Are you receiving the correct Age Pension Payments?

Age Pension eligibility is calculated by a means test assessment.

Both income and assets are assessed by Centrelink/DVA in order to determine eligibility and payment amounts.

The current maximum age pension payments are

Single $1064.00 per fortnight

Couple $802.00 each per fortnight

Income assessment

Recipients are able to earn $204.00 per fortnight for singles ($360.00 for couples) before a reduction can be applied to payments. Payments are reduced to zero when annual income reached $60,632 for singles and $92.768 for couples.

Assets assessment

Home-owners ca have a maximum of #01,750 assessable assets ($451,000 for a couple) before pension payments are reduced. Payments are reduced to zero when assessable assets reach $656,000 for a single ($986,500 per couple)

Applicants who fail the income test for any pension payment may qualify for the Commonwealth Seniors Health Card if the income is between $60,632 and $90,000 for a single. ($144,000 combined income for a couple)

Are you receiving your correct payments?