13/10/2022, 10:42 Assets test for pensions - Age Pension - Services Australia

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Assets test
The assets test helps us work out if you can get paid Age Pension, Carer Payment or
Disability Support Pension. It also affects how much you'll get.

on this page

If you get a full pension

If you get a part pension

If you get a transitional rate of pension

If you get Disability Support Pension and are younger than 21 with no children

If you need other help

We assess all asset types [1] as part of the assets test. How much we can pay you depends on the value of your assets and if you’re in a relationship. There are limits to how much
you can have. We call these the assets test limits. The Department of Social Services reviews these limits and cut off points in January, March, July and September each year.

Your assets [1] include any property or possessions you own in full, in part, or have an interest in. This includes both:

assets held outside Australia

debts owed to you.

If you get a full pension

When your assets are more than the limit for your situation, your pension will reduce.

If you’re a member of a couple, the limit is for both you and your partner’s assets combined, not each of you.

Your situation Homeowner Non-homeowner

Single $280,000 $504,500

A couple, combined $419,000 $643,500

A couple, separated due to illness, combined $419,000 $643,500

A couple, one partner eligible, combined $419,000 $643,500

If you get a part pension

From 20 September 2022, part pensions cancel when your assets are over the cut off point for your situation.

If you’re a member of a couple, the limit is for both you and your partner’s assets combined, not each of you.

Your situation Homeowner Non-homeowner

Single $622,250 $846,750

A couple, combined $935,000 $1,159,500

A couple, separated due to illness, combined $1,103,500 $1,328,000

A couple, one partner eligible, combined $935,000 $1,159,500

If you get Rent Assistance [2] with your pension, your cut off point is higher.

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If you get a transitional rate of pension

From 20 September 2022, transitional rate pensions cancel when your assets are over your cut off point.

If you’re a member of a couple, the limit is for both you and your partner’s assets combined, not each of you.

Your situation Homeowner Non-homeowner

Single $565,500 $790,000

A couple, combined $880,000 $1,104,500

A couple, separated due to illness, combined $990,000 $1,214,500

A couple, one partner eligible, combined $880,000 $1,104,500

If you get Rent Assistance [2] with your pension, your cut off point is higher. You can find the rates by checking the Payment and Service Finder [3].

If you get Disability Support Pension and are younger than 21 with no
children
From 1 July 2022, Disability Support Pension cancels when your assets are over the cut off point for your situation.

If you’re a member of a couple, the limit is for both you and your partner’s assets combined, not each of you.

Your situation Homeowner Non-homeowner

16 to 17 years, single dependent $434,250 $658,750

18 to 20 years, single dependent $452,250 $676,750

16 to 20 years, single independent $507,500 $732,000

16 to 20 years, couple combined $872,000 $1,096,500

If you get Rent Assistance [2] with your pension, your cut off point is higher. You can find the rates by checking the Payment and Service Finder [3].

If you need other help

You can apply for Asset Hardship provisions [4] if you’re in severe financial hardship and your assets mean you either:

don’t get Age Pension

get a small amount of Age Pension.

Alternatively you may get help under the Home Equity Access Scheme [5].

[1]
Asset types

Assets are property or items you or your

partner own in full or part, or have an
interest in. They can affect your payment. 

Page last updated: 20 September 2022

This information was printed 13 October 2022 from https://www.servicesaustralia.gov.au/assets-test-for-pensions. It may not include all of the relevant
information on this topic. Please consider any relevant site notices at https://www.servicesaustralia.gov.au/site-notices when using this material.

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Printed link references

1. /asset-types?context=22526
2. /rent-assistance
3. https://www.centrelink.gov.au/custsite_pfe/pymtfinderest/paymentFinderEstimatorPage.jsf?wec-appid=pymtfinderest&wec-locale=en_US#stay
4. /asset-hardship-provisions?context=22526
5. /home-equity-access-scheme

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