Age Pension Guide
Understand how Australia's Age Pension works, who may be eligible, how payments are assessed and where to find official government information.
What Is the Age Pension?
The Age Pension is a government income support payment designed to assist eligible older Australians with living costs during retirement.
Eligibility depends on several factors, including:
Age
You must be of qualifying age.
Residency
Australian residence rules apply.
Income
Income may affect payments.
Assets
Assets may affect payments.
Not everyone receives the same payment, and some people may not qualify at all. Each application is assessed individually by Services Australia based on the rules that apply at the time.
General Information Only
This information is educational and does not consider your personal financial circumstances.
The Four Key Factors
Age Requirement
The current Age Pension age is 67 for most people. You must have reached this qualifying age to apply.
Residency
Australian residence requirements apply. In most cases, people need at least 10 years of Australian residence, including at least 5 continuous years.
Income Test
Income you receive may affect both your eligibility and the rate of payment. Different types of income can be treated differently.
Assets Test
The value of certain assets you own may affect both eligibility and payment rates. Some assets are treated differently to others.
How Eligibility Is Assessed
Meet Age Requirement
Be at least 67 years old.
Meet Residency Rules
Satisfy Australian residence requirements.
Income Test
Have your income assessed.
Assets Test
Have your assets assessed.
Payment Assessment
Services Australia determines your payment rate.
Services Australia assesses each application based on individual circumstances and the rules that apply at the time of assessment.
Understanding the Income Test
- What income means: the test generally looks at money you receive from sources such as employment, investments and some superannuation income streams.
- Why it's assessed: to determine whether you qualify for payment and, if so, at what rate.
- Different treatment: different income sources may be treated differently under the rules, so not all income is counted the same way.
- Rules can change: the thresholds and how income is assessed can change over time. Always check official government information for current rules.
Read the Official Rules
Detailed definitions, current thresholds and worked examples are published by Services Australia. Refer to the official source for the most accurate and up-to-date information.
Read Official Income Test InformationExamples of Assets That May Be Assessed
- Investment properties
- Savings
- Shares
- Managed funds
- Vehicles
Some assets may be treated differently under the rules — for example, your principal home is generally not counted. Always check the official source for how each asset type is assessed.
Understanding the Assets Test
The assets test looks at the value of assets you own to help determine whether you qualify for the Age Pension and at what rate.
Some assets are treated differently to others, and the rules can change over time. For current thresholds and how each asset type is assessed, refer to the official government information.
Read Official Assets Test InformationOther Support Available
In addition to the Age Pension, other forms of support may be available. Eligibility varies, so always refer to official government information for current criteria.
Commonwealth Seniors Health Card
A card that may help with the cost of certain health services for eligible self-funded retirees who do not qualify for the Age Pension.
Pensioner Concession Card
A card that may provide access to a range of concessions for eligible Age Pension recipients.
Rent Assistance
A payment that may be available to eligible people who rent their home, subject to the rules.
Energy & State-based Concessions
Various concessions on energy and other services that may be offered by state and territory governments and energy providers.
A Simple Path to Claiming
Learn About Eligibility
Review the age, residency, income and assets requirements on the official Services Australia website.
Gather Identification
Collect the documents you may need to verify your identity as part of your claim.
Review Income & Asset Information
Prepare details of your income and assets so they can be accurately assessed.
Submit an Application
Lodge your claim through Services Australia, following their current process.
Manage Your Payment
If approved, keep your details up to date and report any changes that may affect your payment.
Frequently Asked Questions
Helpful Government Resources
Always refer to the official government websites for the most current eligibility criteria, payment rates and claim information.
Services Australia
Australian Taxation Office
Need Personal Retirement Advice?
Government information explains how the Age Pension works, but everyone's circumstances are different. If you would like advice tailored to your situation, Amber Wealth can help you understand how the Age Pension may fit into your broader retirement plan.