Changes to income and asset thresholds will take effect from 20 March 2021.
Below are the new limits that will apply to you:
Centrelink income test limits for Age Pensions from 20 March 2021
| Situation | For full pension/allowance (per fortnight) | For part pension(pf) From 20 March 2021 |
| Single | up to $178 | less than $2083.40 |
| Couple (combined) | up to $316 | less than $3188.40 |
| Illness separated (couple combined) | up to $316 | less than $4126.80 |
Centrelink asset test limits for full Age Pensions from 20 March 2021
| Situation | Homeowners | Non-homeowners |
| Single | $268,000 | $482,500 |
| Couple (combined) | $401,500 | $616,000 |
| Illness separated (couple combined) | $401,500 | $616,000 |
Centrelink asset test limits for part Age Pensions – effective from 20 March 2021
| Situation | Homeowners | Non-homeowners |
| Single | $585,750 | $800,250 |
| Couple (combined) | $880,500 | $1,095,000 |
| Illness separated (couple combined) | $1,037,000 | $1,251,500 |
Centrelink income test limits for transitional part Age Pensions from 20 March 2021
| Situation | |
| Single | less than $2168.75 |
| Couple (combined) | less than $3528.00 |
| Illness separated (couple combined) | less than $4297.50 |
Centrelink asset test limits for transitional part Age Pensions – effective from 20 March 2021
| Situation | Homeowners | Non-homeowners |
| Single | $533,500 | $748,000 |
| Couple (combined) | $830,000 | $1,044,500 |
| Illness separated (couple combined) | $932,500 | $1,147,000 |
Centrelink deeming thresholds from 1 July 2021
| Family Situation | Assets Threshold | Deeming rate | |
| Single | $0 – $53,000 | 0.25% | |
| Above $53,000 | 2.25% | ||
| Pensioner Couple – combined (2) | $0 – $88,000 | 0.25% | |
| Above $88,000 | 2.25% |
Will these changes make a difference to your retirement?
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