Age Pension

Are you eligible for the Age Pension? The Age Pension is the taxpayer-funded basic retirement income stream for those people who can’t fully support themselves. The single rate Age Pension is set to at least 27.7 per cent of Male Total Average Weekly Earnings.

On SuperGuide, you can find information about the latest Age Pension rates, your Age Pension age, the Age Pension income test and the Age Pension assets test, and more.

Set out below are all SuperGuide articles explaining Age Pension.

2016 Federal Budget summary: Superannuation shock for Australians

On 3 May 2016, the federal treasurer Scott Morrison released the first federal budget of his career, and he has made some radical changes to the super rules.On first read of the super changes, Scott Morrison may indeed raise $2.9 billion over 4 years by introducing the super changes, but I think … [Read more...]

2016 Federal Election: What superannuation and retirement policies can you expect?

The May 2016 Federal Budget was released on 3 May 2016, rather than its usual date of 10 May 2016. Linked to the Budget night change, Prime Minister Malcolm Turnbull has confirmed the federal election is highly likely to be held on 2 July 2016 (since the Senate hasn’t done what the federal … [Read more...]

Repay debts with super: then claim Age Pension

Q: I have read about the changes to the Age Pension assets test taking effect from January 2017. My question is, can I pay my superannuation into my mortgage, live off my private savings and then receive the Age Pension when I turn 65? My age pension age is 65, because I was born in June 1952.A: … [Read more...]

SMSF compliance: Is a corporate trustee required to pay lump sums?

Q: I’ve seen conflicting advice that if you wish to make a lump sum payment from an account-based pension by way of an in-specie transfer of assets, or, just a lump sum cash withdrawal, you can’t do it if you have individual trustees. You must have a corporate trustee. Can you please comment?I … [Read more...]

Age Pension: Does my superannuation lump sum count for income test?

Q: I’m over 65 and a member of a super fund, from which I receive an account-based pension. I need to withdraw a lump sum of $40,000 from my super, as my super is not enough to live on. I will have to apply for a part pension (Age) from Centrelink. Will my lump sum be counted as income in the … [Read more...]

Age Pension: More Australians entitled to payments since March 2016

In March, July and September of each year, the federal government changes the rules for claiming the Age Pension… for the better! Currently, the Age Pension income test and the Age Pension assets test are adjusted three times a year in line with increases in the Consumer Price Index.Effective … [Read more...]

Age Pension income test: Deeming rates and deeming thresholds

Note: This article explains the latest deeming rates and the deeming thresholds for the Age Pension income test. If you are seeking information about the latest increases in the thresholds for the Age Pension income test and Age Pension assets test see SuperGuide article Age Pension: More … [Read more...]

Age Pension: March 2016 rates now apply (until September 2016)

Note: This article explains the latest Age Pension rates, applicable until 19 September 2016. The Age Pension rates are indexed twice-yearly, with the next adjustment taking effect from 20 September 2016. If you are seeking information on the changes to the Age Pension assets test rules taking … [Read more...]