Age Pension Strategies in Melbourne
Eligibility assessment, asset structuring, and Centrelink concession guidance for pre-retirees and retirees across Melbourne.
Many Australians assume the Age Pension is either fully available to them or entirely out of reach, when the reality is usually more nuanced — and more valuable than people expect. Eligibility sits on a sliding scale determined by the assets and income tests, and a part pension, along with its associated concessions, is often available to people who assume they've saved their way out of it entirely. Read our Age Pension guide for a plain-English explanation of how the tests work.
At Amber Wealth in Brighton, we help pre-retirees and retirees across Melbourne understand exactly where they sit against the current tests, and where legitimate structuring can improve the outcome — without ever compromising the retirement savings the pension is meant to supplement. You can also estimate your retirement income using the official ASIC MoneySmart Retirement Planner.
Why Age Pension Strategy Is Worth Getting Right
The Age Pension isn't just an income supplement — eligibility, even at a part-pension level, typically unlocks concessions worth pursuing in their own right, including the Pensioner Concession Card and associated discounts on health, transport, and council rates. For many retirees, these concessions meaningfully change the practical cost of everyday life, independent of the pension payment itself.
Because eligibility is reassessed against your assets and income, decisions made elsewhere in your financial plan — how much you draw from super, how assets are structured, even the timing of a large purchase — can directly affect your entitlement. Age Pension strategy isn't a one-off calculation; it's an ongoing consideration woven through the rest of your Retirement Planning.
Our Age Pension Strategy Services
Eligibility Assessment
A clear assessment of your current position against the assets test and income test, including your Age Pension age based on current eligibility rules, so you know precisely where you stand rather than relying on assumptions.
Asset Structuring
Where appropriate and compliant, structuring your assets to optimise your entitlement — understood in the context of your whole retirement plan, not pursued at the expense of your underlying financial security.
Centrelink Concession Guidance
Guidance on the Pensioner Concession Card and other concessions tied to Age Pension eligibility, which are often worth as much in practical terms as the pension payment itself.
Ongoing Entitlement Reviews
The assets and income tests are reviewed periodically by Centrelink, and your own circumstances change over time. We provide ongoing reviews to ensure your entitlement — and any strategy built around it — stays current.
Age Pension Strategy Connected to Your Whole Retirement Plan
Age Pension eligibility interacts directly with superannuation drawdown strategy decisions, investment structuring, and the timing of major financial decisions in retirement. A strategy that improves pension eligibility in isolation, without regard for its effect on your broader retirement income or estate intentions, can create problems elsewhere.
This is why Age Pension strategy at Amber Wealth is developed alongside your Retirement Planning and superannuation strategy — as one connected plan, not a separate exercise handled without visibility of the rest of your position, including your Estate Planning intentions.
Why Clients Trust Amber Wealth With Age Pension Strategy
Adam Sobczak works specifically with pre-retirees and retirees, which means Age Pension strategy is a routine, well-practised part of the advice given — not an occasional or unfamiliar calculation. That familiarity extends to the practical realities of dealing with Centrelink processes and the kinds of questions that arise once an application is underway.
Based in Brighton and working with clients across Melbourne, Amber Wealth operates as a Corporate Authorised Representative of Lifespan Financial Planning Pty Ltd, AFSL 229892 — providing the accountability of a licensed advice framework alongside the personal attention of a boutique, retirement-focused practice. Learn more about working with a Financial Adviser Melbourne.
Frequently Asked Age Pension Questions
The amount of the Age Pension in Australia depends on whether you are single or a couple, whether you receive a full or part pension, and the current government rates, which are indexed and change regularly. As of 2026, the full Age Pension for a single person is approximately $31,000 per year and for a couple approximately $47,000 per year, though these figures are adjusted periodically. Your actual payment is determined by Centrelink's income and assets tests, with whichever test produces the lower rate being the one that applies. Many retirees receive a part Age Pension rather than the full amount, because the thresholds for a part pension are higher than for the full pension. Even a part pension can come with valuable concessions such as the Pensioner Concession Card. A financial adviser can estimate your likely payment based on your current position and the current rates.
Related: Age Pension Guide · Age Pension Strategies
Whether you are eligible for the Age Pension depends on your age, Australian residency history, and your income and assets. You must be aged 67 or older (for those born after 1 January 1957), meet residency requirements (typically at least 10 years of Australian residency, with at least 5 years continuous), and pass both the income test and the assets test. Many Australians who do not qualify for a full Age Pension still receive a part pension, because the thresholds for a part pension are higher than for the full pension. Even if your assets or income are above the full pension threshold, you may still receive a part pension and associated concessions. Your principal home is not counted in the assets test, which means many homeowners with moderate savings still qualify for some support. A financial adviser can assess your position against the current thresholds.
Related: Age Pension Guide · Age Pension Strategies
The Age Pension income test assesses income you earn against Centrelink thresholds to determine your pension rate. Income includes employment income, investment income, and deemed income from financial investments (Centrelink applies a set deeming rate rather than using your actual investment returns). As your income rises above the threshold, your pension tapers down by a set amount for every dollar of income above the threshold. Both the income test and the assets test are applied, and whichever produces the lower pension rate is the one that determines your payment. The thresholds and deeming rates are set by government and change periodically. Understanding how the income test applies to your specific income sources is important for estimating your entitlement. A financial adviser can assess your position against the current thresholds and discuss legitimate strategies to structure your income within the rules.
Related: Age Pension Guide · Age Pension Strategies
The Age Pension assets test measures the value of your assets against thresholds set by Centrelink to determine your pension rate. Your assets include investments, superannuation (once you reach Age Pension age), rental properties, savings, vehicles, and household contents, but your principal home is generally exempt. As your assessable assets rise above the threshold, your pension tapers down by a set amount for every $1,000 of assets above the threshold. Both the assets test and the income test are applied, and whichever produces the lower pension rate is the one that determines your payment. The thresholds are set by government and change periodically, with different thresholds for homeowners and non-homeowners. A financial adviser can assess your position against the current thresholds and discuss legitimate strategies to structure your assets within the rules.
Related: Age Pension Guide · Age Pension Strategies
Yes, you can get the Age Pension if you own your home, and in fact your home is generally exempt from the assets test, which means many homeowners with moderate savings still qualify for a full or part pension. The assets test thresholds are higher for homeowners than for non-homeowners, reflecting the fact that non-homeowners need more assessable assets to cover housing costs. Owning your home outright is one of the most significant factors in Age Pension eligibility, because it means your largest asset is not counted. However, other assets — including superannuation once you reach Age Pension age, investments, and savings — are still assessed. A financial adviser can assess your position against the current thresholds and discuss how your home ownership affects your entitlement.
Related: Age Pension Guide · Age Pension Strategies
How your superannuation affects the Age Pension depends on your age and how your super is structured. Before you reach Age Pension age (currently 67), your superannuation balance is generally not assessed under the assets test, and no deemed income is applied under the income test. Once you reach Age Pension age, your superannuation is assessed — both the balance (under the assets test) and deemed income (under the income test), regardless of whether you are drawing an income from it. If you transfer your super to an account-based pension, the balance is still assessed under the assets test, and the actual income you draw may be assessed under the income test. The interaction between super and the Age Pension is one of the most important areas to get right in retirement planning. A financial adviser can model how your super affects your entitlement and discuss legitimate strategies to structure your super within the rules.
Related: Age Pension Strategies · Superannuation & SMSF Advice
How your investments affect your Age Pension depends on the type of investments, how they are owned, and whether you have reached Age Pension age. Financial investments (shares, managed funds, bank accounts, term deposits) are assessed under both the assets test and the income test, with Centrelink applying deeming rates to calculate assumed income rather than using your actual returns. Investment property is assessed at its market value under the assets test, and rental income is assessed under the income test. The structure of your investments — whether held personally, in a trust, or in super — also affects how they are assessed. Because the rules are complex and the thresholds change periodically, it is important to understand how your specific investment portfolio affects your entitlement. A financial adviser can model the impact of your investments on your Age Pension and discuss legitimate strategies to structure your investments within the rules.
Related: Age Pension Strategies · Investment Management
Yes, financial planning can help you understand and, where appropriate, structure your affairs to optimise your Age Pension entitlement within the current rules. Strategies may include structuring your superannuation and investments to minimise their impact under the assets and income tests, understanding the timing of retirement and when to apply, considering how gifting, home improvements, or specific investment structures may affect your assessment, and ensuring you are not missing concessions you are entitled to. However, it is important to note that Age Pension rules and thresholds change periodically, and any strategy must be legitimate and compliant with current legislation. A financial adviser can assess your position against the current rules, model the impact of different strategies, and help you structure your affairs to optimise your entitlement without breaching the rules.
Related: Age Pension Strategies · Age Pension Guide
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