About the Australia Age Pension Calculator
This Age Pension calculator estimates how much Age Pension you could receive from Services Australia (Centrelink) each fortnight. It applies both means tests — the income test and the assets test — and pays the lower of the two results, exactly as Centrelink does. Financial assets such as bank accounts, shares and account-based super in pension phase are converted to income using the deeming rates, and the Work Bonus shelters up to $300 a fortnight of employment income for each pensioner.
It is meant for Australians at or approaching Age Pension age (67), couples deciding how to structure assets, and anyone weighing up home renovations, gifts or super withdrawals that change their assessable assets. The chart shows how your pension falls as assets rise.
Figures are those in effect from 20 September 2026: a maximum of $1,237.70 a fortnight for a single person and $1,866.00 combined for a couple (including Pension and Energy Supplements), income free areas of $226 (single) and $396 (couple), assets limits from $333,000 for a single homeowner, and deeming at 1.75% on the first $66,800 ($110,600 for couples) and 3.75% above. Your home is not counted. Rent Assistance, transitional rates and the minimum pension supplement are not modelled.
With the default inputs, the estimated age pension per fortnight is $1,036.70. Change any value above to recalculate instantly.
How to use the australia age pension calculator
- 1Choose single or couple and whether you own your home.
- 2Enter all assessable assets except your home (combined for couples).
- 3Enter how much of that is financial assets subject to deeming.
- 4Add employment income and any other income per fortnight.
- 5Read the estimated pension and which test sets your rate.
Formula and method
Centrelink works out your rate under both tests and pays the lower. Under the income test, financial assets are deemed to earn 1.75% on the first $66,800 ($110,600 for couples) and 3.75% above that; deemed income plus other income and employment income above the Work Bonus is compared with the free area ($226 a fortnight single, $396 combined for couples). Each dollar over reduces the pension by 50 cents (25 cents each for a couple).
Under the assets test, every $1,000 of assessable assets above the limit for your situation ($333,000 for a single homeowner, $499,000 for a homeowner couple, $267,000 more if you do not own a home) reduces the pension by $3 a fortnight ($1.50 each for couples). Your principal home is exempt.
- max
- Maximum fortnightly rate incl. supplements ($1,237.70 single, $1,866.00 couple)
- free area
- Income allowed before the pension reduces
- limit
- Assets allowed before the pension reduces
Worked examples
Single homeowner with $400,000 of assets
Deemed income is ($66,800 × 1.75% + $233,200 × 3.75%) ÷ 26 = $381.31, so the income test gives $1,237.70 − 50% × $155.31 = $1,160.05. Assets of $67,000 over the $333,000 limit cut $201, giving $1,036.70 under the assets test — the lower figure applies.
Homeowner couple with $250,000 and part-time work
Deemed income is ($110,600 × 1.75% + $89,400 × 3.75%) ÷ 26 = $203.38. With $300 of the $600 wages sheltered by the Work Bonus, assessed income is $503.38 — $107.38 over the $396 free area — reducing the combined pension by $53.69 to $1,812.31.
Single renter with $150,000
Deemed income of ($66,800 × 1.75% + $73,200 × 3.75%) ÷ 26 = $150.54 is under the $226 free area, and assets are below the $600,000 non-homeowner limit, so the full $1,237.70 a fortnight is paid.
Frequently asked questions
How much is the Age Pension from 20 September 2026?+
The maximum is $1,237.70 a fortnight for a single person and $933.00 each ($1,866.00 combined) for a couple, including the Pension Supplement and Energy Supplement. Rates are indexed every March and September.
What are the Age Pension assets test limits?+
For a full pension from 20 September 2026: $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. Part pensions stop at $745,750 for a single homeowner and $1,121,000 for a homeowner couple.
How does the income test work?+
A single person can have $226 a fortnight of assessed income ($396 combined for couples) before the pension reduces. Above that, it falls by 50 cents per dollar for singles and 25 cents per dollar each for couples.
What are the current deeming rates?+
Financial assets are deemed to earn 1.75% a year on the first $66,800 for singles ($110,600 combined for pensioner couples) and 3.75% on amounts above that, regardless of what they actually earn.
Is my home counted in the assets test?+
No. Your principal home is exempt, but non-homeowners get a higher assets limit — $267,000 more — to compensate. Other real estate, cars, caravans, contents and super in pension phase all count.
What is the Work Bonus?+
The Work Bonus reduces the employment income counted under the income test by up to $300 a fortnight per pensioner. Unused amounts accrue to a balance of up to $11,800 that can offset future employment income.
Results are estimates for educational purposes and are not financial advice. Rates, fees and terms vary — confirm with your lender or a licensed advisor before making decisions.