🇦🇺 Australia

Age Pension (Australia)

Australian Government Age Pension

Medium ~30 min PensionRetirementAustraliaBenefits

/ What is this form?

The Age Pension provides income support for Australians aged 67 and over who meet residency and means test requirements. Maximum rate is about $1,116.30/fortnight for singles (2024). Both income and assets are tested — higher income or assets reduce the payment amount.

/ Who needs this form?

Australian residents aged 67 or over
Must have lived in Australia for at least 10 years (5 years continuously)
Subject to income and assets means tests

/ What you need before you start

Proof of identity

Bank account details

Details of all income and assets (property, shares, superannuation)

Partner's details if applicable

Residence history

/ Step-by-step guide

1 Check Age and Residency Eligibility

You must be 67 or over and have lived in Australia for at least 10 years (5 years continuously) as an Australian citizen or permanent resident.

2 Understand the Means Tests

Both income and assets are tested separately. The pension reduces gradually as income and assets increase. The family home is generally excluded from the assets test.

3 Gather Financial Information

List all income sources and assets: bank accounts, investments, superannuation, property excluding your home, shares, and vehicles.

4 Claim Through myGov or Service Centre

Claim through myGov (linked to Centrelink) for fastest processing. Alternatively, call Services Australia or visit a service centre.

5 Await Decision and Receive Payments

Services Australia will assess your claim and write to you with the outcome. Approved payments are made fortnightly into your bank account.

/ Key fields explained

Field	What to enter	Common mistake
Assets details	All assets including investments, superannuation, property excluding primary residence, vehicles, and cash	The family home is excluded from the assets test — do not include it unless you no longer live there

/ Common mistakes to avoid

Not applying because you assume superannuation or property disqualifies you (many people still qualify for a part pension)

Not claiming as a couple (different rates and higher thresholds apply)

Not knowing you can receive a part pension even with significant assets

/ Frequently asked questions

Does my superannuation count?

Once you have reached pension age, superannuation is counted as a financial asset and deemed to earn income. The balance affects both the income and assets tests.

How much is the maximum pension?

As of 2024: approximately $1,116.30 per fortnight for singles and $841.40 per fortnight each for couples. Amounts are indexed and updated regularly.