Age Pension Calculator Australia — Centrelink Entitlement Estimate 2026
How the Age Pension Calculator Australia Works
Age Pension rates and thresholds (approximate, FY2025–26, indexed March and September)
| Measure | Single | Couple (combined) |
|---|---|---|
| Maximum pension (per fortnight) | $1,144.40 | $1,725.20 |
| Maximum pension (annual) | $29,754 | $44,855 |
| Full pension assets threshold (homeowner) | $314,000 | $470,000 |
| Pension cut-out assets (homeowner) | $686,250 | $1,031,000 |
| Full pension income threshold (per fortnight) | $204 | $360 |
| Pension cut-out income (per fortnight) | $2,444.60 | $3,737.60 |
Real-World Examples — 2026
Single homeowner — $350,000 in super, no other income
A single homeowner with $350,000 in super/financial assets and no other income. Assets test: $350,000 is above the $314,000 full pension threshold. Reduction: ($350,000 - $314,000) / $1,000 x $3 = $108/fortnight reduction. Maximum pension is approximately $1,144/fortnight. Estimated pension: approximately $1,036/fortnight, or about $26,936/year.
Couple homeowners — $600,000 assets
A couple with $600,000 in combined assessable assets (homeowners). Full pension couple threshold is approximately $470,000. Reduction: ($600,000 - $470,000) / $1,000 x $3 = $390/fortnight for the couple. Maximum couple pension $1,725/fortnight. Estimated pension: approximately $1,335/fortnight, or about $34,710/year.
Frequently Asked Questions
What is the Age Pension eligibility age in Australia?
The Age Pension eligibility age is 67 for anyone born on or after 1 January 1957. It was gradually increased from 65 to 67 between 2017 and 2023. There is no plan to increase it further beyond 67 under current legislation, though this is periodically debated.
How does the assets test work for the Age Pension?
Centrelink reduces the Age Pension by $3 per fortnight for every $1,000 of assessable assets above the lower threshold. For a single homeowner in FY2025–26, the full pension is paid up to $314,000 in assets. The pension reduces to zero at approximately $686,250 in assets. Non-homeowners have higher thresholds ($543,750 full pension / $921,750 cut-out, approximately).
What is the deeming rate and how does it affect the income test?
The income test uses deeming rates to estimate income from financial investments (regardless of actual income received). Centrelink deems financial assets (super accounts in accumulation phase, bank accounts, shares) to earn: 0.25% on the first $60,400 (single) / $100,200 (couple) and 2.25% above those thresholds (rates as of May 2026). Actual income from investment properties and employment is assessed directly.
Does super count as an asset for the Age Pension?
It depends on your age and whether super is in accumulation or pension phase. Super in accumulation phase is not counted as an asset until you reach Age Pension age. Once you reach Age Pension age, all super balances (accumulation and pension) are counted as assessable assets. This means drawing down super before reaching pension age can reduce your assessable assets at the time of applying.
Can I receive both the Age Pension and income from super?
Yes. You can receive Age Pension payments and draw down super simultaneously. However, super drawdowns are assessed under the income test (minimum drawdown rates apply to super pensions). Many Australians use a combination of partial Age Pension and super drawdown in retirement. Centrelink's means tests determine how much pension you receive alongside your other income and assets.