Age Pension

The Age Pension remains a key pillar of Australia’s retirement income system, with more than 60% of the population aged over 65 receiving the payment as of 2021. While only 44% of people aged 65-69 receive some Age Pension, this rises to 81% for those aged 80-84, so it pays to keep a check on when you may be eligible.

Eligibility for the Age Pension is based on age, means tests, and Australian residency requirements. Many people who don’t qualify for a payment when they retire find that they become eligible later in life as their assets reduce, so it’s worth staying on top of the details.

It’s even possible to work while receiving Age Pension, with the work bonus providing a useful boost.

Structuring your affairs appropriately can also significantly enhance your entitlements.