The amount of age pension you receive does depend on a few factors, such as your financial situation and whether or not you’re part of a couple.
Centrelink uses income and asset tests to work out how much age pension you’re entitled to.
The rates for a full age pension for Australian residents for the period 20 March 2021 to 19 September 2021 are:
- Single: $952.70 per fortnight.
- Couple (Each): $718.10 per fortnight.
- Couple (Combined): $1,436.20 per fortnight.
- Couples Separated Due To Illness: Each receives the Single rate, which combined is $1,905.40 per fortnight.
From 20 March 2021, the maximum full age pension increases $8.40 per fortnight for a single person and $6.30 per person per fortnight for a couple.
If you’d like to calculate how much super and pension you’ll have when you retire, check out Money Smart’s Superannuation & Pension Age Calculator.