Eligibility for the Age Pension is determined by a number of factors including:
- Age Requirement
- Residency Requirement
- Income Test
- Assets Test
Age Pension Rates as of March 20th 2016. Your age pension rate depends on several factors including:
- If you are single or a couple
- Your Income
- Your Assets
- Other factors
The Age Pension is indexed on 20th March and 20th September each year. Please note that the full increase amount will not apply until your first full payment after the increase date, a partial payment will be added to the first payment received.
You and your partners assets will affect how much pension you may be eligible for. The asset test limits are updated in January, March, July and September each year. Significant changes to the assets test came into force on 1st January 2017.
COTA have put together an information sheet with a summary of the 2017 changes to the pension
For more detailed information on assets test: