In this guide
- Latest Age Pension rate changes (from 20 September 2024)
- When is the next Age Pension increase?
- How do I qualify for the Age Pension?
- What happens if only one member of a couple is eligible?
- How often is the Age Pension paid?
- Can you get an advance payment of the Age Pension?
- Can you also get rent assistance?
- Transitional Age Pension rates
Despite the growth in superannuation over the past three decades, the Age Pension is still a significant source of income for most Australian retirees. According to Rice Warner, roughly 39% of Australians of Age Pension age receive the full Age Pension and a further 24% receive a part pension.
So how much income does the Age Pension provide?
Latest Age Pension rate changes (from 20 September 2024)
From 20 September 2024 the maximum full Age Pension increases $28.10 per fortnight for a single person, and $21.20 per person per fortnight for a couple.
The rates for a full Age Pension for Australians for the period 20 September 2024 to 19 March 2025 are listed below:
- Single: $1,144.40 per fortnight (approximately $29,754 per year)
- Couple (each): $862.60 per fortnight (approximately $22,428 per year)
- Couple (combined): $1,725.20 per fortnight (approximately $44,855 per year)
- Couples separated due to illness each receive the Single rate (see above), which combined is $2,288.80 (approximately $59,509 per year)
The tables below provide more detail in terms of the latest increase and how the Age Pension is broken down.
Age Pension rates for a single person
| Amount | Increase | |
|---|---|---|
| Maximum base rate | $1,047.10 | $26.50 |
| Maximum pension supplement | $83.20 | $1.60 |
| Energy supplement | $14.10 | – |
| Total (per fortnight) | $1,144.40 | $28.10 |
| Total (per year)* | $29,754 | $731 |
Age Pension rates for a couple living together
| Amount (each) | Increase (each) | Amount (combined) | Increase (combined) | |
|---|---|---|---|---|
| Maximum base rate | $789.30 | $20.00 | $1,578.60 | 40.00 |
| Maximum pension supplement | $62.70 | $1.20 | $125.40 | $2.40 |
| Energy supplement | $10.60 | – | $21.20 | – |
| Total (per fortnight) | $862.60 | $21.20 | $1,725.20 | $42.40 |
| Total (per year)* | $22,428 | $551.20 | $44,855 | $1,102.40 |
Source: Services Australia. Applicable 20 September 2024 to 19 March 2024
*Annual amounts are approximate.
When is the next Age Pension increase?
The Age Pension rates will potentially change on 20 March 2025. An increase is highly likely since inflation is still strong. The Australian Bureau of Statistics evaluates the extent of the increase based on changes in the Consumer Price Index (CPI), Male Total Average Weekly Earnings, and the Pensioner and Beneficiary Living Cost Index. Increases are not always certain. For example in September 2020 the Age Pension rates did not increase, although that was for the first time since 1997.
Age Pension rates and the upper thresholds for the assets and income tests used to determine eligibility for a part Age Pension are adjusted in March and September each year. The lower limits used to determine eligibility for the full Age Pension change in July each year.
How do I qualify for the Age Pension?
To be eligible for the Australian Age Pension you must have reached Age Pension age (which depends on your date of birth but is now 67), satisfy Australian residency rules, and pass both an income test and an assets test. Depending on your level of income and the assets you own, you may qualify for either a full or part Age Pension.
Assets test
Singles
To qualify for a full Age Pension as a single person your assets must also be valued below $314,000 if you own your own home, or $566,000 if you don’t own your own home.
You can still be eligible for a part Age Pension if your assets are worth less than $695,500 if you own your own home, or $947,500 if you don’t own your own home.
Couples
For a couple to qualify for the full Age Pension, your combined assets must be below $470,000 if you own your own home, or $722,000 if you don’t own your own home.
You can still be eligible for a part Age Pension if your assets are worth less than $1,045,500 if you own your own home, or $1,297,500 if you don’t own your own home.
Income test
Singles
To qualify for a full Age Pension as a single person your income must be below $212 per fortnight (approximately $5,512 per year), but you can still be eligible for a part Age Pension if you earn less than $2,500.80 per fortnight (approximately $65,021 per year).
Couples
For a couple, to qualify for the full Age Pension your combined income must be below $372 per fortnight (approximately $9,672 per year), but you can still be eligible for a part Age Pension if you earn less than $3,822.40 per fortnight (approximately $99,382 per year).
It’s important to note that you can earn up to $300 per person per fortnight (up to $11,800 per year) from working and this amount is not included in the Age Pension income test. This is known as the work bonus.
If you are over the threshold limits for a full Age Pension in either the assets or income tests (or both), your Age Pension will be based on the test that delivers the lower amount. For example, if you are eligible for $400 per fortnight according to the assets test, and $500 per fortnight through the income test, then the assets test ($400 per fortnight) will apply.
What happens if only one member of a couple is eligible?
This is a common question. If you’re in a living arrangement with your partner and only one of you is eligible for the Age Pension, do you receive the single rate or half of the combined couple rate?
The answer is you will be assessed under the income and assets tests as a couple and, if eligible, you will receive half the combined couple rate. This is best illustrated with an example.
If you receive the Age Pension, you’ll automatically be paid a pension supplement. You’ll receive the maximum rate if you’re eligible to receive the full pension, but if you’re only eligible for a part pension (for example if your income or assets exceed the thresholds in the Age Pension income or assets tests), your pension supplement will be reduced proportionally until it reaches the minimum amount.
The minimum and maximum pension supplement amounts per fortnight for single and couple part pensioners are provided in the table below.
| Situation | Minimum pension supplement | Maximum pension supplement |
|---|---|---|
| Single | $44.80 | $83.20 |
| Couple living together | $33.80 each (or $67.60 combined) | $62.70 each (or $125.40 combined) |
| Couple separated due to illness, respite or prison | $44.80 each (or $89.60 combined) | $83.20 each (or $166.40 combined) |
Source: Services Australia. Figures apply from 20 September 2024.
You can arrange to have the pension supplement paid quarterly rather than fortnightly if you prefer, to help you budget for regular quarterly bills like electricity.
Unlike the Age Pension supplement, the energy supplement is only available to certain Age Pensioners. If you’re receiving the Age Pension, you aren’t eligible for the energy supplement if you have a Commonwealth Seniors Health Card (CSHC) issued after 20 September 2016. If you received your CSHC before this date, you’re still eligible to receive the energy supplement.
If you are eligible for the energy supplement, you’ll receive the same amount whether you’re on a full or part Age Pension. Payments differ only based on whether you’re single or part of a couple, as outlined in the table at the top of this article.
How often is the Age Pension paid?
The Age Pension is normally paid fortnightly, but you can apply to Services Australia (via Centrelink) to receive weekly payments if you are:
- Homeless (or risk becoming homeless)
- Having trouble managing your money.
Can you get an advance payment of the Age Pension?
Yes. If you’ve been receiving the Age Pension for at least three months, you can apply to get one to three advance payments. If you’re approved, in any six-month period you’re entitled to receive the following amounts if you’re receiving a full pension:
| Living arrangement | Lowest amount (you can receive three of these amounts) | Highest amount (you can receive one payment of this amount) |
|---|---|---|
| Single | $529.15 | $1,587.45 |
| Couple | $398.85 | $1,196.55 |
Source: Services Australia. Figures correct as at 1 July 2024.
If you’re receiving a part Age Pension, the amounts you can receive are adjusted proportionally.
Your future Age Pension entitlement will be adjusted for any advance payments you receive so you can repay amounts owing over time.
Can you also get rent assistance?
If you’re receiving the Age Pension, you may be entitled to rent assistance (including any fees you may be paying a retirement village, provided that the Australian government isn’t already paying a subsidy to the facility where you live).
To receive assistance, you must be paying a minimum amount of rent. These rates are adjusted in March and September each year based on movements in the CPI. Current rates for Age Pensioners without any dependent children are outlined in the table below. If you pay more than these amounts, you’re entitled to 75 cents of rent assistance for every dollar you pay over the threshold, up to the maximum amount.
| Living arrangement | Minimum fortnightly rent to qualify for assistance | Maximum fortnightly rent assistance payment |
|---|---|---|
| Single | $149.00 | $211.20 |
| Couple (combined) | $241.40 | $199.00 |
Source: Services Australia. Figures apply from 20 September 2024.
Transitional Age Pension rates
Some Age Pensioners in Australia are on transitional pensions. Transitional pension rates are paid to people who would otherwise be getting a lower payment after changes to the income test were introduced in 2009.
Transitional rates for Australian residents
- Single: $941.10 per fortnight (approximately $24,469 per year) – an increase of $18.20 per fortnight
- Couple (each): $759.30 per fortnight (approximately $19,742 per year) – an increase of $14.70 per fortnight
- Couple (combined): $1,518.60 per fortnight (approximately $39,484 per year) – an increase of $29.40 per fortnight
- Couples separated due to illness each receive the Single rate, which combined is $1,882.20 (approximately $48,937 per year) – an increase of $36.40 per fortnight
If you’re being paid a transitional rate of pension, you’re not eligible for the pension supplement but you can potentially get the energy supplement (provided you received your Commonwealth Seniors Health Card, if you have one, prior to 20 September 2016).
The tables below give more detail of how the transitional Age Pension is broken down:
| Single | Amount | Increase |
|---|---|---|
| Maximum transitional pension rate | $927.00 | $18.20 |
| Energy supplement | $14.10 | – |
| Total (per fortnight) | $941.10 | $18.20 |
| Couple (living together) | Amount each | Increase | Amount combined | Increase |
|---|---|---|---|---|
| Maximum transitional pension rate | $748.70 | $14.70 | $1,497.40 | $29.40 |
| Energy supplement | $10.60 | – | $21.20 | – |
| Total (per fortnight) | $759.30 | $14.70 | $1,518.60 | $26.00 |
Source: Services Australia
Transitional rates for non-residents or those absent for more than 6 weeks
If you live outside Australia and qualify for the Age Pension, the rates are as follows:
- Single: $850.00 per fortnight (approximately $22,100 per year) – an increase of $16.70 per fortnight
- Couple (each): $710.40 per fortnight (approximately $18,470 per year) – an increase of $13.90 per fortnight
- Couple (combined): $1,420.80 per fortnight (approximately $36,941 per year) – an increase of $27.80 per fortnight
- Couples separated due to illness each receive the Single rate (see above), which combined is $1,700.00 (approximately $44,200 per year) – an increase of $33.40 per fortnight
The information contained in this article is general in nature.
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