Question 1

How much is the Age Pension in 2026-27?

Accepted Answer

The maximum rate from 20 September 2026 is $1,237.70/fortnight for a single pensioner (~$32,291/year) and $933/fortnight each for partnered pensioners (~$24,341 per person, $48,683 combined). Those totals include the Pension Supplement ($88.20/fn single, $66.50/fn each partnered) and Energy Supplement ($14.10/fn single, $10.60/fn each partnered). Rates are indexed every 20 March and 20 September against CPI, PBLCI or MTAWE — whichever moved highest.

Question 2

When can I claim the Age Pension?

Accepted Answer

You can claim from your Age Pension age, which since 1 July 2023 has been 67 for everyone born on or after 1 January 1957. Earlier-born Australians had transitional ages (65–66.5). You need to have been an Australian resident for at least 10 years, with at least 5 of those years in one continuous period.

Question 3

What's the difference between the income test and the assets test?

Accepted Answer

You're assessed under BOTH tests, and you get paid under whichever test gives the LOWER result. The income test looks at money flowing in — wages, rent, deemed income on financial assets, foreign pensions. The assets test looks at what you OWN (excluding your home if you're a homeowner). For most retirees one test dominates; it pays to know which.

Question 4

What is deeming?

Accepted Answer

Centrelink doesn't ask what your bank account is actually earning — it 'deems' a return on your financial assets and counts that as income. From 1 July 2026 the deeming rates remain 1.25%/yr on the first $66,800 of financial assets (single; $110,600 couple) and 3.25%/yr above that — the government held rates flat for 1 July 2026 by ministerial decision. Thresholds indexed as normal.

Question 5

What is the Work Bonus?

Accepted Answer

The Work Bonus exempts up to $300/fortnight of employment income from the income test for pensioners. New pensioners start with a $4,000 'bank balance' that lets unused exemption roll forward — so if you don't work for a few months, you can earn more later without hitting the taper. Bank max is $11,800. Centrelink applies the Work Bonus automatically.

Question 6

I'm just over the cut-off. Do I get nothing?

Accepted Answer

If you're over the Age Pension cut-off you may still qualify for the Commonwealth Seniors Health Card (CSHC) — same concession-card benefits on PBS, Medicare safety net, and state concessions, without the income-test payment. The CSHC has its own (higher) income cut-off — see our [Commonwealth Seniors Health Card guide](/guides/commonwealth-seniors-health-card).

Question 7

How is the Age Pension taxed?

Accepted Answer

The Age Pension itself is taxable income, but the Senior Australians and Pensioners Tax Offset (SAPTO) usually offsets all the tax on a maximum pension. Once you have substantial other income (super income streams + rental etc.) you can move out of SAPTO and pay tax on the pension portion. Talk to a registered tax agent for your specific case.

Know your Age Pension.
Watch the super clock nobody tells you about.

Every figure traces to a gov.au source

What nobody else does

One Family OS for the four entitlements + your super + the watching layer

Deep reading

Know your Age Pension.
Watch the super clock nobody tells you about.

Every figure traces to a gov.au source

What nobody else does

One Family OS for the four entitlements + your super + the watching layer

Deep reading

Know your Age Pension.Watch the super clock nobody tells you about.

Every figure traces to a gov.au source

What nobody else does

One Family OS for the four entitlements + your super + the watching layer

Deep reading

Know your Age Pension.Watch the super clock nobody tells you about.

Every figure traces to a gov.au source

What nobody else does

One Family OS for the four entitlements + your super + the watching layer

Deep reading

Know your Age Pension.
Watch the super clock nobody tells you about.

Know your Age Pension.
Watch the super clock nobody tells you about.