached 67 and stopped rising. There is no scheduled increase beyond 67.
How much is the Age Pension per fortnight?
The maximum Age Pension is $1,148.60 a fortnight for a single person and $1,731.60 a fortnight combined for a couple, including the Pension Supplement and Energy Supplement, as at 20 March 2025. Rates are indexed on 20 March and 20 September each year.
Is superannuation counted for the Age Pension?
Yes. Once you reach Age Pension age, your superannuation is counted as an assessable asset whether it is in accumulation phase or paying you an account-based pension, and it is deemed to earn income under the income test. Super belonging to a partner who is under Age Pension age and not drawing on it is not counted.
Does my home count in the Age Pension assets test?
No. Your principal home and up to two hectares of adjacent land on the same title are exempt from the assets test. Owning a home does lower your assets test free area, because homeowners and non-homeowners have separate thresholds.
Can I work and still get the Age Pension?
Yes. Under the Work Bonus the first $300 of employment income each fortnight is not counted under the income test, and unused amounts build up in an income bank to a maximum of $11,800. New pensioners start with a $4,000 Work Bonus credit.
Which test decides my payment, the assets test or the income test?
Services Australia applies both tests and pays whichever produces the lower rate. If your assets result and income result differ, the lower figure is the one you are paid, and the test that produced it is described as the binding test.
How long do I have to have lived in Australia to get the Age Pension?
You generally need to have been an Australian resident for at least 10 years in total, including one unbroken period of at least 5 years. Some international social security agreements and exemptions can change this.
Researched and fact-checked by
researches Australian retirement and social security policy full time. Not a licensed financial adviser — every figure on this page is sourced from Services Australia or the Social Security Act 1991 (Cth).
Last reviewed: 15 September 2026
Figures as at: 20 March 2025
Next indexation: 20 September 2026
Change log: Reviewed 15 September 2026 against Services Australia rates correct as at 20 March 2025; all thresholds, supplements and deeming rates re-checked. Next update at the 20 September 2026 indexation.