Age Pension amounts and Age Pension eligibility are 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 $1144.40 per fortnight

Couple $862.60 each per fortnight

Age pension 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.

Age pension Assets assessment

Home-owners can have a maximum of $314,000 assessable assets ($470,000 for a couple) before pension payments are reduced. Payments are reduced to zero when assessable assets reach $686,250 for a single ($1,031,000 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?