Age Pension

The Australian Government provides an Age Pension as a safety net for eligible citizens who cannot fully fund their own retirement through retirement savings. Managed by and paid for via the Department of Human Services, or Centrelink as more commonly known, there is strict eligibility criteria, which includes residency period, age qualification and an assessment of income and assets. Due to this criteria, not every Australian will be eligible for an Age Pension.

The current qualification age for the Age Pension is 65.5 years. 

The rate of a full single Age Pension, including the Pension Supplement and Clean Energy Supplement is $24,081 per annum (from 20 March 2019). 

The amount of Age Pension paid is indexed twice a year, in March and September, in line with the rise in Consumer Price Index (CPI) or the Pensioner and Beneficiary Living Cost Index (PBLCI), whichever is greater. Pensions are then benchmarked against a percentage of the Male Total Average Weekly Earnings (MTAWE). Again, there are plans by the government to change the method of indexation to the CPI alone.

There are certain asset and income limits tests you need pass before you are granted a pension. If your assets or income exceeds those required for a full Age Pension, you may be eligible for a part Age Pension. And if you do not qualify for any Age Pension, you may, however, be eligible for a Commonwealth Seniors Health Card if your income is below a certain level.

From 20 March 2019, the following pension payment rates will apply:

Maximum Age Pension payment rates

    Previous Current Increase
Single Base $834.40 $843.60 $9.20
  Supplement $67.80 $68.50 $0.70
  Energy Supplement $14.10 $14.10 -
  Total $916.30 $926.20 $9.90
Couple (each) Base $629.00 $635.90 $6.90
  Supplement $51.10 $51.60 $0.50
  Energy Supplement $10.60 $10.60 -
  Total $690.70 $698.10 $7.40

The Pension Supplement is paid as part of certain regular fortnightly income support payments to help eligible recipients meet the costs of daily household and living expenses.

Pension Supplement* basic amount









Couple separated




Couple (each)




Pension Supplement # minimum amount









Couple separated




Couple (each)




 Snapshot of Age Pension in Australia


Snapshot of Age Pension in Australia

When granted an Age Pension, you will also receive a Pension Concession Card, which entitles you many valuable concessions, including prescription medication, council rates and certain utilities.

To find out more about the Age Pension, visit the sections detailed below. 

Pension eligibility
To be eligible for the Age Pension, you must meet certain criteria which is assessed by the Department of Human Services. 


Pension payment rates
Your Age Pension payment is calculated against both the asset and income tests and you are paid the lower rate of the two. 


Income and asset tests
You can still receive a certain amount of income and receive an Age Pension. This income can be derived from investments, renting out of property or as a salary from employment, as well as several other means. 


Work Bonus
The Work Bonus means that working pensioners will have the opportunity to earn more money before the Age Pension is affected and has replaced the Pension Bonus Scheme.


Claiming your Age Pension overseas
In most cases, customers receiving a pension can continue to be paid if they spend time overseas.


Disability Support Pension
Find information on disability services, Centrelink updates, and how the disability pension affects your finances, both before and after you retire.

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