Age Pension Calculator Australia 2026

How the Age Pension is worked out

Services Australia runs two tests, an income test and an assets test, and pays whichever gives the lower pension. The two reductions are never added together. Most retirees with a paid-off home and modest savings are limited by the income test, while people with larger super balances or an investment property are usually limited by the assets test. The calculator shows which test set your estimate.

Income test and the Work Bonus

Income up to $226 a fortnight for a single person, or $396 combined for a couple, is ignored. Above that, a single person loses 50 cents of pension for every dollar and each member of a couple loses 25 cents. The Work Bonus disregards the first $300 a fortnight of employment income before the test is applied, and unused Work Bonus banks up to a limit for later use. The pension stops once income reaches $2,701.40 a fortnight for a single person or $4,128.00 for a couple.

Deeming replaces your real investment return

Interest, dividends and super pension drawdowns are not counted directly. Instead Centrelink assumes your financial assets earn 1.75% on the first $66,800 (single) or $110,600 (couple) and 3.75% on the rest, and counts that deemed amount as fortnightly income. If your investments earn more, the extra is not assessed. If they earn less, you are still deemed at the set rate. Deeming rates are set by the Minister and can change on 20 September along with the pension rate.

Assets test limits

A full pension is payable while assets are under $333,000 for a single homeowner, $600,000 for a single non-homeowner, $499,000 for a homeowner couple and $766,000 for a non-homeowner couple. Each $1,000 over the limit cuts $3 a fortnight from a single pension or $1.50 from each partner's pension. The home you live in is exempt regardless of value, which is why the non-homeowner limits are higher.

Why your pension status sets your aged care fees

The same means information decides what you contribute to Support at Home and to residential aged care. A full pensioner pays nothing for clinical care at home, 5 percent of independence services and 17.5 percent of everyday living services. Part pensioners sit on a sliding scale, and self-funded retirees pay up to 50 percent and 80 percent respectively. In residential care a full pensioner with assets under the minimum permissible level pays only the basic daily fee. Knowing where you sit is the first step in comparing home care against a nursing home.

Carevo connects you with providers

Carevo is a connection platform. We do not pay pensions, run assessments or deliver care. If the result above points toward Support at Home, we connect you with providers in your area that have capacity now, so you can compare their prices for the same classification budget before signing a service agreement.