Age Pension 2026: rates, assets test and income test
What you can get from 20 September 2026 and how the two tests work.
Key points
- Maximum rate: $1,237.70 a fortnight single, $1,866.00 for a couple combined.
- Full pension with assets up to $333,000 (single homeowner).
- Each $1,000 over the limit cuts the pension by $3 a fortnight.
- Deeming rates are 1.75% and 3.75% from 20 September 2026.
- Centrelink pays the lower of the income test and assets test results.
The Age Pension is paid to Australians aged 67 or older who meet residence rules and pass both an income test and an assets test. Rates rose on 20 September 2026. Here's what you can get and how the tests work.
Maximum rates from 20 September 2026
| Per fortnight | Per year (approx.) | |
|---|---|---|
| Single | $1,237.70 | $32,180 |
| Couple, each | $933.00 | $24,258 |
| Couple, combined | $1,866.00 | $48,516 |
These include the basic rate, the pension supplement and the energy supplement. Rates are indexed every March and September.
The assets test
You can have assets up to these limits and still get the full pension. Your home isn't counted, but cars, contents, super (once you're pension age), savings, shares and investment properties are.
| Homeowner | Non-homeowner | |
|---|---|---|
| Single | $333,000 | $600,000 |
| Couple, combined | $499,000 | $766,000 |
Above these limits, your pension drops by $3 a fortnight for every $1,000 of extra assets. A single homeowner stops getting any pension at about $745,750 of assessable assets.
The income test and deeming
You can have income of up to $226 a fortnight (single) or $396 (couple combined) without affecting your pension. Above that, it drops by 50 cents for each dollar (singles) or 25 cents each (couples).
Centrelink doesn't use what your savings, shares and super actually earn. It deems them to earn a set rate: from 20 September 2026, 1.75% on the first $66,800 (single) or $110,600 (couple), and 3.75% on the rest.
The Work Bonus lets you earn up to $300 a fortnight from work without it counting, and unused amounts build up in a bank of up to $11,800.
Which test applies?
Centrelink works out your pension under both tests and pays the lower amount. Examples for a single homeowner with $20,000 of cars and contents plus financial assets:
| Total assets | Deemed income /fn | Assets test reduction | Income test reduction | Pension /fn |
|---|---|---|---|---|
| $120,000 | $92.85 | $0.00 | $0.00 | $1,237.70 |
| $320,000 | $381.31 | $0.00 | $77.65 | $1,160.05 |
| $520,000 | $669.77 | $561.00 | $221.88 | $676.70 |
| $720,000 | $958.23 | $1,161.00 | $366.12 | $76.70 |
Estimates using 20 September 2026 rates, no other income. Your actual rate depends on your full circumstances.
For most people with modest savings, the assets test is the one that bites. Spending on home renovations, a car or a holiday reduces assessable assets, but gifting more than $10,000 a year ($30,000 over five years) still counts against you for five years.
Other things to know
- You need to have been an Australian resident for at least 10 years, with at least 5 of those in a row.
- Even a small part pension gets you the Pensioner Concession Card, which cuts the cost of medicines and some bills.
- You can apply up to 13 weeks before you reach pension age.
Frequently asked questions
How much is the Age Pension in 2026?
From 20 September 2026, up to $1,237.70 a fortnight for singles and $933.00 each ($1,866.00 combined) for couples, including supplements.
What is the Age Pension assets limit for a single homeowner?
You get the full pension with assessable assets up to $333,000. The pension then reduces by $3 a fortnight per $1,000, cutting out at about $745,750.
Is my home counted in the assets test?
No, your principal home isn't counted. Non-homeowners get higher asset limits to make up for it.
What are the deeming rates from 20 September 2026?
1.75% on financial assets up to $66,800 for singles ($110,600 for couples) and 3.75% above that.
Sources
- Services Australia: income test for Age Pension
- Social Security Guide: pension rates
- DSS: rates from 20 September 2026
- Services Australia: deeming
More guides
Last reviewed October 2026. This guide is general information only. It isn't financial, tax, credit or legal advice and doesn't consider your circumstances. Rules change, so check the official sources below or speak to a licensed professional before you make a decision.