How the Age Pension works
When you are planning your retirement, it is important to know about all the options available to help you.
The Commonwealth Government Age Pension is designed to provide a back-up income if you don’t have enough retirement savings in super or other investments. You could be eligible to receive a full or part Age Pension along with your super savings.
You could qualify for the Age Pension when you turn 65
At the moment, the retirement age for Australians is 65, but this is set to change in the coming years. See the table.
The money you save in super will help you enjoy a more comfortable retirement than simply relying on the government Age Pension.
|If you were born between||You qualify for Age Pension at age|
Before 30 June 1952
1 July 1952 to 31 December 1953
65 years and six months
1 January 1954 to 30 June 1955
1 July 1955 to 31 December 1956
66 years and six months
From 1 January 1957
You could be eligible for the Age Pension
If you’re 65 years or older and meet residential conditions and the income and assets tests, you could be eligible to receive the Age Pension.
The amount of support you receive would depend on your income and assets tests. The total balance of your super or Retirement Income Pension account will be taken into consideration.
The income test checks your fortnightly income as a single person or a couple against maximum limits. Your income will affect whether you’re eligible for a full pension, part pension or no pension from the government.
For more information about the income test, or to see how your income would be assessed, visit the Centrelink website.
Being eligible for a full or part pension depends on whether you are single or part of a couple and whether you own a home. Generally, the value of the property and investments you or your partner own or have an interest in - except the home you live in - are assessed in the assets test.
There are limits to how much your assets can be worth for you to qualify to receive a full or part pension. The asset test limits are updated in January, March, July and September each year.
For more information about the assets test, and a full list of the types of assets that are included in this test, please visit the Centrelink website.
Retirement discounts with a Commonwealth Seniors Health Card
If you’re not eligible for the Age Pension, you could still receive discounts through the Commonwealth Seniors Health Card (CSHC). This card provides access to cheaper prescription medicines, Australian government-funded medical services and other government concessions.
To qualify for the CSHC, you need to meet eligibility requirements. To find out more, refer to the Department of Human Services website.
Find out more to prepare for your retirement
We offer a range of seminars to help you understand, manage and grow your super.
You can also use the Financial Information Service (FIS) provided by Centrelink. For more information, visit the Department of Human Services website or speak directly to a FIS officer by calling 13 23 00.
Thank you for printing this page. Remember to come back to gesb.wa.gov.au for the latest information as our content is updated regularly. This information is correct as at 21 November 2019.