Age Pension and carers · calculator
Age Pension calculator
Your Age Pension under the income test and the assets test, with deeming on savings and Rent Assistance for renters. The lower result is paid.
Checked by Radif Partners · Editorial policy · How we calculate
The full Age Pension is $1,237.70 a fortnight for a single person and $933 each for a couple, including the Pension and Energy Supplements, from 20 September 2026 to 19 March 2027. It is paid from age 67 to Australian residents who pass two means tests, and Centrelink pays whichever gives the lower rate. The income test allows $226 a fortnight for a single person and $396 combined for a couple, then takes 50 cents per dollar, 25 cents each for a couple; savings and shares count through deeming. The assets test allows $333,000 of assets for a single homeowner, more for renters, then takes $3 a fortnight per $1,000. A homeowner couple with $400,000 in savings and $60,000 of other assets receives about $909.04 each, set by the income test.
Age Pension per fortnight
$1,237.70
Full rate
| Maximum rate (Pension and Energy Supplements included) | $1,237.70 |
| Rent Assistance in the maximum | $0 |
| Deemed income from savings | $164.96 a fortnight |
| Rate under the income test | $1,237.70 |
| Rate under the assets test | $1,237.70 |
| Assets counted | $180,000 |
| Assets free area | $333,000 |
Income test stops the pension at $2,701 a fortnight; assets test at $745,750. How this is worked out.
How the calculator works
Enter your income per fortnight other than from savings (wages, a rental property's net income, a defined benefit pension), your financial assets, and your other assessable assets. The calculator deems your financial assets, adds the deemed income to your other income, and applies the income test. Separately, it adds all assets together and applies the assets test. Rent Assistance is added to the maximum rate before both tests if you rent. The lower of the two rates is your pension (Social Security Guide 4.2.1.10, 4.2.3).
What counts and what does not
Your home and the land it sits on, up to two hectares in most cases, are exempt from the assets test, which is why homeowners have a lower assets free area than renters. Bank accounts, term deposits, shares, managed funds and account-based pensions are financial assets, deemed for the income test and counted at their value for the assets test. Cars, caravans, boats, home contents and investment properties are assets but not deemed. Superannuation in accumulation phase counts once you reach Age Pension age.
| Situation | Income stops the pension at | Assets stop the pension at (homeowner) |
|---|---|---|
| Single | $2,701 a fortnight | $745,750 |
| Couple, combined | $4,128 a fortnight | $1,121,000 |
Three retirees, three tests
A single homeowner with $80,000 in the bank and no other income has deemed income well under the free area and assets well under $333,000: full pension. A homeowner couple with $400,000 of savings and $60,000 of car and contents is caught first by the income test, at about $909.04 each. A single renter with $500,000 of savings has a higher assets free area and Rent Assistance in the maximum rate, which can leave them with a larger pension than a homeowner with less money.
Not modelled
The Work Bonus for pensioners who still work, the treatment of defined benefit income streams and annuities, granny flat arrangements, gifting rules and the transitional rates of people who were already pensioners before 20 September 2009 are not modelled. People in those situations should treat the result as an approximation.