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Combining your Retirement Super Pension with the Government Age Pension

Once you meet your qualifying age to access the Centrelink Age Pension, all your finances will be assessed by Centrelink to determine your eligibility. This includes money in super and pension accounts.

All super accounts are assessed by Centrelink once you meet the qualifying age, but there may be strategies to maximise the age pension.

How does it work?

Firstly, you need to be old enough for the Centrelink Age Pension. This is known as the Qualifying Age.

Date of birth Age Pension qualification age
1 July 1952 to 31 December 1953 65 years and 6 months
1 January 1954 to 30 June 1955 66 years
1 July 1955 to 31 December 1956 66 years and 6 months
From 1 January 1957 67 years

There are other requirements including residency. You also need to undertake Income and Assets Tests so Centrelink can determine how much (if any) Age Pension you’re entitled to receive. Centrelink will factor in your relationship status when assessing your entitlements.

How much is the age pension in Australia?

The rates are updated in March and September each year. The below rates are current for the March 2021 update.

Total $952.70 $718.10 $952.70
Per fortnight Single rate Couple (each) Couple apart due to ill health
Full age pension $868.30 $654.50 $868.30
Maximum pension supplement $70.30 $53.00 $70.30
Energy supplement $14.10 $10.60 $14.10

The amount you receive depends on your income and other assets – see the tests

What if I only qualify for a part pension?

There are two reasons why you might not qualify for the full pension:

  1. You have a number of assets that have been included in calculations, but your actual income is low. This is often referred to as being 'asset rich, but cash poor', or
  2. Your income from other sources is above the Centrelink pension thresholds.

Speak with a retirement specialist

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