If you’re approaching retirement, one of the biggest questions you might have is “How much superannuation can I have and still get a pension?”It’s a smart question and one that affects how you plan your income, manage your savings, and structure your retirement years.
In Australia, your superannuation balance can affect your eligibility for the government Age Pension, but that doesn’t mean you have to spend it all before you qualify.
Let’s break down how it works, how much super you can have and still get a pension, and how to make the most of both your savings and your entitlements.
Understanding the Age Pension and Super Relationship
The Age Pension is a government payment designed to help older Australians with living costs after they retire. It’s not based on how much tax you’ve paid it’s based on how much income and assets you have.
Superannuation, on the other hand, is your own money savings you’ve built up during your working life.
When you retire and start drawing from it, your super becomes part of your assets and income assessment for the Age Pension.
So, how much super you can have and still get a pension depends on:
- Whether you’re single or part of a couple
- Whether you own your home
- How you withdraw or invest your super
The 2025 Age Pension Assets Test
The government uses an assets test to decide if you’re eligible for the full or part Age Pension.
Here are the current thresholds (as of 2025):
| Status | Homeowner | Non-Homeowner |
|---|---|---|
| Single (Full Pension) | Up to $314,000 | Up to $566,000 |
| Single (Part Pension Cut-off) | Up to $686,250 | Up to $938,250 |
| Couple (Full Pension) | Up to $470,000 (combined) | Up to $722,000 (combined) |
| Couple (Part Pension Cut-off) | Up to $1,030,000 (combined) | Up to $1,282,000 (combined) |
If your assets (including super) are below the full threshold, you’ll likely receive the full Age Pension.
If your assets fall between the full and part thresholds, you’ll receive a reduced or part pension.
Does Super Count as an Asset Before and After Retirement?
Yes but the timing matters.
- Before Age Pension age (currently 67):
Super in the accumulation phase is not counted towards your assets if it’s still in your name and you haven’t retired yet.
However, your partner’s super might be included if they’ve reached pension age. - After you reach Age Pension age:
All super whether it’s in an account-based pension or accumulation account is counted as an asset under the Age Pension assets test.
That’s why it’s important to plan when and how you start drawing from your super.
How Much Super Can You Have and Still Get a Pension?
Here’s an example based on a typical retiree:
- If you’re a single homeowner with $314,000 or less in total assets (including super), you can get the full Age Pension.
- If you have up to around $686,000 in assets, you may still qualify for a part pension.
- For couples who own their home, a combined $470,000 or less in assets means a full pension, while up to $1.03 million still allows for a part pension.
In short:
You can have hundreds of thousands of dollars in super and still receive at least a part Age Pension depending on your total assets and how they’re structured.
What’s Included in the Assets Test?
The government includes most of your financial and personal assets in the test, 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 as an asset, which is why homeowners often qualify for more support than non-homeowners with similar total wealth.
What About the Income Test?
Alongside the assets test, there’s also an income test.
The government uses whichever test gives you the lower pension payment.
As of 2025:
- Singles can earn up to $212 per fortnight before their pension starts reducing.
- Couples (combined) can earn up to $372 per fortnight before reductions apply.
Every dollar over these limits reduces your pension by 50 cents per dollar (for singles) or 25 cents per dollar each (for couples).
Income can come from:
- Superannuation pensions (regular drawdowns)
- Investments and bank interest
- Part-time or casual work
See How Superannuation Works When You Retire
Strategies to Maximise Your Pension
If your goal is to qualify for at least a part Age Pension, here are some legal and strategic ways to optimise your position:
- Structure Your Super Wisely:
Once retired, consider moving your super into an account-based pension. It gives you income while keeping your money invested and some funds are treated favourably under the income test. - Review Assets Regularly:
The value of your assets can change with markets and spending. Regular reviews ensure you stay eligible for the right pension rate. - Use Gifting Rules Carefully:
You can gift up to $10,000 per financial year (or $30,000 over five years) without affecting your pension but gifting larger amounts can reduce your benefits. - Consider Your Home:
Downsizing or accessing home equity can affect your asset levels and pension eligibility, so get advice before making big decisions. - Get Professional Guidance:
A financial adviser can help balance your super drawdowns, investments, and pension benefits so you make the most of your retirement income.
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 may affect your eligibility and payment rate.
2. Can I still get a pension if I have a large super balance?
Yes, possibly. You may still qualify for a part pension if your total assets are below the government’s upper limits.
3. Does my home count in the assets test?
No. Your principal residence is exempt from the assets test, which benefits homeowners.
4. What’s better using super or relying on the pension?
Ideally, a mix of both works best. Super gives you control and flexibility early in retirement, while the pension provides security later in life.
5. Should I withdraw my super to qualify for a pension?
Not necessarily. The government monitors withdrawals, and spending down too quickly can leave you with less income long term. Always seek advice before making changes.
What Retirement Income Do I Need?
So, how much superannuation can you have and still get a pension?
It depends on your total assets, income, and whether you own your home but many Australians with $300K to $800K in super still qualify for at least a part Age Pension.
By understanding the rules and planning your withdrawals carefully, you can enjoy both the benefits of your super and the security of government support.
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.
Book a free consultation today to see how your super and pension can work together for a confident retirement.