Menu

Centrelink Payments | Age Pension Eligibility 

(Information current as at 9 July 2019)

Reached age pension age:

If your birthdate is:  You'll be old enough at: 
Prior to 30 June 1952  65 years 
1 July 1952 to 31 December 1953  65 years and 6 months 
1 January 1954 to 30 June 1955 66 years 
1 July 1955 to 31 December 1956  66 years and 6 months 
From 1 January 1957  67 years 

Under the income and assets test limits

Pensions have income and asset limits. If you are over these limits, you get a lower pension.

Income Test
Centrelink assess your income from all sources. This included financial assets such as superannuation. To work out how much your financial assets are worth as income, they use deeming.

If you're Pension will not be paid when your fortnightly income reaches:
Single $2,026.40
A couple living together $3,100.40
A couple living apart due to ill health $4,012.80

Asset Test
Pensions will not be paid when your assets are more than the amounts below.

If you're Homeowner Non-homeowner 
Single $572,000 $782,000
A couple, combined $860,000 $1,070,500
A couple, separated due to illness, combined $1,012,000 $1,222,500
A couple, 1 partner eligible, combined $860,000 $1,070,500

FOR MORE: information on income and assets test please see:  https://www.humanservices.gov.au/individuals/services/centrelink/age-pension/how-much-you-can-get/income-test-pensions 

An Australian resident, normally for at least 10 years

To get Age Pension, you need to have been an Australian resident for at least 10 years in total. For at least 5 of these years, there must be no break in your residency.

FOR MORE: information to determine which payments you are eligible for please visit the following website:
https://www.humanservices.gov.au/

If you would like to print this information please click here for PDF format.

Disclaimer:
The information provided in this information sheet does not constitute advice. The information is of a general nature only and does not take into account your individual financial situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.

Our Services

Services that assist in increasing profitability, build value, and protect your wealth.

Accounting & Tax
Business Advisory
Wealth Creation & Preservation
Succession & Retirement Planning
Self Managed Superannuation Funds

 

Industry Focus

We are not just your accountant, we are your business advisor, here to support you and your business. We specialise and focus within the following industries:

Brentnalls Agribusiness
Brentnalls Construction
Brentnalls Health

Resources

Our resources provide additional supporting information in the following areas: 

Newsletters
Fact Sheets
Internet Links
Checklists

Our Location

255 Port Road
HINDMARSH SA 5007

PO Box 338
Welland SA 5007 

View location map

P: (08) 8241 8444
F: (08) 8241 8488
E: admin@brentnalls-sa.com.au

Connect with us on LinkedIn.  Connect with us on Facebook.