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Home / In retirement / Age Pension / How to maximise your Age Pension

How to maximise your Age Pension

Regan Welburn

Australia has a means tested social security system, which is designed to work like a safety net.

The more in assets or income you have, the less Age Pension you may be entitled to.

If your assets or income exceed the cut off limits, you will not be eligible for a pension at all, but the limits are reasonably generous so it’s worth checking whether you are entitled to at least some Age Pension.

If you find you are currently ineligible for the Age Pension, never fear. There are steps you can take to maximise your pension entitlements.  

Watch our comprehensive video guide below or continue reading to learn 12 ways to increase your Age Pension.

SuperGuide members have access to an extended version which gives additional tips and case studies so you can see how they are applied in the real world.

Learn more about the benefits of a SuperGuide membership.

The current maximum rates of Age Pension

  • For singles: $1,144.40 per fortnight (approximately $29,754 per year)
  • For couples: $862.60 per fortnight each (approximately $22,428 per year each)

(Rates effective from 20 September 2024 to 19 March 2025 and include base pension plus supplements.)

Learn more about Age Pension rates.

Times are a-changing

Over the past 15 years there have been significant changes to the assessment of assets and income for social security purposes. Unfortunately, it’s been mostly bad news but there are bright spots, such as the increase in the work bonus (details later in this article).

About the author

Regan Welburn
Regan Welburn is the director of My Pension Manager, an administration service specialising in Age Pension applications and dealing with Centrelink. Regan previously worked for Centrelink as a Financial Information Service Officer and has an intricate knowledge of the Social Security system.
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Responses

  1. J Cannon Avatar
    J Cannon

    Thank you for this interesting article. As always, these articles end with a statement similar to “it’s vitally important to seek personal financial advice to achieve your own goals and objectives.”
    How does one find a trustworthy financial adviser? Our experience is not the best with such advisers, even though they had all the right qualifications.

    1. SuperGuide Avatar
      SuperGuide

      It can certainly be difficult to find a trusted adviser. We suggest you look for an independent financial planner if possible. You can find details on why independence is important and links to lists of advisers in each state here.
      Your super fund may also employ advisers that can assist you. This can be particularly helpful if your fund has unique features such as defined benefits or untaxed elements since the planner will be familiar with them.
      Best wishes
      The SuperGuide team

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