Understanding your eligibility for the Age Pension

Planning for retirement should begin with careful consideration of the Age Pension, a vital source of income for many senior Australians. 

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What is the Age Pension?

  • The Age Pension is considered the ‘safety net’ and is designed to support the basic living standards of older Australians.
  • Payments are targeted through means testing to those in need.
  • Rates are indexed to keep pace with Australian price and wage increases.
  • Most payments are made by Centrelink.  

What is the Assets Test for the Age Pension?

  • The Assets Test determines Age Pension eligibility
  • It assesses what you and your partner own, including superannuation
  • It includes assets and income in and outside of Australia
  • You may miss out on the pension if your assets are within limits
  • Centrelink uses both income and assets tests to determine eligibility

What's included in the Assets Test:

  • Super account balance
  • Money in a bank account
  • Financial investments (e.g., shares)
  • Cars and other vehicles
  • Home contents or household items
  • Real estate/property (not your primary residence)
  • Annuity or pension from superannuation
  • Gifts given or sold for less than market value
  • Businesses or partnerships/trusts
  • Inheritance from a deceased estate


Source: Centrelink (Services Australia), 2023.


Need more help? Contact our Client Services team

As a member, you can get personalised support from our Client Services team at no cost or obligation to assist with your retirement goals.
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