What assets do you own?
Centrelink will use your assets to determine your Age Pension eligibility and payments.
If you own the home you live in…@headerTypeLevelDown>
… it may not be counted as an asset.
If you don’t own your home… @headerTypeLevelDown>
… you may hold more assets before your payments are reduced.
Are you a single or couple? @headerTypeLevelDown>
Age Pension payments differ for singles and couples.
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How much assets can I have and still get the Age Pension? @headerType>
How your assets affect your eligibility and pension paymentsSingle Couple1 Homeowner To receive the maximum Age Pension, your assets must be below: You won't receive the Age pension if your assets exceed: $301,750 $656,500
$543,750 $898,500 $451,500 $986,500 $693,500 $1,228,500
1Different limits apply for couples separated due to illness -
Which type of assets may be taken into account? @headerType>
The value of these assets may be taken into account once you’ve reached the qualifying age for Age Pension
Real estate you own
apart from your principal residence (if it’s under 2 hectares and you’ve lived there for at least 12 months)
Financial investments
including cash, shares, term deposits and bonds.
Life interests
the right to receive an income or use an asset for the rest of your life.
Granny flat deposit
money or asset you transfer to live in a granny flat for the rest of your life.
Super accounts
owned by you or your partner if/at over pension age
Retirement village deposit
money you pay to live in a retirement village.
Other assets
including motor vehicles and licences; life insurance policies; hobby collections; cryptocurrencies; household and personal items, e.g. computers and jewellery.
Gifts
assets or money given away to your family or friends that exceed either $10,000 in a single financial year or a total of $30,000 over 5 financial years.
Retirement income account
like a Choice Income account.
Business assets
if you’re in a business partnership or you’re a sole trader.
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Social security deeming rates @headerType>
A simple rate is applied to ‘deem’ the amount of interest you have earned from your financial assets. The calculation is used to determine how much to include as income under the income test.
If you’re single, the first $60,400 of your financial assets has the deemed rate of 0.25% applied. Anything over $60,400 is deemed to earn 2.25%. If you’re part of a couple and at least one of you get a pension, the first $100,200 of your combined financial assets has the deemed rate of 0.25% applied. Anything over $100,200 is deemed to earn 2.25%.
For details visit the Services Australia website.