Age Pension: 1 July 2018 changes

Changes to income and asset thresholds will take effect from 1 July 2018. 

Below are the new limits that will apply to you:

Centrelink income test limits for Age Pensions from 1 July 2018 

Situation For full pension/allowance (per fortnight) For part pension(pf) From 1 July 2018
Single up to $172 less than $1987.20
Couple (combined) up to $304 less than $3040.40
Illness separated (couple combined) up to $304 less than $3934.40

Centrelink asset test limits for full Age Pensions from 1 July 2018

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 1 July 2018

Situation

Homeowners

Non-homeowners

Single

$561,250

$768,250

Couple (combined)

$844,000

$1,051,000

Illness separated (couple combined)

$993,000

$1,200,000

  

Centrelink income test limits for transitional part Age Pensions from 1 July 2018

Situation

 

Single

less than $2077.00

Couple (combined)

less than $3378.00

Illness separated (couple combined)

less than $4114.00

Centrelink asset test limits for transitional part Age Pensions – effective from 1 July 2018

Situation

Homeowners

Non-homeowners

Single

$512,500

$719,500

Couple (combined)

$797,500

$1,004,500

Illness separated (couple combined)

$895,500

$1,102,500

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%

Written by Leon Della Bosca

Leon Della Bosca has worked in publishing and media in one form or another for around 25 years. He's a voracious reader, word spinner and art, writing, design, painting, drawing, travel and photography enthusiast. You'll often find him roaming through galleries or exploring the streets of his beloved Melbourne and surrounding suburbs, sketchpad or notebook in hand, smiling.
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