Many retirees live on a mix of super and a part Age Pension. How much pension you get depends on your assets and income, including your super once you reach Age Pension age.

Reviewed 31/10/2026. General information only, not personal advice.

Two tests decide how much you get

To get the Age Pension you need to be 67 or older and meet residence rules. How much you get is then set by two tests. Whichever gives the lower pension applies.

• What's counted: Assets test: Assets such as super (once you're Age Pension age), bank accounts, shares, investment property, cars, contents and business assets. Income test: Income from work, investments and "deemed" income from financial assets, including super
• What isn't counted: Assets test: Your principal home. Income test: Some exempt income
• How it works: Assets test: Your pension reduces once your assets are over a set limit, and stops at a cut-off point. Income test: Your pension reduces once your income is over a set amount
• Limits: Assets test: Depend on whether you're single or a couple, and whether you own your home. Income test: Depend on whether you're single or a couple

The limits are reviewed regularly, so we haven't quoted them here. Services Australia publishes the current figures.

How your super is counted

• Accumulation accounts: counted once you reach Age Pension age
• Account-based pensions: counted under the assets test, and generally deemed under the income test
• Lifetime income streams: products bought from 1 July 2019 have special rules, where generally only part is counted

Deeming means Services Australia assumes your financial assets earn a set rate of income, whatever they actually earn.

Why a part pension matters

Even a small part pension can help:

• it reduces how much you need to draw from super each year, so your super can last longer
• it usually comes with a Pensioner Concession Card, which can mean cheaper medicines and other concessions
• as your super runs down over time, your pension can increase

Planning around the tests

Decisions such as gifting, home renovations, how assets are owned between partners, and when to move money into a pension can all affect your entitlement. Gifting has its own limits, and some strategies that look attractive can backfire. This is an area where personal advice can make a real difference.

See what it means for you

Your initial discussion is free, and any advice fees are explained before you decide to go ahead. Book an initial discussion or call 07 3733 1731. Meet face to face in Eight Mile Plains, or online anywhere in Australia.

Frequently asked questions

What is the Age Pension age?

The Age Pension age is 67.

Is my home counted in the assets test?

Your principal home isn't counted, but homeowners have a lower assets test limit than non-homeowners. Money from selling your home can be counted once it's in the bank or in super.

Is my super counted before I reach Age Pension age?

Super in accumulation that belongs to a person under Age Pension age is generally not counted. For a couple, a younger partner's super may not be counted until they reach Age Pension age. Pension accounts are counted.

Where can I find the current limits?

Services Australia publishes the current assets test and income test limits on its website. They're reviewed in March, July and September each year.

Related reading

• Retirement Planning
• Super calculator
• Account-based pension vs annuity
• Downsizer contributions