Age Pension Rates 2026 — How Much Are You Entitled To?
Age Pension Rates 2026 — How Much Are You Entitled To?
The Age Pension is the foundation of retirement income for millions of Australians. Whether you currently receive it, are approaching eligibility age, or are trying to understand whether you qualify, this complete guide covers the current rates, eligibility requirements, and everything you need to know about Australia’s Age Pension in 2026.
Current Age Pension Rates 2026
From 20 March 2026 the maximum full Age Pension increased by $22.20 per fortnight for a single person and $33.40 combined for a couple. Seniors Enquiry Line
The current maximum rates are:
Single person:
- Base rate per fortnight — $1,051.30
- Pension supplement — $83.40
- Energy supplement — $14.10
- Total maximum fortnightly payment — $1,148.80
- Total maximum annual payment — $29,868.80
Couple combined:
- Base rate per fortnight — $1,585.60
- Pension supplement — $125.40
- Energy supplement — $21.20
- Total maximum fortnightly payment — $1,732.20
- Total maximum annual payment — $45,037.20
These rates are reviewed twice per year — in March and September — and adjusted in line with movements in the Consumer Price Index and average wages.
Who Is Eligible for the Age Pension?
To receive the Age Pension you must meet all of the following requirements:
Age Requirement
You must have reached Age Pension age which is currently 67 years for anyone born on or after 1 January 1957.
Residency Requirement
You must be an Australian resident and physically living in Australia when you claim. You must also have lived in Australia for at least 10 years in total with at least five of those years being continuous.
Income Test
The income test determines whether you receive the full pension, a part pension, or no pension at all.
Full pension — income must be below:
- Single — $212 per fortnight
- Couple combined — $372 per fortnight
Part pension — income must be below:
- Single — $2,444.60 per fortnight
- Couple combined — $3,737.60 per fortnight
For every dollar of income above the free area your pension reduces by 50 cents.
What counts as income:
- Employment income
- Investment income including interest, dividends, and rent
- Deemed income from financial assets
- Income from outside Australia
- Salary sacrifice amounts
What doesn’t count:
- The principal place of residence
- Gifts below certain thresholds
- Some compensation payments
Assets Test
The assets test looks at what you own rather than what you earn.
Full pension — assets must be below:
| Situation | Homeowner | Non-homeowner |
|---|---|---|
| Single | $314,000 | $566,000 |
| Couple combined | $470,500 | $722,500 |
Part pension — assets must be below:
| Situation | Homeowner | Non-homeowner |
|---|---|---|
| Single | $695,500 | $947,500 |
| Couple combined | $1,045,500 | $1,297,500 |
Your family home is not counted in the assets test regardless of its value.
What Other Payments Come With the Age Pension?
Once you receive the Age Pension you automatically become eligible for a range of additional benefits:
Pensioner Concession Card Provides significant discounts on medications through the PBS, bulk billing incentives for GPs, and access to state and territory concessions on utilities, transport, and rates.
Rent Assistance If you rent your home you may be eligible for additional rent assistance on top of your Age Pension. The amount depends on how much rent you pay.
Telephone Allowance A quarterly payment to help cover the cost of phone and internet connections.
Pension Loans Scheme Allows eligible retirees to supplement their income by drawing down on the equity in their home without selling it. Worth exploring if you own your home but need additional income.
How to Apply for the Age Pension
Applying for the Age Pension is straightforward but it’s worth starting the process up to 13 weeks before you reach eligibility age so your payments begin as soon as you qualify.
Online:
- Log into myGov at my.gov.au
- Link to Centrelink if you haven’t already
- Go to Payments and Claims
- Click Make a Claim
- Select Age Pension
- Follow the prompts
By phone: Call Services Australia on 13 23 00 — the Older Australians line.
In person: Visit your nearest Services Australia service centre with your identification and financial documents.
What you’ll need:
- Tax File Number
- Bank account details
- Details of all income sources
- Details of all assets including superannuation, savings, investments, and property
- Proof of identity
Can You Work and Still Receive the Age Pension?
Yes — but your earnings will affect how much pension you receive through the income test.
The Work Bonus allows pensioners to earn up to $300 per fortnight from employment without it affecting their pension. Any unused Work Bonus accumulates up to a maximum of $7,800 per year.
This makes part time work in retirement financially viable for many pensioners without losing all their pension entitlements.
What If You’re Not Eligible for the Full Pension?
If your income or assets are too high for the full Age Pension but you’re still over 67 you may be eligible for:
- Part Age Pension — a reduced payment if your income or assets are below the part pension thresholds
- Commonwealth Seniors Health Card — provides concession card benefits without the pension payment itself
- Pension Loans Scheme — supplements income using home equity
It’s worth checking all three options with Services Australia even if you assume you don’t qualify — many Australians are surprised to find they’re entitled to at least a part pension.
Frequently Asked Questions
When are Age Pension payments made? Payments are made fortnightly directly into your nominated bank account.
Are Age Pension payments taxable? The Age Pension itself is not taxable income for most recipients. However if you have other income sources your overall tax situation may vary — speak to a tax adviser if unsure.
What happens if I travel overseas? You can generally continue to receive the Age Pension while overseas. Following the 2026 Budget the full Pension Supplement will now be paid for up to 12 weeks overseas — extended from the previous 6 weeks.
Can I receive the Age Pension and superannuation at the same time? Yes — but your superannuation income and account balance will be counted in the income and assets tests and may affect how much pension you receive.
What if my circumstances change? You must notify Services Australia within 14 days if your income, assets, or living situation changes. Failure to do so can result in overpayments that need to be repaid.
The Bottom Line
The Age Pension provides essential financial support for millions of Australians in retirement. Understanding exactly what you’re entitled to — and making sure you’re receiving everything you qualify for — is one of the most important financial actions you can take as you approach or enter retirement.
If you’re unsure about your eligibility or entitlements contact Services Australia on 13 23 00 or visit servicesaustralia.gov.au. The call is free and the staff are genuinely helpful.
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