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How much money do you get on the pension?
The standard age pension for Australians is $894.40 per fortnight for singles and $1,348.40 per fortnight for couples.
In annualised terms, that equals $23,254.40 for singles and $35,058.40 for couples (or $17,529.20 for each member of the couple).
As the table below shows, those figures assume that pensioners are receiving the maximum basic rate, maximum pension supplement (to help with bills and medical costs) and energy supplement (to help with energy costs).
| Per fortnight | Single | Couple each | Couple combined | Couple apart due to ill health |
|---|---|---|---|---|
| Maximum basic rate | $814.00 | $613.60 | $1,227.20 | $814.00 |
| Maximum pension supplement | $66.30 | $50.00 | $100.00 | $66.30 |
| Energy supplement | $14.10 | $10.60 | $21.20 | $14.10 |
| Total | $894.40 | $674.20 | $1,348.40 | $894.40 |
Some Australian pensioners, who were getting part pensions on 19 September 2009, are on a ‘transitional rate’ rather than the standard rate (see table below).
This means they are getting paid at a different amount until they catch up with the current standard rate:
| Per fortnight | Single | Couple each | Couple combined | Couple apart due to ill health |
|---|---|---|---|---|
| Maximum rate | $738.30 | $596.40 | $1,192.80 | $738.30 |
| Energy supplement | $14.10 | $10.60 | $21.20 | $14.10 |
| Total | $752.40 | $607.00 | $1,214.00 | $752.40 |
Who can get the pension?
Australians are entitled to the age pension if they:
- have reached the pension age (at least 65 years 6 months)
- fall within the income test limits
- fall within the assets test limits
- meet the residency rules
For more information about the age pension, visit the Department of Human Services’ age pension page.
Disclaimer
This article is over two years old, last updated on January 29, 2018. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent superannuation articles.
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