If you’re approaching retirement, one of the biggest questions on your mind might be: how much superannuation can I have and still get the Age Pension? It’s a smart question, and it shapes how you plan your income, manage your savings and structure your retirement years.
The short answer: quite a lot. Under the current limits, a home-owning couple can hold up to $499,000 in assessable assets, including super, and still receive the full Age Pension, with a part pension available up to $1,102,500 combined. Your super affects your eligibility, but there is no requirement to spend it all before you qualify.
Here is how the tests work, what the current limits are, and where structure makes a real difference.
Understanding the Age Pension and Super Relationship
The Age Pension is a government payment designed to help older Australians with living costs. It is not based on how much tax you’ve paid. It is based on how much income and assets you have.
Superannuation, on the other hand, is your own money, built up over your working life. Once you reach Age Pension age, your super becomes part of your assets and income assessment.
How much super you can hold while still receiving a pension depends on three things: whether you’re single or part of a couple, whether you own your home, and how your super and other assets are structured.
The 2026 Age Pension Assets Test
The government uses an assets test to decide whether you receive the full Age Pension, a part pension or nothing. These are the current thresholds:
| Status | Homeowner | Non-Homeowner |
|---|---|---|
| Single (Full Pension) | Up to $333,000 | Up to $600,000 |
| Single (Part Pension Cut-off) | Up to $733,500 | Up to $1,000,500 |
| Couple (Full Pension) | Up to $499,000 (combined) | Up to $766,000 (combined) |
| Couple (Part Pension Cut-off) | Up to $1,102,500 (combined) | Up to $1,369,500 (combined) |
Current as at August 2026, per the Services Australia assets test page. These figures are set by the Australian Government and are reviewed in March, July and September each year, so check the current limits before relying on them.
If your assessable assets are below the full pension threshold for your situation, you can receive the full Age Pension. Between the full threshold and the cut-off, the pension reduces by $3 per fortnight for every $1,000 of assets above the lower limit, until it stops entirely at the cut-off.
Please note: All figures, projections and scenarios in this article are approximate and for illustrative purposes only. Individual outcomes will vary based on personal circumstances, investment returns, fees, and current government policy. This is general information, not personal advice.
Does Super Count as an Asset Before and After Retirement?
Yes, but the timing matters, and this is where a lot of people get caught out.
Before Age Pension age (currently 67): Super in the accumulation phase is generally not counted in the income and assets tests, provided your fund is not paying you a pension. This is about your age, not whether you’ve retired. A partner’s super is treated the same way: it stays exempt until that partner reaches Age Pension age.
After you reach Age Pension age: All of your super, whether in an account-based pension or still in accumulation, is counted under the assets test.
That is why the timing of when and how you start drawing on super deserves real thought. We covered the flip side of this rule, including how the younger spouse’s accumulation account can shelter assets and how starting an account-based pension too early can end Centrelink eligibility, in our post on how to retire before 67 without draining your super.
How Much Super Can You Have and Still Get a Pension?
Working through the table above with typical situations:
- A single homeowner with $333,000 or less in total assessable assets, including super, can receive the full Age Pension. A part pension remains available up to $733,500.
- A home-owning couple with a combined $499,000 or less can receive the full pension, with a part pension available up to $1,102,500 combined.
In short, many Australians with several hundred thousand dollars in super still qualify for at least a part Age Pension, depending on their total assets and how those assets are structured.
One piece of original analysis worth sitting with, because it changes how people think about these thresholds: under the $3 per $1,000 taper, every extra $100,000 of assessable assets above the full pension threshold reduces the pension by $7,800 a year. We generally find that for couples in the middle of the part pension range, extra super largely replaces pension income rather than adding to it, which means combined retirement income barely moves between a moderate balance and a noticeably larger one. It is one of the most counterintuitive features of the whole system, and it is exactly the kind of thing worth modelling properly before making big decisions. Want a rough sense of your own position? The free Wealthlab super calculator is a two minute starting point.
What’s Included in the Assets Test?
The test counts most financial and personal assets, including:
- Superannuation (once you reach Age Pension age)
- Bank accounts and investments
- Managed funds and shares
- Vehicles, boats and caravans
- Business assets
- Property other than your home
Your principal home is not counted, which is why homeowners often qualify for support at similar total wealth levels where non-homeowners would not, and why the thresholds differ between the two.
What About the Income Test?
Alongside the assets test sits an income test, and Centrelink pays you based on whichever test produces the lower amount.
Current as at August 2026:
- Singles can have income up to $226 per fortnight before the pension starts reducing, cutting out entirely at $2,627.80 per fortnight.
- Couples can have combined income up to $396 per fortnight, cutting out at $4,016.80 combined.
Every dollar over the free area reduces the pension by 50 cents (singles) or 25 cents each (couples). Assessable income can include super pension drawdowns, deemed income on financial investments, rental income and wages, though the Work Bonus currently lets eligible pensioners earn up to $300 a fortnight from work before it counts. These figures are indexed by the government, typically in March, July and September, so verify current amounts with Services Australia.
Phil summed up this whole area on our podcast episode on how the Age Pension really works: “Like everything our government does, navigating super, the Age Pension, retirement, all that stuff’s a complex bloody minefield.” That episode walks through real worked examples of the assets and income tests, including how timing an asset sale around retirement cut one couple’s tax bill from $98,000 to $11,000. For more on how super and retirement income fit together, see our guide on how superannuation works when you retire.
Ways Retirees Commonly Approach the Tests
There is no single right structure, but these are the areas we generally find worth reviewing:
- Super structure and timing. Whether and when to move super into an account-based pension affects both income and flexibility, and the timing interacts with Centrelink assessment in ways that are easy to get wrong. This is a decision many retirees take advice on before acting.
- Regular reviews. Asset values move with markets and spending. Part pensioners in particular can gain or lose entitlement as thresholds index each year, so periodic reviews help keep the rate right.
- Gifting rules. Gifts of up to $10,000 per financial year (and $30,000 over five years) do not affect the pension, but amounts above that are still assessed for five years. Larger gifts made to improve pension eligibility generally do not work.
- The family home. Downsizing converts exempt home value into assessable cash, which can reduce a pension even though it frees up money. Decisions involving the home reward advice taken beforehand, not after.
- Professional guidance. An adviser can model how super drawdowns, investments and the pension interact for your specific numbers, which is usually where the taper insight above becomes concrete.
FAQs: How Much Super Can I Have and Still Get a Pension?
1. Does super affect my Age Pension? Yes. Once you reach Age Pension age, your super counts as an asset and can affect your eligibility and payment rate, whether it is in accumulation or pension phase.
2. Can I still get a pension with a large super balance? Possibly. A part pension remains available up to $733,500 in assessable assets for a single homeowner and $1,102,500 combined for a home-owning couple, current as at August 2026.
3. Does my home count in the assets test? No. Your principal residence is exempt regardless of its value, though homeowners have lower asset thresholds than non-homeowners to reflect this.
4. Is it better to use super or rely on the pension? For many retirees the two work together: super provides flexibility and control, while the pension provides a base of secure income, and the right mix depends entirely on individual circumstances. Whether any particular approach suits your situation is a conversation for a qualified adviser.
5. Should I withdraw my super to qualify for a pension? Spending super down quickly to gain pension eligibility can leave you with less income over a long retirement, and Centrelink’s gifting and deprivation rules limit what asset reductions achieve. It is a decision worth taking advice on before acting.
6. When do the thresholds change? The Department of Social Services reviews the limits in March, July and September each year. The figures in this article reflect the most recent indexation and were last reviewed in August 2026.
Where to From Here?
Many Australians with $300,000 to $800,000 in super still qualify for at least a part Age Pension, and structure often matters as much as the balance itself. If any of this has raised questions about your own position, have a chat with us. No pressure, no jargon. Book a free call with the Wealthlab team, take the free retirement quiz for a general snapshot, or read more about our pension and Centrelink advice.
At Wealthlab, we help Australians make smart, compliant decisions to balance superannuation, investments, and Age Pension benefits ensuring your retirement income lasts as long as you do.
