Centrelink Age Pension: Eligibility and Entitlements Explained

As we navigate the later stages of our lives, it’s essential to have a comprehensive understanding of the financial support available to us. In Australia, the Centrelink Age Pension serves as a vital safety net for individuals over the age of 65, providing much-needed financial assistance to help meet their daily expenses. With approximately 62% of older Australians relying on this government pension, it becomes crucial to grasp the eligibility criteria and factors that determine entitlements.

Happy older couple. Centrelink Age Pension: Eligibility and Entitlements Explained UGC
Centrelink Age Pension: Eligibility and Entitlements Explained

Eligibility to receive any entitlement is based on 4 factors:

  1. Age
  2. Residency
  3. Assets
  4. Income


Before you can receive any Age Pension entitlements you need to reach your qualifying age. This is set by the government and determines the earliest age anyone can receive a benefit. The qualifying age is based on the year you were born, so someone born on or after 1 January 1957 will need to reach age 67 before they are entitled to receive a benefit.


Generally speaking you need to be an Australian resident who has lived in Australia for at least 10 years (at least 5 of those years consecutively) to be eligible. There may be some exceptions for this does rule not to apply (i.e. if you are a refugee or dual national).


The value of your assessable assets have to be under a certain limit (depending on your relationship status and living arrangements) for you to be eligible. Examples of the assets included are a car or other vehicles, cash in the bank, shares and superannuation. Your family home is currently exempt from this test.


Any income you earn is a factor in determining how much Age Pension you are entitled to. Centrelink will allow a small amount of income before any entitlements are adjusted and they will look at all sources of income to determine your entitlement such as any wages, interest payments, dividends and superannuation payments.

If you are interested in discussing your retirement planning please contact us today.

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