Note: This article explains the benefits of state Seniors Cards, and how to apply for a card in your state. Information is current as at July 2018. If you’re seeking information on the Commonwealth Seniors Health Card (CSHC), then check out SuperGuide article Are you eligible for a Commonwealth Seniors Health ... Read more
Age Pension
A Super Guide
The Age Pension is a taxpayer-funded basic retirement income stream for life, for those Australians who meet the eligibility requirements for the Age Pension. The Age Pension rules include reaching a certain age (Age Pension age), meeting residency requirements, and also passing the Age Pension assets test and the Age Pension income test.
The Age Pension rates are indexed twice a year, in March and September. The single rate Age Pension is set to at least 27.7 per cent of Male Total Average Weekly Earnings.
The Age Pension thresholds for the Age Pension income test and assets test are indexed once a year for entitlement to the FULL Age Pension, and three times a year for entitlement to PART Age Pension.
You can find key information about the Age Pension in the articles below, such as:
- What are the latest Age Pension rates?
- How do the Age Pension rules work?
- What is your Age Pension age?
- Australian Age Pension: 10 important facts you should know
- Australian Age Pension: Am I eligible and how do I apply?
- What are the assets thresholds for the Age Pension assets test?
- What are the income thresholds for the Age Pension income test?
- Do you understand the Age Pension income test deeming rules for financial investments?
Note: From 1 January 2017, the Age Pension assets test became a lot stricter. For more information, see SuperGuide article Age Pension: 300,000 Australians lost entitlements on 1 January 2017.
Below are some of our key Age Pension articles:
Set out below are all SuperGuide articles referring to Age Pension.
Coping with myGov: Why the government wants you to go online
If the federal government has its way, the days of rolling up to your local Centrelink, ATO or Medicare office will soon be a thing of the past. Instead of talking to real people, get ready to deal with an alternative online reality – via your very own myGov account. Over the next few years the myGov platform will ... Read more
Contributing super by downsizing your home: 10-point guide
Many Australian retirees find they want a smaller home, or a home more suited to their empty-nest requirements. For some Australians, selling the family home can be great way to release built-up equity to pay for retirement living expenses or in-home support that will allow them to stay at home longer. Older ... Read more
Latest superannuation rules: 2018/2019 guide
Substantial changes to the superannuation rules took effect from 1 July 2017, and further super changes took effect from 1 July 2018. Have you investigated how the super changes will affect your superannuation and retirement plans for the 2018/2019 year, and for future financial years? At the same time, many of ... Read more
Age Pension calculator: How much could you be eligible for?
Welcome to the SuperGuide Age Pension calculator. Using the calculator is easy. Enter your details in the calculator below (in the yellow blocks) and you will see an estimate of amount of Age Pension you may be eligible for. Note: The Age Pension rates used in the calculator are those that apply from 20 March 2018 ... Read more
Pension Loans Scheme: 10 facts you need to know
Retirees are always looking for new ways to boost their retirement income or to pay for expenses, like home care. Although downsizing to a small home can be one option, the Pension Loans Scheme (PLS) offered by the federal government is a rarely considered alternative. Although the PLS has been around for about 30 ... Read more
Reverse mortgages: retirement income solution or snare?
With the cost of residential property at all-time highs, it can be tempting for asset-rich and cash-poor retirees to look at ways of unlocking some of the money they have tied up in their home to help pay for their retirement expenses, particularly if their super account is small. One solution to this dilemma can be ... Read more
Age Pension income test: Deeming rates and deeming thresholds
Note: This article explains the latest deeming rates and the deeming thresholds for financial investments under the Age Pension income test. The deeming thresholds increase from 1 July 2018, and will change again from 1 July 2019. If you are seeking information about the latest increases in the thresholds for the Age ... Read more
Age Pension: Assets test thresholds applicable from July 2018
Note: This article explains the latest Age Pension assets thresholds, applicable from 1 July 2018 until 30 June 2019, and also earlier thresholds (including from 20 March 2018 until 30 June 2018, and from 19 September 2017 until 19 March 2018, and from 1 July 2017 until 19 September 2017). If you are seeking ... Read more
Age Pension changes: More Australians entitled to payments from July 2018
In March, July and September of each year, the federal government changes the rules for claiming the Age Pension… usually for the better! Currently, the Age Pension income test thresholds and the Age Pension assets test thresholds are adjusted three times a year in line with increases in the Consumer Price ... Read more
Age Pension: Income test thresholds applicable from July 2018
Note: This article explains the latest Age Pension income test thresholds, applicable from 1 July 2018 until 30 June 2019. (This article also explains the thresholds applicable from 20 March 2018 until 30 June 2018, and from 19 September 2017 until 19 March 2018, and from 1 July 2017 until 19 September 2017). If you ... Read more
2018 Federal Budget summary: Superannuation and retirement measures
On 8 May 2018, Treasurer Scott Morrison released his third federal budget. His budget speech was titled ‘A plan for a stronger economy.’ He says: “The Turnbull Government will build a stronger economy to create more jobs, provide tax relief to encourage and reward working Australians, guarantee essential services and ... Read more
