Single: $952.70 per fortnight (approximately $24,770 per year) Couple (each): $718.10 per fortnight (approximately $18,670 per year) Couple (combined): $1,436.20 per fortnight (approximately $37,341 per year)

How much do you receive on the aged pension?

How much you get depends on your income and assets tests, and whether you’re single or in a couple. The maximum Age Pension for: singles is $868.30 a fortnight or $22,575 a year. couples is $1,309.00 a fortnight or $34,034 a year.

Can I get the aged pension if I have super?

It’s important to note that when you reach Age Pension age your super will count to both the assets and income tests. The balance of your latest super statement is included in the Age Pension assets test. Deeming is also applied to your income from all other financial assets as part of the Age Pension income test.

How much can you earn and still get full aged pension?

From 1 July 2019 you can earn up to $300 a fortnight if you’re still working and you will not have this amount included in your income test for the Age Pension. This amount is known as a ‘work bonus. ‘ The work bonus amount can be accumulated up to an amount of $7,800. You don’t need to apply to have this done.

What do you need to know about full age pension?

To be eligible for a full Age Pension the value of your assets must be below the following thresholds. Need to know: You also need to pass the income test and age and residency requirements. The asset free thresholds for full Age Pension are the same for couples living together and those separated by illness.

What happens if my wife is not eligible for age pension?

When you reach the Age Pension age and your wife has not, you will still be assessed under the income and assets test as part of a couple, and will receive the couple’s rate of Age Pension, one member eligible. If your wife does not work and is not eligible for an Age Pension, she may be eligible for Newstart Allowance.

When do the thresholds for full age pension change?

The thresholds for the full Age Pension change in July, while thresholds for the part Age Pension change in March and September. Discover the latest Age Pension rates here. Try our Age Pension calculator to get an indication of your potential Age Pension entitlements.

How do you get an age pension in Australia?

To qualify for the Age Pension in Australia you must have reached Age Pension age (which depends on your date of birth but is currently 66), satisfy Australian residency rules, and pass both an income test and an assets test. Depending on your level of income and the assets you own, you may qualify for either a full or part Age Pension.