Pension thresholds March 2021

older mand laughing with adult daughter

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

SituationFor full pension/allowance (per fortnight)For part pension(pf) From 20 March 2021
Singleup to $178less than $2083.40
Couple (combined)up to $316less than $3188.40
Illness separated (couple combined)up to $316less than $4126.80


Centrelink asset test limits for full Age Pensions from 20 March 2021

SituationHomeownersNon-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

SituationHomeownersNon-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 
Singleless 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

SituationHomeownersNon-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 SituationAssets ThresholdDeeming rate
Single$0 – $53,0000.25%
Above $53,000 2.25%
Pensioner Couple – combined (2)$0 – $88,0000.25%
Above $88,000 2.25%

Will these changes make a difference to your retirement?

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