Age Pension: the income and assets tests

You may qualify if you are aged 67 or over, are an Australian resident, and meet the income and assets tests. Full eligibility at Services Australia.

• Single: $1,237.70/fortnight (includes Pension Supplement + Energy Supplement)
• Partnered (each): $933.00/fortnight

Income-free area (full pension paid up to):

• Single: $212/fortnight
• Partnered (combined): $372/fortnight

Above the free area, pension reduces by 50 cents per dollar of income. The pension cuts out when income exceeds approximately $2,500/fn (single) — varies with circumstances.

From 20 September 2026, the assets test free area for a homeowner:

• Single homeowner: $314,000
• Partnered homeowner (combined): $470,000
• Single non-homeowner: $566,000
• Partnered non-homeowner (combined): $722,000

Above the free area, pension reduces by $3.00 per fortnight for each $1,000 of assets. Use the pension estimator to calculate your rate.

Centrelink calculates your rate under both tests and pays the lower result. If the assets test gives you $800/fn and the income test gives $900/fn, you receive $800/fn.