When is the Age Pension eligibility age changing? 18



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From recent responses to topics on the Age Pension we thought we’d update you on the changes that will happen to the Australian Age Pension starting from next year.

Currently you can claim it if you are 65 years or over, subject to residency, income and assets criteria.

Changes to the age we can start to claim it kick in on 1 July 2017 and effect those born on or after 1 July 1952.

From 1 July next year (for anyone planning their retirement now) the qualifying age for Age Pension will increase from 65 years to 65 years and 6 months.

The qualifying age will then increase by 6 months every 2 years, reaching 67 years by 1 July 2023.

If you were born between You qualify for Age Pension at age
1 July 1952 to 31 December 1953 65 years and 6 months
1 January 1954 to 30 June 1955 66 years
1 July 1955 to 31 December 1956 66 years and 6 months
From 1 January 1957 67 years

The Income Criteria reduces the full pension amount by whatever income you earn by working, or are ‘deemed’ to earn from investments.

If you are a self-funded retiree or still working, you may be able to get a part pension.

If you are single you can earn up to $162 per fortnight before the pension will decrease by 50 cents for every dollar over that.

If you are a couple combined or separated due to ill health your combined income can be $288 per fortnight before your pension will decrease by 50 cents for each dollar over that.


The Assets Criteria describes the sorts of assets that will and will not be included to assess your level of pension.

Over all the major difference is still whether you own your own home or not.

If you don’t own your own home Rent Assistance may change the rates of assistance you receive.

Family situation For homeowners
full pension assets must be less than
For non-homeowners
full pension assets must be less than
Single $205,500 $354,500
Couple combined $291,500 $440,500
Illness separated couple combined $291,500 $440,500
One partner eligible, combined assets $291,500 $440,500

Assets test limits for part pensions

Family situation For homeowners
part pension assets must be less than
For non-homeowners
part pension assets must be less than
Single $788,250 $937,250
Couple combined $1,170,000 $1,319,000
Illness separated couple combined $1,457,000 $1,606,000
One partner eligible, combined assets $1,170,000 $1,319,000

If you are caring for another person, or living with a permanent disability you may be eligible for the Carer’s Pension or the Disability Support Pension before these retirement ages.

You can find the latest information on Pensions and planning for retirement from the Department of Human Services website or any Centrelink office.

Does the pension assist you, or are you hoping it will in the future?


Starts at 60 Writers

The Starts at 60 writers team seek out interesting topics and write them especially for you.

  1. As of January 2017 the assets for a couple on part pension will reduce from $1.170’000 to $823,000. Your information is the present amount.

  2. Thanks for the informative article. It explains everything very clearly and succinctly.

  3. Geez..aren’t we so fortunate…Single on a full pension allowed to earn $80 a week..
    So for around 50 years of paying taxes, a portion of the tax was set aside for pensions in old age…Trouble is the government got into that account and squandered that huge nest egg of thousands of Australians.
    that’s why there is nothing left and the pension is so pathetic.. We have a right to live in a decent pension it’s not a gift from the government it’s something we paid taxes for 50 years

    3 REPLY
    • So right denise.My wife andI planned for years to retire together, then they moved the goal posts,so it would now mean I would have to go until I am72 to retire together . should have been a pollie and retire around 45-50 and get back into government for a 2nd bite at the cherry.

  4. I did not want to get involved in this discussion but obviously someone out there gains pleasure out of stirring other people who are genuinely concern. That person should get on his motorbike and ride off into the night, alternatively just grow up. On the serious subject I cannot find a party who is going to this election with a policy about the age pension. I do not include the superannuation changes recently made. They do not make working sense; will not have the effect of creating employment and certainly will not effect any pensioner on a age pension or part age pension or soon to be on either. By eventually raising the age person age to 70years albeit in instalments the government has bought basically 5 years without any new pensioners, a considerable amount of money saved but without thought for those who been planning their retirement for some years. No safeguard arrangements exist. The age pension is far behind that of other developed countries and loosing ground with the alleged average weekly income. Very few current age pensioners had time to consider superannuation for long before retirement therefore have nil or limited amounts available.Those who have cash investments, money on term deposits , are receiving the lowest returns ever with the expectation interest going lower. They have little choice but to break into there cash reserves which is a worry for many. Nothing wrong in doing so, cannot take the cash with you, so spend it wisely stretched over the year you think you may have left. Keep a bit in reserve just in case you live longer. For those who rely on the age pension only there is nothing in any Parties policies for increases to age pension. That is wrong and it could be seen that all parties believe age pensioners to be a burden especially when their slogan is ‘the new economy’. We are not in the new economy!! Finally all of us on an age pension should hold or heads up high. We paid for the right to a pension within the tax structure in existence at the time, many had bad luck, or unfortunate circumstances. A society is judged by how it looks after and takes care of the aged but not the latest politicians but then they have no need to as they will receive their “entitlements” come what may and they bear no relationship to the common folks. Good luck people , take time to send a email to your local member, thats about all you can do.

    1 REPLY
    • How true Paul, I am a pensioner and it is so hard, as I had nothing after working 45 years. I pay rent of $600 f/n and try and do everything else with what is left. Its a disgrace.
      Politians should not get massive pensions considering they only work in the job for an estimate of 10 years. The politians are not listening to this as many people have voiced their concerns. In fact they should get no pension as they earn far more and have more investments then allowed under the pensioners allowance.

  5. The current pension is at lest $250 pr fortnight behind what is needed for a couplle to live then take into account the 50cents in the $ but no one mentions the tax that has to be paid on top of that which if you work the govt ends up taking at lest 69.5% over $19000 this counrty wants you gone after 70

  6. I think the Government spent our saved pension money on illegal boat immigrants, and consequently then spent what was left trying to keep Australia free from home bred terrorists. Home bred meaning the illegal immigrants who preach hatred, and threaten with bombs. Think about it, before the boat people, we needed an awful lot less to keep ourselves safe. Billions have been spent on middle easterners who jump the queue. Then when some become radical, and abuse our once very safe country, there is eerie silence by even the supposed good muslims. They say they come here for a peaceful life, so why not make it happen. They brought the problem with them, they should be part of the solution. Instead of using our money the government should have used their own extravagant lavish pensions.

    1 REPLY
    • Priorities are all wrong. Not spending $50 billion on a small fleet of submarines would go along way to providing for the social needs of poorer and ageing Australians.

  7. You have said it all Denise! My thoughts exactly.

  8. I might add, that due to the introduction of the superannuation scheme so late in my life, i have been unable to accumulate enough funds to be able to enjoy my retirement comfortably. It seems that many people around my age (72) are being penalised because of this fact. Not our fault it has happened this way. Please don’t take any more from us.!!

    1 REPLY
    • Hi Jan I am the same as You through no fault of my own. I am in the same boat. I worked in between having 4 children no super back then I am 70 this year and still working 64 hrs per fortnight I do get a part pension of around $20. To $80 per fortnight depending on my wage. As I do shift work and sat and Sundsays I also pay tax on that. Small amount. Where are the breaks for people in our shoes. My husband died at 51. And I was 47. So it has been difficult. As he did not have much in super. Due to the stock market crash in the 80 s. And he died early 90s. His super was not much. So please the government of the day think of us please.

  9. Qcould you please explain the assets part, does this include the family home or just cash assets. Ie single home owner assets allowed for full pension is $202,500. This wouldn’t include the home as an asset would it.

    1 REPLY
    • Exempt assets

      An exempt asset is a specific type of asset that is disregarded irrespective of its value when we work out your payment rate. We consider the following assets exempt under the assets test:

      * your principal home and generally up to 2 hectares of privately used, surrounding land on the same title as your home.


  10. It is time the deeming rate was adjusted to reflect available interest rates.

    Deeming is used to calculate income for assessment of your payment.

    From 1 July 2015:

    * if you’re single and receive an income support payment, the first $48,600 of your financial investments is deemed to earn income at 1.75% per annum and any amount over that is deemed to earn income at 3.25% per annum
    * if you’re a member of a couple and at least one of you receive a pension, the first $80,600 of your and your partner’s combined financial investments are deemed to earn income at 1.75% per annum and any amount over that is deemed to earn income at 3.25% per annum

    Setting the deeming rates

    Deeming rates are continually monitored to ensure that they’re appropriate and reflect returns across a range of investment choices available in the market.

    From 20 September 2017 the deeming provision thresholds for payments which are means tested will be reset to $30 000 for singles and $50 000 for couples


  11. Vote with your feet, lets send the major parties a message do not vote for labour or liberal, vote for minor parties but not the greens the greens will bring more ilegals emigrants in this country. Vote indipendents vote for Nick X he is an honest politician maybe if gets enough votes he will become a major party in next election. If labour or liberal gets in .god help us all .both parties have destroyed this beautiful country of ours. They don’t care about the people they only care just to stay in power. Good luck.

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