Age Pension Overview (from 20 March 2026)

Income Test

• Single pensioners can earn up to $218 per fortnight and still get the full $1,200.90 pension.

• Couples can earn up to $380 per fortnight combined and receive the full $1,810.40 pension.

• Each person can also earn up to $460 per fortnight from work, which is excluded from the income test.

• Income above the threshold reduces the pension by $0.50 per extra dollar.

Work Bonus

• New pensioners (from 1 Jan 2024) get $4,000 in their income bank, plus the standard $300 per fortnight exemption.

• Earnings up to these amounts do not reduce the pension, so $460 per fortnight for 12 months can be fully excluded.

Assets Test

• Full pension for singles: under $321,500 (homeowner) / $579,500 (non-homeowner).

• Full pension for couples: under $481,500 (homeowner) / $739,500 (non-homeowner).

• Pension reduces by $3 per fortnight per $1,000 above these thresholds.

• Maximum assets for part pension: singles $722,000–$980,000, couples $1,085,000–$1,343,000.

All amounts include supplements. Couple figures assume both partners are of pensionable age.