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.

Moving targets: Come on, how much super do I really need?

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This article is updated every 6 months with the latest lifestyle/income data. The most recent data was released in August 2015 (for lifestyle costs as at June 2015). You’re thinking about your retirement and worried about whether you’ll have enough money to live the life you want, or perhaps … [Read more...]

Latest retirement deal! Lose Age Pension, receive Seniors Health Card

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The stricter Age Pension assets test has now become law, although the changes won’t take effect until January 2017. The federal government predicts that more than 300,000 Australians will be worse off under the harsher assets test starting from 1 January 2017, with nearly 100,000 Australians losing … [Read more...]

Age Pension income test change hits defined benefit pensions

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With so many recent changes affecting the Age Pension (such as deeming income from new super pensions, or for new Age Pensioners, from January 2015, and a stricter Age Pension assets test from January 2017), another significant change has gone largely unnoticed except for the thousands of retired … [Read more...]

Age Pension assets test: 300,000 retired Australians to lose some or all entitlements

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Note: The changes to the Age Pension assets test are now law, receiving royal assent on 30 June 2015, and outlined in this article. The successful passage through parliament was due to the Greens supporting the changes. The ALP opposed the changes, which were announced by the Australian Liberal … [Read more...]

Tax-free super for over-60s, except for some

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If you withdraw your super benefits after you turn 60 years of age, you can expect to pay NO tax on those super benefits, unless you are a member of certain public sector super funds (see summary table at the end of this article). Due to the large number of emails I receive on this topic, I’ll … [Read more...]

Age Pension age increasing to 67 years (not 70 years)

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Note: This article explains the current Age Pension age. If you are seeking information on the retirement age for accessing superannuation benefits see SuperGuide article Accessing super: What is my preservation age? Note: If you are seeking information on the changes to the Age Pension asset … [Read more...]

Age Pension: Deemed income falls from 1 July 2015 with higher thresholds

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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 Age Pension payment rates see SuperGuide article ‘Age Pension: March 2015 rates now apply’. If you are seeking information on the changes … [Read more...]