6th Mar 2019
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Age Pension update: increases and changes from 20 March 2019
Age Pension update: increases and changes from 20 March 2019

Changes to income and asset thresholds will take effect from 20 March 2019.

Below are the new limits that will apply to you:

Centrelink income test limits for Age Pensions from 20 March 2019

Situation For full pension/allowance (per fortnight) For part pension(pf) From 20 March 2019
Single up to $172 less than $2024.40
Couple (combined) up to $304

less than $3096.40

Illness separated (couple combined) up to $304 less than $4008.80


Centrelink asset test limits for full Age Pensions from 20 March 2019

Situation Homeowners Non-homeowners
Single $258,500 $465,500
Couple (combined) $387,500 $594,500
Illness separated (couple combined) $387,500 $594,500


Centrelink asset test limits for part Age Pensions – effective from 20 March 2019

Situation Homeowners Non-homeowners
Single $567,250 $774,250
Couple (combined) $853,000 $1,060,000
Illness separated (couple combined) $1,005,000 $1,212,000


Centrelink income test limits for transitional part Age Pensions from 20 March 2019

Situation  
Single less than $2110.75
Couple (combined) less than $3432.50
Illness separated (couple combined) less than $4181.50


Centrelink asset test limits for transitional part Age Pensions – effective from 20 March 2019

Situation Homeowners Non-homeowners
Single $517,000 $724,000
Couple (combined) $805,000 $1,012,000
Illness separated (couple combined) $904,500 $1,111,500


Centrelink deeming thresholds from 1 July 2018
 

Family Situation Assets Threshold Increase Deeming Rate
Single $0 – $51,200 $1000 1.75%
Above $51,200   3.25%
Pensioner Couple - combined (2) $0 – $85,000 $1600 1.75%
Above $85,000   3.25%


Age Pension rules are complex – let us simplify them for you. The PensionChecker™ tool has all the information you need.

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    COMMENTS

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    Circum
    6th Mar 2019
    3:55pm
    The deeming rates are unrealistically high.Where can I get 3.25% on a secure term deposit?
    Cowboy Jim
    7th Mar 2019
    11:03am
    Highest I could get for 12 months is 2.4% in a smaller bank. You can get much more if you are prepared to lose the lot (the little indicator below the Challenger adverts). If you DO lose the lot you are no longer deemed, haha!
    Circum
    6th Mar 2019
    3:55pm
    The deeming rates are unrealistically high.Where can I get 3.25% on a secure term deposit?
    Circum
    6th Mar 2019
    3:56pm
    Lol I have 2 runners in the next
    Circum
    6th Mar 2019
    3:56pm
    Lol I have 2 runners in the next
    andromeda143
    6th Mar 2019
    4:08pm
    The price of a coffee per week? It is hardly worth having! What a joke!
    Triss
    7th Mar 2019
    3:23pm
    Don’t worry, andromeda, the pollies will find a way to claw it back. Grab your coffee while you can.
    hyacinth
    6th Mar 2019
    4:19pm
    I don't know how they work my pension out I seem to be missing out on a lot even though I've been to see them
    Arvo
    6th Mar 2019
    11:47pm
    Go to this website to work it out.
    http://www.yourpension.com.au/APCalc/
    hyacinth
    6th Mar 2019
    4:19pm
    I don't know how they work my pension out I seem to be missing out on a lot even though I've been to see them
    Farside
    6th Mar 2019
    4:31pm
    The old age pension is to Newstart what the Parliamentary pension is to compulsory superannuation. Both should be equivalent.
    Blinky
    6th Mar 2019
    5:51pm
    Are u sure u r talking 2019?

    The asset threshold is already set at $387500 so, where is the increase?

    So, the pension will go up NEXT YEAR???
    Bulla
    7th Mar 2019
    12:09pm
    Any info/link to website where the complate information on salaries,pensions and other benefits which are given the sitting and retired parliamentarians please
    Bulla
    7th Mar 2019
    12:09pm
    Any info/link to website where the complate information on salaries,pensions and other benefits which are given the sitting and retired parliamentarians please
    Lescol
    7th Mar 2019
    1:08pm
    Typical of wasted government opportunities - resource tests should end, pensions should be universal and tax paid upon every dollar received aka withholding tax / franking credits. Simple and most in centrelink will be out looking for a new job.! cheers
    Triss
    7th Mar 2019
    3:24pm
    Good policy, Lescol.
    Rosscoe
    20th Mar 2019
    11:35am
    Lot of grizzles on this page! Mick - one thing that that Rudd and the Labor Party got right was how to react to the GFC.
    Rosscoe
    20th Mar 2019
    11:35am
    Lot of grizzles on this page! Mick - one thing that that Rudd and the Labor Party got right was how to react to the GFC.
    Blinky
    20th Mar 2019
    12:44pm
    How have the asset yhresholds increased? It was $387.500 x couples and it still is???