IMPORTANT: Effective from 20 September 2017, the government has again indexed the income test thresholds for the CSHC (see this article for latest thresholds). The next indexation of the CSHC income thresholds takes place on 20 September 2018. Note that since 1 January 2015, new applicants for CSHC need to include ... Read more
Age Pension
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 rates are indexed twice a year, in March and September. 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 single rate Age Pension is set to at least 27.7 per cent of Male Total Average Weekly Earnings.
You can find key information about the Age Pension in the articles below, such as:
- How do the Age Pension rules work?
- What are the latest Age Pension rates?
- What is your Age Pension age?
- 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?
From 1 January 2017, the Age Pension assets test becomes a lot stricter. For more information, see SuperGuide article Age Pension: 300,000-plus Australians lose entitlements from January 2017.
Below are some of our key Age Pension articles:
Set out below are all SuperGuide articles referring to Age Pension.
Age Pension: September 2017 rates apply (until March 2018)
Note: This article explains the latest Age Pension rates, applicable until 19 March 2018. The Age Pension rates are indexed twice-yearly, with the next adjustment taking effect from 20 March 2018. If you are seeking information on the changes to the Age Pension assets test rules which took effect from 1 January 2017, ... Read more
Retirement forecasts from your super fund: 6 facts you need to know
Australians are currently receiving annual member statements from their super funds. When opening these statements, many super fund members will see a comforting projection of how much their account balance is likely to be when they retire, and how much income this account balance will provide each year in ... Read more
Age Pension age now 65.5 years (since July 2017)
The Age Pension age effectively increased to 65 years and 6 months (from its current 65 years) on 1 July 2017, and it will progressively increase to age 67 by July 2023.Your Age Pension age is the age at which you are eligible to apply for the Age Pension, and this will depend on your date of birth.Australian ... Read more
Age Pension age increasing to 67 years
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?If you are seeking information on the January 2017 changes to the Age Pension asset test, then see ... Read more
Australia not ready for Age Pension age of 70 years
The capacity of developed nations around the world to provide a decent taxpayer-funded old Age Pension is being tested constantly with increasing life expectancies, escalating health costs, mind-boggling energy costs, and in many cases, shrinking populations.Although Australia is fortunate (in economic terms) to ... Read more
Retirement Age Reckoner: Discover your preservation age and Age Pension age
Your superannuation benefit and Age Pension entitlements are likely to be very important for your retirement plans.Did you know your right to access your super, or claim the Age Pension, is based on the date you were born? Use the Retirement Age Reckoner below to discover:your preservation age (the minimum ... Read more
Age Pension: Assets test thresholds applicable from September 2017
Note: This article explains the latest Age Pension assets thresholds, applicable from 20 September 2017, and also earlier thresholds (including from 1 July 2017 until 19 September 2017, and 20 March 2017 until 30 June 2017, and from 1 January 2017 until 19 March 2017). If you are seeking information on the latest Age ... Read more
Age Pension: More Australians entitled to payments from September 2017
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 Index, ... Read more
Age Pension: Income test thresholds applicable from September 2017
Note: This article explains the latest Age Pension income test thresholds, applicable from 20 September 2017 until 19 March 2018. (This article also explains the thresholds applicable from 1 July 2017 until 19 September 2017). If you are seeking information on the latest Age Pension rates see SuperGuide article Age ... Read more
Retirementgate: Government’s Age Pension debacle hits middle Australia
In the past few months, SuperGuide, with the assistance of advocacy group Save Our Super, has reported on the ridiculous state of affairs now facing existing and future retirees. The January 2017 Age Pension changes, namely the harsh regressive effect of the Age Pension assets test, have made it financially more ... Read more
Guest contributor: Retirees lose savings due to 2017 Age Pension changes
Note: During the past few months, with the assistance of advocacy group Save Our Super (and using financial modelling provided by Sean Corbett), SuperGuide has highlighted the inequities and disincentives created by the January 2017 changes to the Age Pension assets test. SuperGuide has named this policy debacle, ... Read more
