Aged Care Information

 

Summary of Age Pension Entitlements

 

To qualify for Age Pension, you must satisfy age and residence requirements.  How much Age Pension you will get, depends on your income and assets and other circumstances.

 

Women born before 1 January 1949 reach qualifying age at 64.5

Women born between 1 January 1949 and 30 June 1952 reach qualifying age at 65.

Men born before 1 July 1952 reach qualifying age at 65.

 

Below is a table showing the payment rates of Age Pension (as of March 2014)

 

 

 

 

 

 

 

 

 

 

 

 

 Below is a table outlining the basic Assets Test (current as of March 2014)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 With respect to the Income Test, Single pensioners are allowed to earn $156 per fortnight and still receive the full pension.  Married couples can earn up to $276 per fortnight combined and still receive the full pension.

Below is a table showing the amount of income allowed before the pension cuts out (as of March 2014)

 

 

 

 

 

 

 

 

 

 

View 3 minute GEM Video on Age Pension

This information is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. We strongly suggest that no person should act specifically on the basis of the information contained herein, but should obtain appropriate professional advice based upon their own personal circumstances including personal financial advice from a licensed financial adviser and legal advice. Fortnum Private Wealth Pty Ltd ABN 54 139 889 535 AFSL 357306