To apply for the Age Pension in Australia, you need to be 67 or older, meet residency requirements, and pass both the income and assets tests. You can apply online through myGov linked to Centrelink, by phone on 132 300, or in person at a Centrelink service centre. Applications can be submitted up to 13 weeks before you turn 67.
The Age Pension is a fortnightly government payment that helps older Australians cover living costs in retirement. As of March 2026, the maximum payment is approximately $1,178.70 per fortnight for singles and $1,777.00 for couples combined. Below is a complete step-by-step guide to the application process, eligibility rules, and how to maximise your entitlement.
What Is the Age Pension?
The Age Pension is a fortnightly payment from the Australian Government designed to provide income support for Australians who have reached Age Pension age and meet residency, income, and asset requirements.
As of March 2026, the maximum Age Pension rates are approximately:
- Singles: $1,178.70 per fortnight (approximately $30,646 per year)
- Couples (combined): $1,777.00 per fortnight (approximately $46,202 per year)
These rates are indexed twice a year (in March and September) in line with changes to the Consumer Price Index, the Pensioner and Beneficiary Living Cost Index, and Male Total Average Weekly Earnings, according to Services Australia.
The Age Pension is not designed to fund a comfortable retirement on its own. The ASFA Retirement Standard (February 2026) estimates that a comfortable retirement requires annual income of approximately $54,840 for singles and $77,375 for couples. This is why most retirees combine the Age Pension with superannuation and other savings.
Who Is Eligible for the Age Pension?
To be eligible for the Age Pension, you must meet all of the following criteria:
Age requirement: You must be 67 years or older. This applies to all Australians regardless of when you were born (the Age Pension age was gradually increased from 65 and reached 67 on 1 July 2023).
Residency requirement: You must be an Australian resident and generally have lived in Australia for at least 10 continuous years, or for a total of 10 years with at least one period of 5 continuous years. Some exemptions apply if you have lived or worked in a country that has a social security agreement with Australia.
Income test: Your income from all source, including superannuation pensions, employment, investments, rental income, and deemed income from financial assets, must be below certain thresholds.
Assets test: The value of your assets (excluding your family home) must be below certain thresholds.
You must pass both the income test and the assets test. Centrelink uses whichever test produces the lower payment amount to calculate your entitlement.
Full details on eligibility are available on the Services Australia Age Pension page.
Age Pension Thresholds at a Glance (2026)
| Test | Single Homeowner | Single Non-Homeowner | Couple Homeowner (Combined) | Couple Non-Homeowner (Combined) |
|---|---|---|---|---|
| Full pension asset limit | $321,500 | $569,500 | $481,500 | $729,500 |
| Part pension cut-off | ~$695,500 | ~$943,500 | ~$1,045,500 | ~$1,293,500 |
| Full pension income limit | $212/fortnight | $212/fortnight | $372/fortnight | $372/fortnight |
| Part pension income cut-off | ~$2,444/fortnight | ~$2,444/fortnight | ~$3,737/fortnight | ~$3,737/fortnight |
| Maximum pension rate | $1,178.70/fortnight | $1,178.70/fortnight | $1,777.00/fortnight | $1,777.00/fortnight |
| Deeming rate (lower) | 1.25% on first $64,200 | 1.25% on first $64,200 | 1.25% on first $106,200 | 1.25% on first $106,200 |
| Deeming rate (upper) | 3.25% above threshold | 3.25% above threshold | 3.25% above threshold | 3.25% above threshold |
Age Pension Income Test Limits (2026)
The income test determines how much Age Pension you receive based on your assessable income from all sources.
Full pension income thresholds (you can earn up to this amount and still receive the full pension):
- Singles: up to $212 per fortnight
- Couples (combined): up to $372 per fortnight
Part pension cut-off (above this income, you receive no pension):
- Singles: approximately $2,444 per fortnight
- Couples (combined): approximately $3,737 per fortnight
For every dollar of income above the full pension threshold, your pension reduces by 50 cents (for singles) or 25 cents per person (for couples).
An important concept to understand is deeming. Centrelink doesn’t assess the actual income your financial assets earn. Instead, it applies a deemed rate of return. As of 2026, the deeming rates are:
- Lower rate (1.25%): applied to the first $64,200 of financial assets for singles (or $106,200 for couples combined)
- Upper rate (3.25%): applied to financial assets above those thresholds
This means if you have $500,000 in super and savings, Centrelink calculates your deemed income at roughly $15,000 per year regardless of what you actually earn. This can work in your favour if your investments are performing well, or against you if returns are low.
Age Pension Application: Quick Reference
| Step | What to Do | Timeline | Key Details |
|---|---|---|---|
| 1 | Set up myGov account and link to Centrelink | Any time before applying | Need ID verification passport, licence, or Medicare card |
| 2 | Gather documents | 2–4 weeks before applying | Income, assets, super balances, partner details, bank account |
| 3 | Submit application | Up to 13 weeks before turning 67 | Online (myGov), phone (132 300), or in person at Centrelink |
| 4 | Wait for assessment | 4–8 weeks after submission | Check status through myGov; may be asked for additional documents |
| 5 | Receive payments | Backdated to eligibility date | Paid fortnightly into your nominated bank account |
Age Pension Assets Test Limits (2026)
The assets test assesses the total value of your assets, excluding your primary home.
Full pension asset thresholds (you can own up to this amount and still receive the full pension):
- Single homeowner: up to $321,500
- Single non-homeowner: up to $569,500
- Couple homeowner (combined): up to $481,500
- Couple non-homeowner (combined): up to $729,500
Part pension cut-off (above this amount, you receive no pension):
- Single homeowner: approximately $695,500
- Single non-homeowner: approximately $943,500
- Couple homeowner (combined): approximately $1,045,500
- Couple non-homeowner (combined): approximately $1,293,500
Assets include superannuation (once you reach Age Pension age), bank accounts, investments, shares, managed funds, investment properties, vehicles, boats, caravans, and personal items of significant value.
Your family home is generally exempt from the assets test, regardless of its value. However, if you’re a non-homeowner or paying rent, higher asset thresholds apply.
For the most current thresholds, check the Services Australia assets test page.
When Should I Apply for the Age Pension?
You can submit your Age Pension application up to 13 weeks before you turn 67.
Applying early is strongly recommended. Processing times can vary and sometimes take several weeks. If you apply on time, your payments will typically be backdated to the date you became eligible, meaning you won’t miss out even if approval takes a few weeks.
If you apply late (after turning 67), payments generally start from the date you submit your claim, not from your birthday. This means delaying your application can cost you money.
In our experience advising 500+ Australian families, one of the most common mistakes we see is people waiting until after their 67th birthday to start the application process. Setting a calendar reminder for 13 weeks before you turn 67 is a simple step that ensures you don’t leave money on the table.
How Do I Apply for the Age Pension? Step-by-Step
Step 1: Set Up Your myGov Account
To apply online, you need a myGov account linked to Centrelink. If you don’t already have one, create it on the myGov website. You’ll need to verify your identity, which can be done online using documents like your passport, driver’s licence, or Medicare card.
Once your myGov account is set up, link it to Centrelink by selecting “Centrelink” from the list of member services. You may need to provide your Centrelink Reference Number (CRN) if you’ve had one before, or a new one will be created for you.
Step 2: Gather Your Documents and Information
Before starting your application, prepare the following:
- Personal identification: passport, driver’s licence, or birth certificate
- Residency history: dates of arrival in Australia, periods lived overseas
- Income details: superannuation pension statements, employment income, rental income, investment income, any foreign pensions
- Asset details: bank account balances, super balances, investment values, property details (excluding your home), vehicle values
- Partner’s details: if you have a partner, their income and assets are also assessed,even if they are not applying for the pension themselves
- Bank account details: BSB and account number for where you want payments deposited
Having everything ready before you start saves time and reduces the risk of your application being delayed due to incomplete information.
Step 3: Submit Your Application
You can apply through three channels:
- Online (recommended): Log into myGov, go to Centrelink, and follow the prompts to claim the Age Pension. The online form guides you through each section.
- By phone: Call Services Australia on 132 300 (the older Australians line) for assistance with your application.
- In person: Visit your local Centrelink service centre. Bring all your documents with you.
After submitting, Centrelink may request additional documents or information before finalising your claim. You can upload documents through your myGov account or bring them to a service centre.
Step 4: Wait for Assessment
Processing times vary but typically take 4–8 weeks. You can check the status of your claim through your myGov account at any time.
If your application is approved, payments are usually backdated to your eligibility date (your 67th birthday or the date you applied, whichever is later). You will receive a letter confirming your payment rate, the tests applied, and your reporting requirements.
Can I Work and Still Receive the Age Pension?
Yes. Many Age Pension recipients continue to work part-time, and the Australian Government encourages this through the Work Bonus.
The Work Bonus allows you to earn up to $300 per fortnight from employment income before it is counted in the income test. Any unused Work Bonus accumulates into a Work Bonus income bank, up to a maximum of $11,800.
This means if you haven’t worked for several months, you may have a significant balance in your Work Bonus income bank that shields your employment income from affecting your pension for a period of time.
The Work Bonus applies to employment income only, it does not apply to self-employment income, investment income, or superannuation pension income.
Common Mistakes to Avoid When Applying
Based on what we see with our clients, the most common mistakes include:
Applying too late. If you apply after turning 67, you lose payments from the period between your birthday and your application date. Apply 13 weeks early.
Not reporting all assets. Centrelink assesses superannuation balances once you reach Age Pension age, even if you haven’t started drawing on your super. Forgetting to declare super or investment accounts can lead to overpayments that must be repaid later.
Not understanding deeming. Many applicants expect Centrelink to assess their actual investment returns. Instead, Centrelink uses deemed rates (currently 1.25% and 3.25%). This can result in a higher or lower assessed income than what you actually earn.
Not reviewing asset structure before applying. How your assets are structured can significantly affect your pension entitlement. For example, the family home is exempt from the assets test, but an investment property is not. Decisions about where your wealth sits can mean the difference between receiving a full pension, a partial pension, or no pension at all.
Not updating Centrelink when circumstances change. If your income, assets, or living situation changes after approval, you must update Centrelink. Failing to do so can result in overpayments and debt.
Should I Get Financial Advice Before Applying?
For many Australians, speaking with a qualified financial adviser before applying for the Age Pension is one of the most valuable steps they can take.
The interaction between superannuation, investments, property, Age Pension thresholds, and deeming rates is complex. Small structural decisions,like how much to hold in super versus outside super, or whether to draw a lump sum before turning 67, can materially affect your pension entitlement.
In our experience, clients who receive structured advice before their Age Pension application typically receive higher entitlements than those who apply without professional guidance. The reason is simple: once you understand how the income and assets tests work, you can make informed decisions about where your money sits, legally and legitimately.
If you’re approaching Age Pension age and want to ensure you’re structured correctly, our guide on how retirement works in Australia explains the broader picture of how super, the Age Pension, and personal savings work together across each phase of retirement.
And if you’re wondering whether your super balance is on track to support you before the Age Pension kicks in at 67, our article on can I retire early in Australia with low super explores strategies for bridging the gap between super access at 60 and pension eligibility at 67.
FAQs: How Do I Apply for the Age Pension?
You can apply online through your myGov account linked to Centrelink, by phone on 132 300, or in person at a Centrelink service centre. You can submit your application up to 13 weeks before you turn 67. You will need personal identification, income and asset details, and your bank account information.
You must be 67 years or older to receive the Age Pension in Australia. This age applies to all Australians regardless of date of birth, following the gradual increase from 65 that was completed on 1 July 2023.
As of March 2026, the maximum Age Pension is approximately $1,178.70 per fortnight for singles (around $30,646 per year) and $1,777.00 per fortnight for couples combined (around $46,202 per year). The actual amount you receive depends on your income and assets.
The assets test assesses everything you own excluding your family home. For a full pension in 2026, single homeowners can have up to $321,500 in assets and couple homeowners can have up to $481,500 combined. A partial pension is available up to approximately $695,500 for single homeowners and $1,045,500 for couple homeowners.
Yes. The Work Bonus allows you to earn up to $300 per fortnight from employment income before it is counted in the income test. Unused amounts accumulate in a Work Bonus income bank up to $11,800. Self-employment and investment income do not qualify for the Work Bonus.
Processing typically takes 4 to 8 weeks. If you apply up to 13 weeks before turning 67, payments are usually backdated to your eligibility date. Applying late means payments start from your application date, not your birthday.
Deeming is how Centrelink calculates income from your financial assets. Instead of using your actual investment returns, it applies deemed rates: 1.25% on the first $64,200 for singles ($106,200 for couples) and 3.25% on assets above that. This assessed income counts towards the income test regardless of what you actually earn.
Yes, particularly if you have significant superannuation, investment properties, or complex asset structures. How your assets are structured when you apply can significantly affect your pension entitlement. A financial adviser can help you understand the income and assets tests and ensure you are positioned to receive the maximum entitlement you are legally eligible for.
Take Control of Your Age Pension Application
Applying for the Age Pension doesn’t need to be stressful. By understanding the eligibility rules, preparing your documents early, and submitting accurate information, you can access the support you’re entitled to and enjoy greater financial security in retirement.
At Wealthlab, we help Australians approaching Age Pension age structure their finances for the best possible outcome maximising entitlements while ensuring superannuation, investments, and government benefits all work together.
Book a free consultation today to review your Age Pension strategy before you apply.
Take Control of Your Age Pension Application
Applying for the Age Pension doesn’t need to be stressful. By understanding the eligibility rules, preparing your documents early, and submitting accurate information, you can access the support you’re entitled to and enjoy greater financial security in retirement.
At Wealthlab, we help Australians approaching Age Pension age structure their finances for the best possible outcome, maximising entitlements while ensuring superannuation, investments, and government benefits all work together.
Book a free consultation today to review your Age Pension strategy before you apply.