The Commonwealth Government payment rates change due 20 March 2002 are not available as yet from Centrelink.

Australian Social Security Information

Age/Invalid Pension Information                Back to rates and parameters
(Source: Centrelink)

Newstart/Widow/Mature Age/Partner Allowance Information        (Source: Centrelink)

Parenting Payment
(Source: Centrelink)

Age Pension Rates and Reductions                                             Your personal situation (Couple)             Your personal situation (Single)

• Man aged 65 or over, OR
• Woman please refer to the table below:

• Must be an Australian resident and in Australia on the day the claim is lodged.
• Must have been an Australian resident for a total of over 10 years, at least 5 of these in one period.
• Residence in certain countries with which Australia has a reciprocal agreement may count towards Australian residence OR
• May have a qualifying residence exemption (arrived in Australia as refugee or under a special humanitarian program) OR
• A woman is widowed in Australia and both partner and woman were Australian residents and has 104 weeks residence immediately prior to claim OR
• Was a recipient of Widow Pension, WA, Partner Allowance or Mature Age Allowance immediately before turning Age Pension age.

Basic Pension Rates:

Your benefits may be reduced depending on you income and your assets. The reductions for both income and assets are calculated and the greater one applies. The pharmaceutical allowance is, however, income and assets test free.

Income is money you earn, derive or receive for your own benefit. It can be a regular payment, gift or allowance. It also includes income from outside Australia. Some examples of income assessed include:

• deemed income from financial investments ( if you are single, you are deemed to earn 3.0% pa on  your first $33,400   and 4.5% pa thereafter and if you are a couple, 3.0% pa on your first $55,800 and 4.5% pa thereafter.)
• income from non-financial investments
• gross income from earnings
• income from boarders and lodgers
• real estate and business income, including farms (net interest and expenses)
• superannuation pensions and overseas pensions
• immediate annuities and allocated pensions

An asset is any property or possession you partly or wholly own. It includes assets held outside Australia and debts owing to you. An asset value is the amount you could get if  you sold on the open market, less any valid debts owing to you on that particular asset. For couples, your joint assets are assessed. Assets assessed include:

• cash and money in the bank, building society or credit union accounts (including interest-free accounts), interest bearing deposits, fixed deposits, bonds, debentures shares, property trusts, insurance or friendly society bonds, some rollover investments (depending on your age) and other managed investments
• real estate, including holiday homes
• business and farms, including goodwill
• life insurance policies at surrender value
• amounts disposed of without adequate financial return (above certain amounts)
• gifts above certain amounts (including gifts to family members)
• loans to family trusts, family members or organisations, including interest free

The following items are NOT included in the asset test:

• the home that you live in, and the land around the home used for domestic purposes, not exceeding two hectares
• certain immediate annuities purchased prior to 15 august 1989
• all superannuation/rollover investments, until you reach the age of 55 and have recieved a pension and/or allowance for a period of 39 weeks since turning 55; or until age pension age
• income stream products with all of the required characteristics including, payments must be the same amount each year except for allowable indexation increases, there must be no residual capital value, and the products cannot be commuted. These products ensure an orderly drawdown of income and capital over the entire retirement period and allow no further access to capital and are either lifetime products ( where life expectancy is greater than 15 years, between 15 years and life expectancy) that are purchased at or after pension age.
• any property or monies left to you in an estate which you have not yet recieved
• medals or decorations for valour (not held for investment or hobby purposes)
• an amount paid in advance for funeral expenses or a cemetary plot
• aids for disabled people
• vehicles provided by the Department of Veteran's Affairs under the Vehicle Assistance Scheme
• the proceeds from the sale of your principal home which you intend to use, within the next 12 months, to purchase another home; and
• compensation or insurance payments for loss or damage to buildings or personal effects. (There are sometimes limits on exemptions for this type of asset.)

Centrelink requires you to provide your own estimate of the Net Market Value of your assesable assets. Net Market Value is the amount you would get if you sold your asset now, less any debts on the asset such as registered mortgages, hire purchase debts or loans. The Net Market Value is not the amount you paid for the asset, the amount it's insured for or what it would cost to replace.

Household fixtures such as stoves and built-in items are not included as assets. If you are unable to estimate the value of your household items and personal effects, Centrelink will accept an amount of $10,000, unless you show that these items are worth more or less than this amount.

The rates and parameters for the Age Pension are tabled below.

Income test and reduction rates:

Note: If you are a member of a couple, your joint income is assessed.

Assets test and reduction rates:

Note: If you are a member of a couple, your joint assets are assessed.

Click here to view Centrelink's Age Pension information.

Newstart/Widow/Mature Age/Partner Allowance                                                        Your personal situation      
                                                                                   (Partner Allowance see below)

• Must be unemployed, and capable of undertaking, available for and actively seeking work or temporarily incapacitated for work.
• Aged 21 or more but under Age Pension age and registered as unemployed, OR
• Where you have been in receipt of Newstart Allowance/SA continuously since 17 June 1997 and you are under 20, you will remain on Newstart Allowance.
• May do training and voluntary work with approval.
• Willing to enter into an Activity Agreement if required, allowing participation in a broad range of activities.
• Newstart Allowance recipients incapacitated for work remain on Newstart Allowance, subject to medical certificates.

• be 60 years of age or over but less than Age Pension age
• have had no recent workforce experience (recent workforce experience means 13 weeks or more work of at least 20 hours a week, in the last 12 months)
• been an Australian resident and be living in Australia; AND
• have received a Newstart Allowance for at least 9 months and be on Newstart Allowance at the time of claim; OR
• have received a payment of  a Social Security pension or a Veteran's Affairs service pension, or a Widow, Partner, Sickness or Parenting allowance at any time within 13 weeks immediately before claiming; OR
• have previously received Mature Age Allowance

Note: Mature Age Allowance is not activity tested. As a result, recipients are not required to look for work or do training.

• a man or woman of any age
• whose partner has died
• who was living with their partner immediately before their partner's death
• who is not a member of a couple
• who is not receiving any other pension, allowance or benefit; and
• who is not eligible for Widow B Pension or Sole Parent Pension

Note: If the person and their deceased partner were Australian residents at the date of death, no period of prior residence is requires. In other cases, five years residence immediately prior to the claiming or ten years continuously at any other time is required.

• be the partner of a  person aged at  least 21 who is receiving Newstart Allowance, Sickness Allowance, Special  Benefit, Rehabilitation Allowance, Age Pension,  Disability Support Pension, Disability Wage Supplement, Mature Age Allowance, DVA Service Pension or a  living allowance.
• have been born on or before 1 July 1955
• not be qualified for Parenting Payment (i.e. have  no dependent children for whom Parenting   Payment would be payable)
• have had no recent workforce experience (recent workforce experience means 13 weeks or more work of at least 20 hours a week, in the last 12 months);  AND
• be a resident of Australia and be  in  Australia  (the allowance may be continued to be paid during temporary absences from Australia of no longer than 3 months.)

The following table shows the basic allowance rates (before deductions):

Payment rates are fortnightly.

Reduction Rates:

Your allowance may be reduced depending on your income. Your partner's income may also affect your rate of pay. If your assets exceed certain limits, then your allowance will cease.

Income test rates and reductions:

Click here to see what is assessed in the income test.

Your partner's income can also reduce your allowance. Your partner's  income test free limit is $555.00 per fortnight. Your allowance is then reduced by $0.70 for every $1 they earn over this amount. This does not apply to Partner's Allowance.

If you recieve Partner's Allowance, your income is assessed as half your combined income.

Asset test rates and reductions:

Click here to see what is assessed in the assets test.

Note: If you are a member of a couple, your joint assets are assessed.

If your assets exceed the limits below, your allowance will cease.

Waiting periods

Activity tested allowances do not start until you have exhausted your Income Maintenance and Liquid Assets Waiting Periods.

The Liquid AssetsWaiting Period expressed in weeks is calculated by dividing the excess of your liquid assets over a threshold by a factor as follows :

and cannot exceed thirteen weeks.

Parenting Payment

The Parenting Payment replaces the Sole Parent Pension and the Parenting Allowance.

• have a dependent child under the age of 16; and
• have income and assets under certain amounts; and
• have been an Australian resident for 104 weeks (not including absences) or be a refugee, or became a sole parent while an Australian Resident. Sole parents may also be able to get a parenting payment  for a child over 16, if they receive Child Disability Allowance for this child; and
• partnered parents may be eligible for some Parenting Payment without an assets test.

Note: You cannot get Parenting Payment if you are already getting an income support payment such as Newstart Allowance or an equivalent payment from another Department.

Basic Rates of Pay:

An Education Entry Payment of $208.00 may be payable. For sole parents only, there is also a payment of $104.00 available.

Reduction Rates:

Income Test Limits:

Click here to see what is assessed in the income test.

Your parenting payment can also be reduced depending on your partner's income. The assessment free limit is $555.00 . Your payment is then reduced by $0.70 for every $1 your partner earns over this amount. Your   partner's income cannot reduce your payment below $62.00 . If you are receiving worker's compensation payments, your Parenting Payment is reduced by $1.00 for every $1 of compensation earned.

Assets Test Limits:

Click here to see what is assessed in the assets test.

Note: If you are a member of a couple, your joint assets are assessed.

If your assets exceed the limits below, your allowance will  be cut-off.

Back to Rates and Parameters