Services Australia rates

How much Age Pension could you get?

The other half of most Australians' retirement income. Centrelink runs an income test and an assets test — you receive the lower of the two. This estimates both on the current rates.

Centrelink runs an income test and an assets test — you get the lower of the two. This estimates both.

Relationship

Do you own your home?

Assets (excl. your home)

Super, savings, shares, car, contents

Of which financial

Super, savings, shares (these get deemed)

Other income / yr

Work, rent — before any Work Bonus

You could receive about

$1,150/fortnight

≈ $29,897 a year — out of a maximum $31,223.

Part Age Pension

Both tests are run — you get the lower

Income test

$1,152/ft

Incl. $8,414/yr deemed income

Assets testapplies

$1,150/ft

Free area $333,000

The pension tops up your super, not replaces it.See if your super's on track for the lifestyle you want.

Every figure below is the actual rate or threshold behind your estimate. You get the lower of the income test and the assets test, tapering from the maximum rate down to nil.

Maximum pension rates

Situation	Per fortnight	Per year
Singleyou	$1,201	$31,223
Couple (combined)	$1,810	$47,070
Couple (each partner)	$905	$23,535

The maximum rate before any test. It already bundles the basic rate, the pension supplement and the energy supplement — a couple's combined amount is split evenly between partners.

Assets test — thresholds & cut-offs

Situation	Full pension up to	Pension stops at
Single, homeowneryou	$333,000	$733,300
Single, non-homeowner	$600,000	$1,000,300
Couple, homeowner	$499,000	$1,102,467
Couple, non-homeowner	$766,000	$1,369,467

Assets are counted at their market value (excluding your home). Above the free area the pension drops $3 per fortnight for every $1,000 of assets — that's $78 a year per $1,000.

How your pension falls as assets grow

Assessable assets	Pension / fortnight	Per year	Test that binds
$333,000	$1,152	$29,954	income
$383,000	$1,051	$27,323	assets
$433,000	$901	$23,423	assets
$483,000	$751	$19,523	assets
$533,000	$601	$15,623	assets
$583,000	$451	$11,723	assets
$633,000	$301	$7,823	assets
$683,000	$151	$3,923	assets
$733,000	$1	$23	assets

Holding your income and financial assets steady, this walks your total assessable assets from the free area to the cut-off. Where the income test still gives less, it's the income test that binds — so building more assets wouldn't lift the payment.

Income test — free areas & cut-offs

Situation	Full pension up to /ft	Pension stops at /ft	Per year
Singleyou	$226	$2,628	$68,323
Couple (combined)	$396	$4,017	$104,437

Assessable income counts deemed income from your savings plus other income (work, rent). Above the free area the pension reduces 50c for every $1. The first $300/fortnight of employment income is exempt under the Work Bonus — not counted above, so real payments can be a little higher.

Deeming — how your savings are counted

Band	Deeming rate	Your amount	Deemed income
First $66,800	1.25%	$66,800	$835
Balance over $66,800	3.25%	$233,200	$7,579
Total deemed income		$324/ft	$8,414/yr

Centrelink assumes your financial assets (super in pension phase, savings, shares) earn these rates — regardless of what they actually earn. If your real return is higher, the extra isn't counted; if it's lower, you're still deemed to earn this.

Where you sit on the taper

Assets test — pension as your assets grow

Annual pension against total assessable assets, with income set aside. Flat on the full rate, then sloping to the cut-off.

Income test — pension as your income grows

Annual pension against assessable income (deemed savings + other), with assets set aside.

Each curve loops the same estimate across a range, isolating one test so the shape is clean: the flat full-pension plateau, the shaded part-pension taper, and the cut-off where payments reach nil. Your dot marks where you land on each — the lower of the two is what you actually receive.

Rates 20 March 2026 · thresholds 1 July 2026. Figures assume you've reached Age Pension age (67) and meet residency rules. Couple figures are combined. Cut-offs are derived from the maximum rate and the current taper, and exclude rent assistance and the family home. An estimate, not financial advice — confirm with Services Australia.

Rates 20 March 2026 · thresholds 1 July 2026. Assumes you've reached Age Pension age (67) and meet residency rules. Financial assets are “deemed” to earn 1.25% then 3.25% for the income test. Excludes the Work Bonus (first $300/fortnight of work income is exempt, so real payments can be higher), rent assistance and the family home. An estimate, not financial advice — check with Services Australia.

Most people approaching retirement want one number: what Centrelink will actually pay. It's rarely the headline rate, because two separate tests run against your circumstances and you're paid whichever produces the smaller amount. This estimates both, and shows which one is holding your payment down.

Knowing which test binds is the useful part. If assets are the constraint, drawing your balance down lifts the payment. If income is, holding fewer assets changes nothing until your assessable income falls. The same decision can move your pension a lot, or not at all.

How this is calculated

1
Both tests start from the same maximum rate
The tool looks up the maximum fortnightly payment for your situation — single, or the combined figure for a couple. It bundles the basic rate plus the pension and energy supplements. Each test reduces from that ceiling.
2
Your financial assets are deemed, not measured
Savings, shares and super are assumed to earn a set return regardless of what they really earn: 1.25% on the first slice, then 3.25% above the deeming threshold for your situation. That amount, plus any other income you enter, is your assessable income.
3
The income test tapers 50 cents in the dollar
Assessable income is converted to a fortnightly figure. Anything above the income free area cuts the maximum rate by 50 cents in the dollar. Below the free area, this test leaves you on the full rate.
4
The assets test tapers $3 per $1,000 a fortnight
Assets count at market value, excluding the family home. The amount above the assets free area — which depends on whether you're single or a couple, and whether you own your home — reduces the rate by $3 a fortnight for every $1,000 over.
5
You're paid the lower of the two
The results are compared, the smaller becomes your estimate, and the test that produced it is flagged. The fortnightly figure is multiplied by 26 for the annual amount. If either test reaches nil, so does the estimate.

What it assumes

You've reached Age Pension age (67) and meet the residency rules — the tool doesn't test either.
The Work Bonus is excluded. The first $300 a fortnight of employment income is exempt from the income test, so if you're still working your real payment can be higher.
Rent Assistance isn't included, so non-homeowners paying rent may receive more than shown.
The family home is excluded, but most else counts at market value — car, contents at second-hand value, and super once you've reached pension age.
Couple figures are combined and assume both of you are eligible. Illness-separated couples and transitional rates aren't modelled.
Rates and thresholds are indexed at different points in the year, so this is a snapshot rather than a forecast.

Common questions

Which test is actually reducing my payment?

The tool marks it — the card showing the lower figure is tagged as the one that applies. If it's the assets test, your assets are the constraint; if it's the income test, your deemed and other income is.

What does deeming mean if my savings earn less than that?

Centrelink assesses financial assets at set rates regardless of what they actually return. Earn more and the excess isn't counted against you; earn less and you're still assessed on the deemed amount. It removes the incentive to park money in poor-returning accounts.

Does my super count if I haven't started drawing it?

Once you've reached Age Pension age, super counts as an asset and is deemed for the income test whether or not you've started an income stream — so enter it in both fields. A partner under pension age is treated differently.

Should I spend down my assets to get a bigger pension?

If the assets test binds, reducing assessable assets does lift the payment at $3 a fortnight per $1,000. But gifting is capped — give away more than the limit and Centrelink keeps counting it as yours for five years. General information only, not advice.

Only one of us has reached pension age. Can I use this?

The couple setting assesses your combined income and assets, which is how Centrelink treats a couple even when one member doesn't qualify. But it shows the combined couple payment — if only one of you is eligible, expect closer to the couple, each partner figure in the advanced panel.

Sources: Services Australia — Age Pension (rates, tests and deeming) · All data sources

General information only, not financial advice. Figures are estimates based on the inputs and assumptions above and don't account for your personal circumstances. Confirm anything important with the relevant authority or a licensed adviser.

How this is calculated

Both tests start from the same maximum rate

Your financial assets are deemed, not measured

The income test tapers 50 cents in the dollar

The assets test tapers $3 per $1,000 a fortnight

You're paid the lower of the two