FirstTech
FY25 Pocket Guide
Age Pension calculator

  • Age Pension age
    Date of birth Age
    (male and female)

    Prior to 1 July 1952

    		 65

    1 July 1952 – 31 December 1953

    		 65.5

    1 January 1954 – 30 June 1955

    		 66

    1 July 1955 – 31 December 1956

    		 66.5

    1 January 1957 and later

    		 67

    Pensions include Age Pension, Disability Support Pension, Carer Payment, DVA Age and Invalidity Service Pension.

    For veterans, DVA Service Pension age for males and females is age 60.

    For non-veteran spouses, DVA Service Pension age is the Centrelink Age Pension age.

  • Pensions - maximum rate of payment
    Single1 Single1 pf Single1 pa

    Basic rate 

    $1,047.10

    $27,224.60

    Maximum pension supplement 2 

    $83.20

    $2,163.20

    Energy supplement 

    $14.10

    $366.60

    Total 

    $1,144.40

    $29,754.40
    Couple Couple (each) pf Couple (each) pa

    Basic rate

    $789.30

    $20,521.80

    Maximum pension supplement 2 

    $62.70

    $1,630.20

    Energy supplement 

    $10.60

    $275.60

    Total 

    $862.60

    $22,427.60

    Amounts shown are for the period 20 Sep 2024 – 19 Mar 2025.

    1

    Applies to each member of an illness separated couple.

    2

    Includes minimum pension supplement of $44.80 (singles) and $33.80 (couple each).

     

  • Pension assets test
    Assets test For full pension Cut-off limit

    Single homeowner

    $314,000

    $695,500

    Single non‑homeowner

    $566,000

    $947,500

    Couple homeowner (combined)

    $470,000

    $1,045,500

    Couple non‑homeowner (combined)

    $722,000

    $1,297,500

    Illness‑separated couple homeowner (combined)

    $470,000

    $1,233,000

    Illness‑separated couple non‑homeowner (combined)

    $722,000

    $1,485,000

    Amounts shown are for the period 20 Sep 2024 – 19 Mar 2025.

    The lower asset threshold is indexed 1 July and asset cut-off limits are indexed 20 March, 1 July and 20 September.

    Maximum pension reduced by $3pf for every $1,000 of assets over the lower threshold for a single person and $1.50pf for each member of a couple.

    Cut-off limits are higher if client qualifies for rent assistance.

  • Pension income test
    Family situation Fortnightly income for full pension Cut-off limit

    Single

    Up to $212

    Less than $2,500.80

    Couple (combined)

    Up to $372

    Less than $3,822.40

    Couple, illness separated (combined)

    Up to $372

    Less than $4,949.60

    Amounts shown are for the period 20 Sep 2024 – 19 Mar 2025.

    The lower income threshold is indexed every 1 July and income cut-off limits are indexed every 20 March, 1 July and 20 September.

    Maximum pension reduced by 50 cents for every dollar over the lower threshold for a single person and 25 cents for every dollar for each member of a couple.

    Cut-off limits are higher if client qualifies for rent assistance.

  • Age pension - asset ranges for income or asset testing
    Family situation Max age pension in this asset range Reduced age pension under income test in this asset range Reduced age pension under assets test in this asset range
    Single homeowners $0 to $310,622 $310,623 to $314,569 $314,570 to $695,500
    Couple homeowners $0 to $470,000 N/A $470,001 to $1,045,500
    Single non-homeowners $0 to $310,622 $310,623 to $609,041 $609,042 to $947,500
    Couple non-homeowners $0 to $532,133 $532,134 to $754,000 $754,001 to $1,297,500

    Thresholds shown are for the period 20 Sep 2024 – 19 Mar 2025.

    This table demonstrates whether an individual will receive the maximum rate of age pension, or a reduced pension under either the income or assets test based on their level of assessable assets. It assumes $10,000 in non-income producing assets and the remainder subject to deeming. Note, using different assumptions will provide different results.

Contacts
Disclaimer