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.
I have worked and payed taxes my whole life l am 70 years old brought a younger partner from overseas to Australia and now have been penalised for it the liberals did robodebt and ripped people of now centrelink is ripping me of so labour is no different it is a disgrace how the government treats old age pensioners like second class citizens don’t get me going
I was on Job seaker dissabillity pension for bad injury, and my wife was on job seaker pention as she suffers with deppression. I was told I had to come off Js and go on aged pention. I thought ok great. My wife then is no longer getting js and I only get 1/2 aged pention at couples rate. Our income is now halved. If we devorce we both get paid again.
I thought Retirement was suppose to be the Golden Years nothing golden about living in poverty,I had to give up my job due to massive surgery and ongoing health issues I didn’t ask to get sick I just wanted to work in the job I loved caring for our seniors I feel like we are a forgotten people nearly half my pension goes in rent WHERE IS A PENSIONERS QUALITY OF LIFE,ARE we condemned to end our days in poverty after working since I was 13.
My husband receives his pension on Mondays. Today is 21st of March and we were expecting it to increase today. Nada. I suppose Centrelink will catch up but I am surprised he didn’t receive the increase as they are generally spot on. Is anyone else in the same boat?
Wow, $7.50 a week , have you, the government been shopping in the last few months? And what about house prices, if your house price soars, do I have to sell, so I can still get the pension? I have nothing to do with house prices going up, but I could have my pension lowered.
20 dollars a fortnight is not enough it should have been weekly ,and rent assistant should have been the same ,carers should get a rise as well .
Why should the federal government or Centrelink use “market value “ in determining assert & income when capital value is used to determine our Rates & emergency services levy etc.(appears to be just another way of hurting pensioners)?
Just been approached by a man on the pension to do some work on my farm . He is looking for some extra income but want to still get full pension . He can only earn $178 / fortnight . But someone not on pension can about $400 before paying tax . I think this should be increased to help pensioners .
There is no incentive for pensioners with a partner who is working to work as a heavy penality is put on the partner in realtion to a drop in partners pension Gov are always attacking the people trying to get ahead but the so called job seekers who dont want to work keep getting more n more not a system that is fair let people get ahead who r prepared to work needs to be reviewed
Ideally a couple would merge their finances. As the female has usually done unpaid work at home caring for a family, when it comes to finances she doesn’t have the same amount of assets. But some couples, usually the males won’t do that and yet still expect their partner to contribute half to the cost of running a home. If the male partner doesn’t like spending money on maintaining the home the women either puts up with the rundown bathroom etc or pays for repairs herself. This does happen, thankfully not at my home.
I strongly agree with all the comments. It’s so sad that having to work all your life even while raising a family and paying your taxes as an individual, when it comes for the pension not only you are not seeing as a single person for the calculation of the pension but you are also penalized if you happened to receive death lump sum payment and any superannuation from your decided partner. Further more if you give as gift some of this money’s to your children this is taken into account and you can not receive the full pension. Have to wait for five years.
Again I am stating if you are paying taxes individuality while you working why you can not been seen as an individual when you apply for the pension and your partner husband or wife and their financial status is taken into account?
Why should you get government support just because you have reached a certain age? A lot of people say that they have paid taxes, so they are “owed something” by society.
What about the pensioner that did not pay taxes through their lives. Why should they get any pension?
Why should pensioners in multi-million dollar houses, with no living expenses, be supported by young families struggling with childhood poverty?
The pension us/was the world’s greatest vote grabbing pyramid scheme that needs to be slowly ground to a halt.
It is sad to read the multiple comments here saying “won’t have to deal with this for much longer” from those who are seeing the light at the end of the tunnel being their nearing mortality.
As with previous comments here, I have contributed with taxes over the decades, and did not benefit from “first home buyers grant” or have child care payments covered by government, or family benefits payments when raising family, and don’t have superannuation – Compulsory superannuation only started later in my working life, and was patchy for me, was only a small amount put aside, and then used up when required during financial hardship It seems expected that we all have superannuation to supplement pensions which is not the case.
I also still have a mortgage. Due to previous financial difficulties I didn’t have the benefit of getting the mortgage paid off. The pension is not enough for basic living expenses, and it certainly doesn’t stretch for those of us who still have mortgage payments. Which leaves no scope for food, electricity, rates etc. My only conclusion is that I just cannot afford to live – it is difficult to feel worthless!
There is not much in the way of work opportunities to find some employment for some extra income – ageism!
And now with Covid, our age group isn’t supposed to be out mixing, which would be happening in jobs such as retail and hospitality. (The more mature cashiers at the supermarkets have been replaced by younger ones now) So there would be pensioners who have been able to supplement their income with some part time work but now can’t.
The recent boost to Jobseeker demonstrates that the government does know that the original rate is not viable. And the age pension is not much more than that – and has not benefited from the recent jobseeker supplement.
Pensioners have contributed for decades and should not be forsaken, especially at a time when their needs are greater, often with medical conditions and also other areas of need. Why is the aged sector of the community forgotten and overlooked. And apparently expected, despite not having large incomes during working life, to have accrued a large pot of funds to live on in the “golden years”.
Why are pensioners forgotten and “invisible” !
When is there going to be a decent increase in the pension rate?
I have 2 complaints re pensions. 1. Rate of increase compared to rate of increase in cost of living. We have discussed this amongst ourselves and all agree that since Oct/Nov 2019, our grocery costs have increased app $25-$50 per fortnight. It has become much harder to make ends meet and for those of us who have to live from pension to pension, it is depressing and draining, and now with the virus, we have to wait till pension day to afford to get stocks (if we can). 2. I live in a retirement village and paid $135k for my unit at a time when the cut off was $135k. I had some plumbing and electrical work done ie extra electrical outlets and taps which was my expense. I didn’t realise at the time but the contract stated $139k and I was given a letter to explain unit cost was $135k as I was assured that I was eligible for Rent Assistance. Imagine my distress when told that it was declined. I had nothing and had borrowed money from family to pay for unit. I appealed decision – declined. I went to tribunal – declined. It seemed straightforward to me. Cutoff was price of unit, and price of unit was $135k. Even though I had proof (letter/invoices), they only look at contract. Many tears followed and even to this day, it is upsetting to discuss. Anyway, thanks to the Govt for our payment but personally, I would have preferred extra $100 or so fortnightly. But thanks, I appreciate it
How do Pensioners live with the cost of Electricity, Gas Water, food medication etc I would like our Prime Minister and pollies to live as the pensioner does wake up Morrisson on his half a million per year I feel sorry for him maybe we should open a charity page for him Pollies make me sick through and through
May I suggest that recipients of a Full or Part Age Pension (thus limiting asset size) be permitted to invest in the Federal Government’s Future Fund. It’s solid, has good backing and research, and pays a sensible steady dividend. Fees would bbe minimal and we wouldn’t get caught up in the Mortgage Trust mess that cost so many of us lotsa dollars, we’d avoid the various Income Trusts/Funds that effectively pay sweet bugger all ….. and the Superannuation Industry would get a kick in the pants.
since 1998 the pension has doubled but everything else has tripled or more .
Electricity alone has gone up %300 plus $350 supply charge each year plus G.S.T.
the politicians have given themselves more in the bank in the last 12 months with 2 tax cuts and a %2,5 pay rise than the total ammount a married person gets as a carer or disabled for the year
I received a $1.50 per week pay rise in benefits
MR PALMER SAID AT THE ELECTION THAT PENSIONERS SHOULD GET A $150 pay increase and it would be nice
why is it 100million dollars can be found for farmers who have many choices like doing something different for a job.selling up and move to where work is .put something away for the bad years and plan for them
Can the aged stop aging.can the disabled cure themselves.Who will look after them and why would you want to when you have to be there 24/7to care for them and for this i receive$75 /week more than the unemployed
and get rewarded for my efforts with%.004 of a pension increase.
Electricity has gone up 300% plus $360 for supply charges since 1998. Gas, water, food, rego, insurances, council rates, petrol, licences, in fact every thing govt related has gone up well above the pension rate which has increased by %100 in 1998 .for a married person from $9,000 to about $18,000.
Politicians received more than that in there bank this year alone with there 2 tax cuts plus a pay rise.At least $20,000. The next rise should be a minimum of 1.5% as the last payment in March was 0.08% and according to the prime minister indexation was at 2.3% but that is a lie.I can name plenty that has gone up more than 2.3% in fact I would say everything has gone up more than that in the last 12 months.
I wonder if the $804 given to certain recipients includes the annual payment that is due in September%1.5 and if so then it is misleading as they will get an extra approximate amount of around $540 there has not been a substantial increase for nearly 10 years and the govt should be ashamed as most retirees, disabled, carers and the elderly certainly deserve to be looked after ,After all post war people and there children built this country .what has the generation done. We fought for the 38 hour week, penalty rates, holidays and just about every thing else this generation benefits from and now we are the forgotten. When I go I will be proud of my achievements. How many politicians can say that without lying.
I sit here and shake my head wondering why do a few people keep on insisting that the pension the over 65 receive is not an entitlement, but a handout as they try telling us it is a social security benefit we receive from the Government. How wrong are those who keep on telling us, we who are retired, that it is as follows >>>>> The Pension is social security and is not related to how hard you have worked or for how long.
It is insurance, like Medicare, you pay into it may rarely use it. It is not welfare, but available to everyone who does not have sufficient to live on in the later years. <<>> When in The Netherlands, no matter how well off you are, you do not even have to pay any taxes, all you have to do, is to prove you lived in the Netherlands, for every year you lived in the Netherlands, when you reach retirement age you receive 2% of the full pension for every year after your 16th birthday, you lived in the Netherlands, I am a good example, I never worked in the Netherlands, I did study and lived in the Netherlands. I do receive 12% of the Dutch pension known as AOW and by the way I live in Australia >>> The question is >>> Who can receive an AOW pension? AOW is the Dutch word for the pension
If you have lived or worked in the Netherlands, after you reached 16 <<< you do not even have to work in the Netherlands to receive a pension, most people who do not live in the Netherlands, does not realise that the retired Queen of the Netherland ( one of the richest woman in the world) receives a Dutch pension.) Yes people of Australia we do pay for our social security benefits, although no where does it state it. Part of our taxes is placed into social security.