Government Age Pension

When you retire, you may be eligible to receive the Age Pension, if you meet certain requirements first.

Qualifying for the Age Pension

Age requirements

Depending on your birthdate, from 1 July 2017 Age Pension age will be 65 years and 6 months.

After that, Age Pension age will go up 6 months every 2 years until 1 July 2023.

IF YOUR BIRTHDAY IS:	YOU'RE ELIGIBLE AT:
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

Source: Australian Government, Department of Human Services

Residence requirements

You must be an Australian resident and in Australia on the day you lodge your Age Pension claim. You also need to meet the government’s residency requirements.

Centrelink has more information.

Receiving the Age Pension

The amount Centrelink pays you depends on your income and assets.

Income and assets tests

The assets test lets you have a certain level of assets to qualify for the maximum Age Pension amount, while the income test lets you earn up to a certain amount of income before it affects your Age Pension payments.