Age Pension: Income test thresholds rise 1 July 2014

The LOWER and UPPER income thresholds for the Age Pension income test lift again on 1 July 2014, which means more Australians are now eligible for a FULL Age Pension, and more Australians will now be eligible for a PART Age Pension.

A single person can earn just under $48,000 a year, and still receive a PART Age Pension, while a couple can earn just over $73,000 a year and still receive a small PART Age Pension. Tables outlining the income test thresholds are set out later in the article.

Background: An eligible individual must satisfy the Age Pension income test, and the Age Pension assets test to receive a FULL, or PART, Age Pension. The amount of Age Pension will be based on the test that delivers the lowest amount on Age Pension entitlement. If an individual fails one of the tests, then he or she will not be eligible for the Age Pension.

The income test threshold for FULL Age Pension entitlements is adjusted only once a year, and I call this threshold the LOWER threshold. The LOWER threshold for the income test, that is, the income limit that entitles an individual to a FULL Age Pension, is normally adjusted in line with the Consumer Price Index (measures inflation) on 1 July of each year. For a FULL Age Pension, from 1 July 2014, a single person can earn up to $4,160 a year, while a couple (combined) can earn up to $7,384 a year.

The additional adjustments to the thresholds in March and September affect Australians seeking a PART Age Pension. The income test UPPER threshold is adjusted on 1 July of each year, and also adjusted in March and September of each year. The UPPER threshold is the limit that determines an individual’s eligibility to a PART Age Pension.

In summary, due to the six-monthly changes in the Age Pension rate, and the annual indexation of the income test thresholds, the UPPER threshold of the Age Pension income test is adjusted 3 times a year – in March, July and September.

Note: The actual rate of Age Pension is adjusted twice a year, in March and September. Currently, the Age Pension is adjusted in line with the highest of the Consumer Price Index, Male Average Weekly Total Earnings (MWATE) or Pensioner and Beneficiary Living Cost Index increases. The Pensioner and Beneficiary Living Cost Index is designed to index base pension rates when the living cost index is higher than the Consumer Price Index (inflation). (If you are looking for the latest Age Pension rates, you will find these rates in the SuperGuide article Age Pension: March 2014 rates now available.

What are the Age Pension income test thresholds?

This article sets out 20 tables (2 for each timeframe) that list the income test thresholds for the following timeframes:

  • From 1 July 2014 until 19 September 2014 (current thresholds)
  • From 20 March 2014 until 30 June 2014
  • From 20 September 2013 until 19 March 2014
  • From 1 July 2013 to 19 September 2013
  • From 20 March 2013 until 30 June 2013
  • From 20 September 2012 until 19 March 2013
  • From 1 July 2012 until 19 September 2012
  • From 20 March 2012 until 30 June 2012
  • From 20 September 2011 until 19 March 2012
  • From 1 July 2011 until 19 September 2011

Income test thresholds effective from 1 July 2014

Note: For income test thresholds applicable before 1 July 2014, see later in the article. 

The Age Pension income test threshold for the FULL Age Pension (effective from 1 July 2014 and updated again on 1 July 2015), and for a PART Age Pension (effective from 1 July 2014 until updated again on 20 September 2014), is set out in the table below.

Age Pension INCOME test thresholds
Situation FULL Age Pension (effective from 1 July 2014 until 30 June 2015) PART Age Pension (effective from 1 July 2014 until 19 September 2014)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $160 $4,160 $1,845.60 $47,986
Couple (combined) $284 $7,384 $2,825.20 $73,455
Couple (separated due to illness) (combined) $284 $7,384 $3,655.20 $95,035

Source: Income thresholds are sourced from DHS (Centrelink). The income test thresholds for FULL Age Pension is adjusted annually on 1 July, and for the PART Age Pension adjusted on 1 July, and then adjusted again on 20 March and 20 September. The annualised threshold income figures are calculated by Trish Power.

The Age Pension income test for Transitional Rate FULL Age Pension eligibility (effective from 1 July 2014, until updated again on 1 July 2015) and Transitional Rate PART Age Pension eligibility (effective from 1 July 2014 until 19 September 2014) is set out in the table below. According to Centrelink, the notional maximum pension entitlement for transitional rate pensioners (including the Clean Energy Supplement), effective from March 2014, is $713.70 per fortnight for a single pensioner and $1,151.20 per fortnight combined for pensioner couples.

Age Pension INCOME test thresholds–Transitional Rate
Situation FULL age Pension (effective from 1 July 2014 until 30 June 2015) PART Age Pension (effective from 1 July 2014 until 19 September 2014)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $160 $4,160 $1,944.25 $50,550
Couple (combined) $284 $7,384 $3,162.00 $82,212
Couple (separated due to illness) (combined) $284 $7,384 $3,852.50 $100,165

Source: DHS (Centrelink). The income test thresholds for Transitional Rate FULL Age Pension is adjusted annually on 1 July, and for Transitional Rate PART Age Pension is adjusted on 1 July, and on 20 March, and 20 September. If you’re a non-resident eligible for a transitional rate Age Pension, then your income test thresholds are slightly different: see Centrelink website for relevant income thresholds. The annualised threshold income figures are calculated by Trish Power.

For income test thresholds applicable before 1 July 2014, see tables later in this article. You can find more information about the Age Pension rules by reading the following SuperGuide articles:

Income test thresholds effective from 20 March 2014

Note: For income test thresholds applicable before 20 March 2014, see later in the article. 

The Age Pension income test threshold for the FULL Age Pension (effective from 1 July 2013 and updated again on 1 July 2014), and for a PART Age Pension (effective from 20 March 2014 until updated again on 20 September 2014), is set out in the table below.

Age Pension INCOME test thresholds
Situation FULL Age Pension (effective from 1 July 2013 until 30 June 2014) PART Age Pension (effective from 20 March 2014 until 30 June 2014)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $156 $4,056 $1,841.60 $47,882
Couple (combined) $276 $7,176 $2,817.20 $73,247
Couple (separated due to illness) (combined) $276 $7,176 $3,647.20 $94,827

Source: Income thresholds are sourced from DHS (Centrelink). The income test thresholds for FULL Age Pension is adjusted annually on 1 July, and for the PART Age Pension adjusted on 1 July, and then adjusted again on 20 March and 20 September. The annualised threshold income figures are calculated by Trish Power.

The Age Pension income test for Transitional Rate FULL Age Pension eligibility (effective from 1 July 2013, until updated again on 1 July 2014) and Transitional Rate PART Age Pension eligibility (effective from 20 March 2014 until 30 June 2014) is set out in the table below. According to Centrelink, the notional maximum pension entitlement for transitional rate pensioners (including the Clean Energy Supplement), effective from March 2014, is $713.70 per fortnight for a single pensioner and $1,151.20 per fortnight combined for pensioner couples.

Age Pension INCOME test thresholds–Transitional Rate
Situation FULL age Pension (effective from 1 July 2013 until 30 June 2014) PART Age Pension (effective from 20 March 2014 until 30 June 2014)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $156 $4,056 $1,940.25 $50,447
Couple (combined) $276 $7,176 $3,154.00 $82,004
Couple (separated due to illness) (combined) $276 $7,176 $3,844.50 $99,957

Source: DHS (Centrelink). The income test thresholds for Transitional Rate FULL Age Pension is adjusted annually on 1 July, and for Transitional Rate PART Age Pension is adjusted on 1 July, and on 20 March, and 20 September. If you’re a non-resident eligible for a transitional rate Age Pension, then your income test thresholds are slightly different: see Centelink website for relevant income thresholds. The annualised threshold income figures are calculated by Trish Power.

Income test thresholds effective from 20 September 2013

Note: For income test thresholds applicable before 20 September 2013, see later in the article. 

The Age Pension income test threshold for the FULL Age Pension (effective from 1 July 2013 and updated again on 1 July 2014), and for a PART Age Pension (effective from 20 September 2013 until updated again on 20 March 2013), is set out in the table below.

Age Pension INCOME test thresholds
Situation FULL Age Pension (effective from 1 July 2013 until 30 June 2014) PART Age Pension (effective from 20 September 2013 until 19 March 2014)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $156 $4,056 $1,810.20 $47,065
Couple (combined) $276 $7,176 $2,769.60 $72,010
Couple (separated due to illness) (combined) $276 $7,176 $3,584.40 $93,194

Source: Income thresholds are sourced from DHS (Centrelink). The income test thresholds for FULL Age Pension is adjusted annually on 1 July, and for the PART Age Pension adjusted on 1 July, and then adjusted again on 20 March and 20 September. The annualised threshold income figures are calculated by Trish Power.

The Age Pension income test for Transitional Rate FULL Age Pension eligibility (effective from 1 July 2013, until updated again on 1 July 2014) and Transitional Rate PART Age Pension eligibility (effective from 20 September 2013 until 19 March 2014) is set out in the table below. According to Centrelink, the notional maximum pension entitlement for transitional rate pensioners (including the Clean Energy Supplement), effective from September 2013, is $700.50 per fortnight for a single pensioner and $1,129.80 per fortnight combined for pensioner couples.

Age Pension INCOME test thresholds–Transitional Rate
Situation FULL age Pension (effective from 1 July 2013 until 30 June 2014) PART Age Pension (effective from 20 September 2013 until 19 March 2014)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $156 $4,056 $1,907.25 $49,589
Couple (combined) $276 $7,176 $3,100.50 $80,613
Couple (separated due to illness) (combined) $276 $7,176 $3,778.50 $98,241

Source: DHS (Centrelink). The income test thresholds for Transitional Rate FULL Age Pension is adjusted annually on 1 July, and for Transitional Rate PART Age Pension is adjusted on 1 July, and on 20 March, and 20 September. If you’re a non-resident eligible for a transitional rate Age Pension, then your income test thresholds are slightly different: see Centelink website for relevant income thresholds. The annualised threshold income figures are calculated by Trish Power.

Income test thresholds effective from 1 July 2013 

Note: For income test thresholds applicable before 1 July 2013, see later in the article. 

The Age Pension income test threshold for the FULL Age Pension (effective from 1 July 2013 and updated again on 1 July 2014), and for a PART Age Pension (effective from 1 July 2013 until 19 September 2013), is set out in the table below.

Age Pension INCOME test thresholds
Situation FULL Age Pension (effective from 1 July 2013 until 30 June 2014) PART Age Pension (effective from 1 July 2013 until 19 September 2013)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $156 $4,056 $1,772.80 $46,093
Couple (combined) $276 $7,176 $2,713.60 $70,554
Couple (separated due to illness) (combined) $276 $7,176 $3,509.60 $91,250

Source: Income thresholds are sourced from DHS (Centrelink). The income test thresholds for FULL Age Pension is adjusted annually on 1 July, and for the PART Age Pension adjusted on 1 July, and then adjusted again on 20 March and 20 September. The annualised threshold income figures are calculated by Trish Power.

The Age Pension income test for Transitional Rate FULL Age Pension eligibility (effective from 1 July 2013, until updated again on 1 July 2014) and Transitional Rate PART Age Pension eligibility (effective from 1 July 2013 until 19 September 2013) is set out in the table below. According to FAHCSIA, the notional maximum pension entitlement for transitional rate pensioners (including the Clean Energy Supplement), effective from March 2013, is $694.80 per fortnight for a single pensioner and $1,120.80 per fortnight combined for pensioner couples.

Age Pension INCOME test thresholds–Transitional Rate
Situation FULL age Pension (effective from 1 July 2013 until 30 June 2014) PART Age Pension (effective from 1 July 2013 until 19 September 2013)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $156 $4,056 $1,893.00 $49,218
Couple (combined) $276 $7,176 $3,078.00 $80,028
Couple (separated due to illness) (combined) $276 $7,176 $3,750.00 $97,500

Source: DHs (Centrelink). The income test thresholds for Transitional Rate FULL Age Pension is adjusted annually on 1 July, and for Transitional Rate PART Age Pension is adjusted on 1 July, and on 20 March, and 20 September. If you’re a non-resident eligible for a transitional rate Age Pension, then your income test thresholds are slightly different: see Centrelink website for relevant income thresholds. The annualised threshold income figures are calculated by Trish Power.

Income test thresholds effective from 20 March 2013

Note: For income test thresholds applicable before 20 March 2013, see later in the article.

The Age Pension income test threshold for the FULL Age Pension (effective from 1 July 2012 and updated again on 1 July 2013), and for a PART Age Pension (effective from 20 March 2013 until updated again on 1 July 2013), is set out in the table below.

Age Pension INCOME test thresholds
Situation FULL Age Pension (effective from 1 July 2012 until 30 June 2013) PART Age Pension (effective from 20 March 2013 until 30 June 2013)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $152 $3,952 $1,768.80 $45,989
Couple (combined) $268 $6,968 $2,705.60 $70,346
Couple (separated due to illness) (combined) $268 $6,968 $3,501.60 $91,042

Source: Income thresholds are sourced from FAHCSIA http://www.fahcsia.gov.au/sites/default/files/documents/03_2013/indexation_pension_rates_march2013.pdf The income test thresholds for FULL Age Pension is adjusted annually on 1 July, and for the PART Age Pension adjusted on 1 July, and then adjusted again on 20 March and 20 September. The annualised threshold income figures are calculated by Trish Power.

The Age Pension income test for Transitional Rate FULL Age Pension eligibility (effective from 1 July 2012, until updated again on 1 July 2013) and Transitional Rate PART Age Pension eligibility (effective from 20 March 2013 until 30 June 2013) is set out in the table below. According to FAHCSIA, the notional maximum pension entitlement for transitional rate pensioners (including the Clean Energy Supplement), effective from March 2013, is $694.80 per fortnight for a single pensioner and $1,120.80 per fortnight combined for pensioner couples.

Age Pension INCOME test thresholds–Transitional Rate
Situation FULL Age Pension (effective from 1 July 2012 until 30 June 2013) PART Age Pension (effective from 20 March 2013 until 30 June 2013)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $152 $3,952 $1,889.00 $49,114
Couple (combined) $268 $6,968 $3,070.00 $79,820
Couple (separated due to illness) (combined) $268 $6,968 $3,742.00 $97,292

Source: FAHCSIA http://www.fahcsia.gov.au/sites/default/files/documents/03_2013/indexation_pension_rates_march2013.pdf The income test thresholds for Transitional Rate FULL Age Pension is adjusted annually on 1 July, and for Transitional Rate PART Age Pension is adjusted on 1 July, and on 20 March, and 20 September. If you’re a non-resident eligible for a transitional rate Age Pension, then your income test thresholds are slightly different: see FAHCSIA link in this paragraph for relevant income thresholds. The annualised threshold income figures are calculated by Trish Power.

Income test thresholds effective from 20 September 2012

Note: For income test thresholds applicable before 20 September 2012, see later in the article.

The Age Pension income test threshold for the FULL Age Pension (effective from 1 July 2012 and updated again on 1 July 2013), and for a PART Age Pension (effective from 20 September 2012 until updated again on 20 March 2013) is set out in the table below.

Age Pension INCOME test thresholds
Situation FULL Age Pension (effective from 1 July 2012 until 30 June 2013) PART Age Pension (effective from 20 September 2012 until 19 March 2013)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $152 $3,952 $1,697.20 $44,127
Couple (combined) $268 $6,968 $2,597.60 $67,538
Couple (separated due to illness) (combined) $268 $6,968 $3,358.40 $87,318

Source: FAHCSIA http://jennymacklin.fahcsia.gov.au/node/2051 The income test thresholds for FULL Age Pension is adjusted annually on 1 July, and for the PART Age Pension adjusted on 1 July, and then adjusted on 20 March and 20 September. The annualised threshold income figures are calculated by Trish Power.

The Age Pension income test for Transitional Rate FULL Age Pension eligibility (effective from 1 July 2012, until updated again on 1 July 2013) and Transitional Rate PART Age Pension eligibility (effective from 20 September 2012 until 19 March 2013) is set out in the table below. According to Centrelink, the notional maximum pension entitlement for transitional rate pensioners, effective from September 2012, is $675.20 per fortnight for a single pensioner and $1,090.60 per fortnight combined for pensioner couples.

Age Pension INCOME test thresholds–Transitional Rate
Situation FULL Age Pension (effective from 1 July 2012 until 30 June 2013) PART Age Pension (effective from 20 September 2012 until 19 March 2013)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $152 $3,952 $1,840.00 $47,840
Couple (combined) $268 $6,968 $2,994.50 $77,857
Couple (separated due to illness) (combined) $268 $6,968 $3,644.00 $94,744

Source: FAHCSIA http://jennymacklin.fahcsia.gov.au/node/2051 The income test thresholds for Transitional Rate FULL Age Pension is adjusted annually on 1 July, and for Transitional Rate PART Age Pension is adjusted on 1 July, and on 20 March, and 20 September. If you’re a non-resident eligible for a transitional rate Age Pension, then your income test thresholds are slightly different: see FAHCSIA link for relevant income thresholds. The annualised threshold income figures are calculated by Trish Power.

Income test thresholds effective from 1 July 2012

Note: For income test thresholds applicable before 1 July 2012, see later in the article.

The Age Pension income test threshold for the FULL Age Pension (effective from 1 July 2012 and updated again on 1 July 2013), and for a PART Age Pension (effective from 1 July 2012 until updated again on 20 September 2012) is set out in the table below.

Age Pension INCOME test thresholds
Situation FULL Age Pension (effective from 1 July 2012 until 30 June 2013) PART Age Pension (effective from 1 July 2012 until 19 September 2012)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $152 $3,952 $1,663.00 $43,238
Couple (combined) $268 $6,968 $2,546.00 $66,196
Couple (separated due to illness) (combined) $268 $6,968 $3,290.00 $85,540

Source: FAHCSIA http://jennymacklin.fahcsia.gov.au/sites/default/files/1july2012_indexationrates.pdf . The income test thresholds for FULL Age Pension is adjusted annually on 1 July, and for the PART Age Pension adjusted on 1 July, and also on 20 March and 20 September. The annualised threshold income figures are calculated by Trish Power.

The Age Pension income test for Transitional Rate FULL Age Pension eligibility (effective from 1 July 2012, until updated again on 1 July 2013) and Transitional Rate PART Age Pension eligibility (effective from 1 July 2012 until 20 September 2012) is set out in the table below. According to Centrelink, the notional maximum pension entitlement for transitional rate pensioners, effective from March 2012, is $671.20 per fortnight for a single pensioner and $1,084.00 per fortnight combined for pensioner couples.

Age Pension INCOME test thresholds–Transitional Rate
Situation FULL Age Pension (effective from 1 July 2012 until 30 June 2013) PART Age Pension (effective from 1 July 2012 until 19 September 2012)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $152 $3,952 $1,830.00 $47,580
Couple (combined) $268 $6,968 $2,978.00 $77,428
Couple (separated due to illness) (combined) $268 $6,968 $3,624.00 $94,224

Source: FAHCSIA http://jennymacklin.fahcsia.gov.au/sites/default/files/1july2012_indexationrates.pdf. The income test threshold for Transitional Rate FULL Age Pension is adjusted annually on 1 July, and for Transitional Rate PART Age Pension is adjusted on 1 July, and also on 20 March, and 20 September. The annualised threshold income figures are calculated by Trish Power.

Income test thresholds (effective from 20 March 2012 until 30 June 2012)

Note: For income test thresholds applicable before 20 March 2012, see later in the article.

The Age Pension income test threshold for the FULL Age Pension (effective from 1 July 2011 and updated again on 1 July 2012), and for a PART Age Pension (effective from 20 March 2012 until updated again on 1 July 2012), is set out in the table below.

Age Pension INCOME test thresholds
Situation FULL Age Pension (effective from 1 July 2011 until 30 June 2012) PART Age Pension (effective from 20 March 2012 until 30 June 2012)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $150 $3,900 $1,661.00 $43,186
Couple (combined) $264 $6,864 $2,542.00 $66,092
Couple (separated due to illness) (combined) $264 $6,864 $3,286.00 $85,436

Source: Centrelink. The income test thresholds for FULL Age Pension are adjusted annually on 1 July, and for the part Age Pension adjusted on 1 July, and six monthly on 20 March and 20 September. The annualised threshold income figures are calculated by Trish Power.

The Age Pension income test for Transitional Rate FULL Age Pension eligibility (effective from 1 July 2011, until updated again on 1 July 2012) and Transitional Rate PART Age Pension eligibility (effective from 20 March 2012 until 30 June 2012) is set out in the table below. According to Centrelink, the notional maximum pension for transitional rate pensioners, effective from March 2012, is $671.20 per fortnight for a single pensioner and $1,084.00 per fortnight combined for pensioner couples.

Age Pension INCOME test thresholds–Transitional Rate
Situation FULL Age Pension (effective from 1 July 2011 until 30 June 2012) PART Age Pension (effective from 20 March 2012 until 30 June 2012)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $150 $3,900 $1,828.00 $47,528
Couple (combined) $264 $6,864 $2,974.00 $77,324
Couple (separated due to illness) (combined) $264 $6,864 $3,620.00 $94,120

Source: Centrelink. The income test thresholds for Transitional Rate FULL Age Pension is adjusted annually on 1 July, and for Transitional Rate PART Age Pension is adjusted on 1 July, and six monthly: on 20 March, and 20 September. The annualised threshold income figures are calculated by Trish Power.

Income test thresholds (effective from 20 September 2011 until 19 March 2012)

The Age Pension income test threshold for the FULL Age Pension (effective from 1 July 2011 and updated again on 1 July 2012), and a PART Age Pension (effective from 20 September 2011 until 19 March 2012) is set out in the table below.

Age Pension INCOME test thresholds
Situation FULL Age Pension (effective from 1 July 2011) PART Age Pension (effective from 20 Sept 2011 until 19 March 2012)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $150 $3,900 $1,647.60 $42,838
Couple (combined) $264 $6,864 $2,522.00 $65,572
Couple (separated due to illness) (combined) $264 $6,864 $3,259.20 $84,739

Source: Centrelink. The income test thresholds for FULL Age Pension are adjusted annually on 1 July, and for the PART Age Pension adjusted on 1 July, and six monthly on 20 March and 20 September. The annualised threshold income figures are calculated by Trish Power.

The Age Pension income test for Transitional Rate FULL Age Pension (effective from 1 July 2011 and updated again on 1 July 2012) and Transitional Rate PART Age Pension eligibility (effective from 20 September 2011 and until 19 March 2012) is set out in the table below. According to Centrelink, the notional maximum pension for transitional rate pensioners from 20 September 2011 (and until adjusted again on 20 March 2011) is $667.20 per fortnight for a single pensioner and $1,077.60 per fortnight combined for pensioner couples.

Age Pension INCOME test thresholds–Transitional Rate (effective from 20 September 2011)
Situation FULL Age Pension (effective from 1 July 2011) PART Age Pension (effective from 20 Sept 2011 until 19 March 2012)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $150 $3,900 $1,818.00 $47,268
Couple (combined) $264 $6,864 $2,958.00 $76,908
Couple (separated due to illness) (combined) $264 $6,864 $3,600.00 $93,600

Source: Centrelink. The income test thresholds for Transitional Rate FULL Age Pension is adjusted annually on 1 July, and for Transitional Rate PART Age Pension is adjusted on 1 July, and six monthly: on 20 March, and 20 September. The annualised threshold income figures are calculated by Trish Power.

Income test thresholds effective from 1 July 2011 until 19 September 2011

The Age Pension income test threshold for the FULL Age Pension (effective from 1 July 2011 and updated again on 1 July 2012) and the PART Age Pension (effective from 1 July 2011 until 19 September 2011) is set out in the table below.

Age Pension INCOME test thresholds (effective from 1 July 2011)
Situation FULL Age Pension PART Age Pension (effective from 1 July 2011 until 19 Sept 2011)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $150 $3,900 $1,608.60 $41,824
Couple (combined) $264 $6,864 $2,462.80 $64,033
Couple (separated due to illness) (combined) $264 $6,864 $3,181.20 $82,711

Source: Centrelink. The income test thresholds for FULL Age Pension is adjusted annually on 1 July, and for the PART Age Pension adjusted on 1 July, and six monthly on 20 March and 20 September. The annualised threshold income figures are calculated by Trish Power.

The Age Pension income test for Transitional Rate FULL Age Pension eligibility (effective from 1 July 2011 and updated again on 1 July 2012) and Transitional Rate PART Age Pension eligibility (effective from 1 July 2011 until 19 September 2011) is set out in the table below. According to Centrelink, the notional maximum pension for transitional rate pensioners, effective from March 2011, is $650.90 per fortnight for a single pensioner and $1,051.40 per fortnight combined for pensioner couples.

Age Pension INCOME test thresholds–Transitional Rate (effective from 1 July 2011)
Situation FULL Age Pension PART Age Pension (effective from 1 July 2011 until 19 Sept 2011)
Per fortnight Annual income (approx.) Per fortnight Annual income (approx.)
Single $150 $3,900 $1,777.25 $46,209
Couple (combined) $264 $6,864 $2,892.50 $75,205
Couple (separated due to illness) (combined) $264 $6,864 $3,518.50 $91,481

Source: Centrelink. The income test thresholds for Transitional Rate FULL Age Pension is adjusted annually on 1 July, and for Transitional Rate PART Age Pension is adjusted on 1 July, and six monthly: on 20 March, and 20 September. The annualised threshold income figures are calculated by Trish Power.

You can find more information about the Age Pension rules by visiting the Department of Human Services website, or by reading the following SuperGuide articles:

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Comments

  1. ROSS LOWE says:

    we hav e sold our family home for $600000 and wish to buy into a retirement village Our two current villa options are 1 $300000 2$400000 how will either option affect our current full pension

  2. Dallas Achilles says:

    Thanks Trish
    Surprisingly very little media on the threshold increases taking place today.
    I knew that you would however have this info somehow.

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