Estimate your Australian Age Pension entitlement for 2026. Enter your income, assets, and financial investments to calculate your fortnightly payment using the income test, assets test, and deeming rules — includes March 2026 rates, Work Bonus, and couple calculations.
Income + Assets TestDeeming RulesWork Bonus
01 —INPUTS
Must be 67 or older to qualify
Super, savings, shares, managed funds — subject to deeming
Car, contents, caravan, investment property equity (not your home)
Annual gross employment income — Work Bonus of $300/fn applies
Rental income, foreign pension, account-based pension, etc. per year
02 —RESULTS
Fortnightly Pension$1,186.80
Annual Pension$30,856.80
03 —BREAKDOWN
Max Rate /fn
Base pension$1,100.30
Pension supplement$86.50
Max rate$1,186.80
Income TestLimiting
Deemed income$0.00 /fn
Total assessable income$0.00 /fn
Free area$218.00 /fn
Pension from income test$1,186.80 /fn
Assets Test
Financial assets$0.00
Other assets$0.00
Total assessable assets$0.00
Threshold (single, homeowner)$321,500.00
Pension from assets test$1,186.80 /fn
Cut-off$722,000.00
You qualify for the full Age Pension. Both the income test and assets test are within the full-rate thresholds.
The Age Pension uses a two-test system. Services Australia calculates your entitlement under both the income test and the assets test, then pays you the lower of the two results. If either test reduces your pension to zero, you receive nothing.
To be eligible, you must be at least 67 years old and have been an Australian resident for at least 10 years, with at least 5 of those continuous. Age Pension rates are indexed twice a year (March and September) based on the higher of CPI, PBLCI, or the MTAWE benchmark.
Income test
Income Test and Deeming Rules
The income test assesses fortnightly income from all sources — employment, investments, deemed income from financial assets, superannuation income streams, and overseas pensions. Above the income free area, pension reduces by 50 cents per dollar.
Single income free area$218/fn ($5,668/yr)
Couple combined income free area$380/fn ($9,880/yr)
Taper rate50c per $1 above free area
How Deeming Works
Rather than using actual returns, Services Australia applies standardised deeming rates to the total value of your financial assets:
First $64,200 (single) / $106,200 (couple)1.25% per year
Balance above that3.25% per year
The deemed income is added to your other assessable income. If your actual returns exceed the deeming rates, the excess is not counted.
Work Bonus
The Work Bonus allows Age Pension recipients to earn up to $300 per fortnight from employment without it counting in the income test — in addition to the standard income free area. Unused Work Bonus accrues into an income bank up to $11,800. New pensioners start with a $4,000 opening balance. Work Bonus only applies to employment income — not deemed income, rental income, or superannuation income streams.
Assets test
Assets Test
The assets test counts virtually everything you own — bank accounts, shares, managed funds, superannuation, investment properties, vehicles, caravans, boats, and household contents. The major exclusion is your principal home. Above the lower threshold, pension reduces by $3 per fortnight per $1,000 of assets.
Situation
Lower Threshold
Cut-off
Single, homeowner
$321,500
$722,000
Single, non-homeowner
$579,500
$980,000
Couple, homeowner
$481,500
$1,085,000
Couple, non-homeowner
$739,500
$1,343,000
Non-homeowners receive thresholds $258,000 higher than homeowners to account for funding housing from assets.
Couples
How It Works for Couples
When both partners are eligible, Services Australia assesses combined income and combined assets. The couple income free area is $380/fn combined. Couple asset thresholds are approximately 50% higher than single thresholds — $481,500 vs $321,500 for homeowners. The maximum combined couple rate is $1,810.40/fn ($905.20 each).
If only one partner has reached pension age, the eligible partner is assessed at the couple rate but only receives their half. The other partner's income and assets are still included in the combined assessment.
FAQ
What is the Australian Age Pension?
The Age Pension is a fortnightly payment from the Australian Government for people who have reached Age Pension age (67 years). As of March 2026, the maximum rate is $1,200.90 per fortnight for singles ($31,223 per year including pension supplement) and $1,810.40 per fortnight for couples combined ($47,070 per year). The payment is means-tested — your entitlement depends on both your income and your assets, and Services Australia pays you based on whichever test produces the lower result.
How does the Age Pension means test work?
The means test has two parts: an income test and an assets test. Services Australia calculates your pension under both tests and pays you the lower amount. Under the income test, your pension reduces by 50 cents for every dollar of fortnightly income above the free area ($218 for singles, $380 for couples combined). Under the assets test, your pension reduces by $3 per fortnight for every $1,000 of assets above the threshold ($321,500 for single homeowners, $481,500 for couple homeowners). Your principal home is excluded from the assets test.
What is deeming?
Deeming is the method Services Australia uses to assess income from financial assets (bank accounts, shares, managed funds, superannuation in pension phase). Rather than using your actual returns, they assume (deem) your financial assets earn a set rate of return. The first $64,200 of financial assets for singles ($106,200 for couples) is deemed to earn 1.25% per year; everything above that is deemed at 3.25%. For example, if you are single with $200,000 in financial assets, the deemed income would be $64,200 × 1.25% + $135,800 × 3.25% = $802.50 + $4,413.50 = $5,216 per year ($200.62 per fortnight).
What counts as an asset for the Age Pension?
The assets test includes virtually everything you own: bank accounts, shares, managed funds, investment properties, vehicles, caravans, boats, household contents, superannuation (both accumulation and pension phase), and any other personal or financial assets. The main exclusion is your principal home — the property you live in is not counted. Funeral bonds up to the allowable limit, special disability trusts, and certain complying income streams may also be fully or partially exempt. If you are a non-homeowner, you receive higher asset thresholds to compensate for not owning a home.
What is Work Bonus?
Work Bonus allows Age Pension recipients to earn up to $300 per fortnight from employment without it being counted in the income test. This is on top of the standard income free area. Any unused Work Bonus accrues into an income bank, up to a maximum of $11,800. New pensioners start with a $4,000 opening balance in their Work Bonus income bank. Work Bonus only applies to employment income (wages, salary, self-employment) — it does not apply to investment income, deemed income from financial assets, or superannuation income streams. See Services Australia Work Bonus.
How is the Age Pension calculated for couples?
For couples, Services Australia assesses your combined income and combined assets. The income free area is $380 per fortnight combined (compared to $218 for singles), and pension reduces by 50 cents for every dollar above that. Asset thresholds are also combined — $481,500 for couple homeowners or $739,500 for couple non-homeowners. The maximum combined couple rate is $1,810.40 per fortnight ($905.20 each). Both members of the couple must have reached Age Pension age (67) to receive the full couple rate. If only one partner qualifies, the eligible partner is assessed at the couple rate but only receives their half.
Age Pension calculations use rates from 20 March 2026. Actual entitlements may differ based on residency, relationship status changes, or income that is not captured by this calculator. Contact Services Australia for a formal assessment.