How Do I Apply for the Australian Old Age Pension?
Assets limits for a full Age Pension
| Situation | Current limit | |
|---|---|---|
| Single | Homeowner | $270,500 |
| Single | Non-homeowner | $487,000 |
| Couple (combined) | Homeowner | $405,000 |
| Couple (combined) | Non-homeowner | $621,500 |
How to claim your age pension in Australia?
1 print and complete the Claim for Age Pension and Pension Bonus form and the Income and Assets form 2 call us on the Older Australians line 3 go to a service centre. More …
How old do you have to be to get the age pension?
Age rules The first requirement that you must satisfy to be eligible for the Age Pension is reaching the minimum age. It is currently 66 years for both men and women, although this will increase to 66 years and 6 months from 1 July 2021, and to 67 years from 1 July 2023, as outlined in the table below. Source: Department of Social Services
What’s the purpose of the age pension in Australia?
Purpose of Payment/Benefit. The Age Pension is designed to provide income support to older Australians who need it, while encouraging pensioners to maximise their overall incomes. The Age Pension is paid to people who meet age and residency requirements, subject to a means test.
