Pension thresholds March 2020

Changes to income and asset thresholds will take effect from 20 March 2020.

Below are the new limits that will apply to you:

Centrelink income test limits for Age Pensions from 20 March 2020

Situation For full pension/allowance (per fortnight) For part pension(pf) From 20 March 2020
Single up to $174 less than $2062.60
Couple (combined) up to $308

less than $3155.20

Illness separated (couple combined) up to $308 less than $4085.20


Centrelink asset test limits for full Age Pensions from 20 March 2020

Situation Homeowners Non-homeowners
Single $263,250 $473,750
Couple (combined) $394,500 $605,000
Illness separated (couple combined) $394,500 $605,000


Centrelink asset test limits for part Age Pensions – effective from 20 March 2020

Situation Homeowners Non-homeowners
Single $578,250 $788,750
Couple (combined) $869,500 $1,080,000
Illness separated (couple combined) $1,024,500 $1,235,000


Centrelink income test limits for transitional part Age Pensions from 20 March 2020

Situation  
Single less than $2147.25
Couple (combined) less than $3492.00
Illness separated (couple combined) less than $4245.50


Centrelink asset test limits for transitional part Age Pensions – effective from 20 March 2020

Situation Homeowners Non-homeowners
Single $526,500 $737,000
Couple (combined) $819,500 $1,030,000
Illness separated (couple combined) $921,000 $1,131,500


Centrelink deeming thresholds from 1 July 2019
 

Family Situation Assets Threshold Increase Deeming Rate
Single $0 – $51,800 $6000 1.00%
Above $51,800   3.00%
Pensioner Couple – combined (2) $0 – $86,200 $1200 1.00%
Above $86,200   3.00%

Will these changes make a difference to your retirement?

Related articles:
Age Pension increases 20 March 2020
Pension thresholds: 20 March 2020
JobSeeker changes: 20 March 2020

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