Age Pension Calculator — assets test & income test
Estimate your Age Pension in seconds. See your fortnightly and annual payment, which of Centrelink's two means tests limits it, and how far you are from the full-pension and cut-off thresholds. Rules as at 1 July 2026.
Age Pension starts at 67
Everything except your family home — super, savings, shares, investment property, car, contents
e.g. net rental income or wages, before tax. Don't include interest or dividends — deemed income covers those
Estimated part Age Pension: $699.90 a fortnight
That's about $18,197 a year. Your payment is limited by the assets test.
You're $167,000 above the full-pension asset limit of $333,000. Every $1,000 of assets above the limit reduces your payment by $3 a fortnight. It reaches $0 at about $733,300.
Assets test
Counts what you own (home excluded)
Payment under this test
$699.90/fortnight
Income test
Counts deemed + actual income
Payment under this test
$1,027.09/fortnight
Centrelink runs both tests and pays whichever gives the lower amount. Rates and thresholds as at 1 July 2026 — source: Services Australia.
Want to see how the Age Pension fits into your whole retirement picture — super drawdown, spending, and how your entitlement changes as your assets run down?
Try the full planDisclaimer: This calculator provides estimates for general information purposes only. Results may not be 100% accurate and should not be relied upon for financial decisions. Tax rules, rates, and thresholds change — always verify with the ATO, official government sources, or a qualified financial adviser, tax professional, or accountant. This is not financial advice.
How the Age Pension means tests work
Centrelink runs two separate tests on everyone who reaches Age Pension age (67):
- The assets test — counts what you own (except the home you live in). Above the asset-free threshold, your payment drops $3.00 a fortnight for every $1,000 of assets.
- The income test — counts your income, including an assumed return on your financial assets (called deemed income) plus actual income like rent or wages. Above the income-free area, your payment drops 50 cents for every $1 of fortnightly income.
You get paid under whichever test gives the lower amount. That's why this calculator shows both tests side by side and tells you which one binds — knowing your binding test tells you which lever (assets or income) actually moves your payment.
Why the part pension matters so much
For middle-wealth retirees, the part pension is often the difference between a comfortable retirement and a tight one. A couple with $800,000 in super still gets a meaningful part pension — and as they spend their savings down, their pension automatically rises. Most retirement calculators built overseas ignore this entirely and make Australians look far worse off than they are.
What this calculator does not include
- The residency rules (generally 10 years of Australian residency)
- The Work Bonus (lets you earn some wages without affecting the income test)
- Transitional rates, Rent Assistance, and other supplements beyond the standard ones
- Gifting rules (assets given away in the last 5 years can still be counted)
- Special treatment of lifetime annuities, funeral bonds, and granny-flat interests
Your actual entitlement is determined by Services Australia (Centrelink) based on your full circumstances. To see how the Age Pension interacts with your super drawdown year by year, try the JettWorth play mode — no sign-up required.
Frequently asked questions
At what age can I get the Age Pension?
Age Pension age is 67 for everyone born on or after 1 January 1957. You also generally need to have been an Australian resident for at least 10 years. Reaching 67 does not guarantee a payment — your assets and income are means-tested from that point.
Does my home count in the assets test?
No. The home you live in is exempt from the assets test no matter what it's worth. The trade-off is that homeowners get a lower asset-free threshold: as at 1 July 2026, a single homeowner gets the full pension with assets below $333,000, while a single non-homeowner's threshold is $600,000 ($499,000 and $766,000 for couples combined).
What counts as assets for the Age Pension?
Almost everything you own except your family home: superannuation (once you are pension age), bank accounts, shares and ETFs, investment property, vehicles, caravans, business assets, and household contents (valued at what they would sell for, not what they cost). For couples, assets are combined.
How does the assets test reduce my pension?
Above the asset-free threshold, your payment reduces by $3.00 per fortnight for every $1,000 of extra assets. Centrelink also runs an income test, and pays you under whichever test gives the lower amount.
What is deeming and how do the deeming rates work?
Centrelink does not count the actual earnings on your financial assets (cash, super, shares). Instead it "deems" them to earn a set rate: as at 1 July 2026, 1.25% on the first $66,800 for singles ($110,600 for couples) and 3.25% above that. This deemed amount is counted as income for the income test — even if your real returns are higher or lower.
How much is the Age Pension for singles vs couples?
As at 1 July 2026, the maximum rate including supplements is about $1,200.90 per fortnight for a single (around $31,223 a year) and $1,810.40 per fortnight combined for a couple (around $47,070 a year). Means testing can reduce these to anywhere between the full rate and zero.
Rates, sources, and accuracy
All rates, thresholds, and deeming rates on this page are as at 1 July 2026, sourced from Services Australia. Pension rates are indexed in March and September and thresholds in July, so figures change through the year.
Important: this is not financial advice
JettWorth is an insights platform, not a licensed financial adviser. This calculator provides general information only — actual Age Pension entitlements are determined by Services Australia (Centrelink) based on your full circumstances. Always confirm with Services Australia or a qualified financial adviser before acting on what you see here.