Age Pension Calculator
See roughly how much Age Pension you could get each fortnight on the rates that started on 20 September 2026. It runs the income test and the assets test side by side and shows you which one sets your payment.
| Per year | $0 |
| Income test rate | $0.00 |
| Assets test rate | $0.00 |
| Test setting your rate | |
| Deemed income | $0.00 |
| Assessable assets | $0 |
How the Age Pension Calculator Works
From 20 September 2026 the full Age Pension is $1,237.70 a fortnight for a single person and $933.00 each for a couple, or $1,866.00 combined. Those amounts include the Pension Supplement and Energy Supplement. Whether you get all of it depends on two tests. Services Australia works out your rate under an income test and an assets test, then pays whichever gives the lower amount.
Two tests, and the lower one sets your rate
The income test starts with your income each fortnight. Up to $226 for a single person, or $396 combined for a couple, doesn't change your pension. Above that, a single person loses 50 cents for every extra dollar, and each member of a couple loses 25 cents for every extra dollar of your combined income.
The assets test adds up what you own, apart from your home. Up to the full-pension limit, nothing changes. Above it, your pension drops by $3 a fortnight for every $1,000 of extra assets. For a couple that's $3 combined, or $1.50 each.
The calculator runs both and shows you each result. The smaller number is your estimate, and the line underneath tells you which test produced it, so you can see which part of your finances is moving your payment.
Deeming: the income your savings are assumed to earn
Centrelink doesn't use the interest you actually earn on savings and shares. It assumes a rate, called deeming. From 20 September 2026 the first $66,800 of a single person's financial assets is deemed to earn 1.75% a year, and anything above that 3.75%. For a couple where at least one of you gets a pension, the threshold is $110,600 combined. Before 20 September the rates were 1.25% and 3.25%, so the same savings now count as more income.
If your money earns more than the deemed rate, the extra isn't counted. If it earns less, you're still assessed at the deemed rate.
The Work Bonus
If you still do some paid work, the Work Bonus means the first $300 of employment income each fortnight isn't counted under the income test. Unused amounts build up in a balance of up to $11,800, which can cover a bigger pay week later. The calculator takes $300 a fortnight off your work income and your partner's. It doesn't model a built-up balance.
Worked example: a single homeowner with $250,000 in savings
Take a single homeowner aged 68 with $250,000 across a term deposit, a bank account and super. Their car and contents are worth $15,000, and they don't work.
- Deemed income: $66,800 at 1.75% is $1,169, and $183,200 at 3.75% is $6,870. That's $8,039 a year, or $309.19 a fortnight.
- Income test: $309.19 is $83.19 over the $226 free area. Half of that, $41.60, comes off $1,237.70, leaving $1,196.10.
- Assets test: $265,000 is under the $333,000 limit, so the assets test would pay the full $1,237.70.
- Result: the income test gives the lower figure, so the estimate is $1,196.10 a fortnight, about $31,099 a year.
Here deeming sets the rate. Because the home is exempt, $20,000 spent on repairs to it would lower their deemed income and lift the estimate to $1,210.53 a fortnight.
When the assets test takes over
Now make it $500,000 in financial assets and $20,000 of other assets, still single and a homeowner. The income test would pay $1,015.82 a fortnight. The assets test pays less: $520,000 is $187,000 over the limit, and $187,000 ÷ $1,000 × $3 is $561, leaving $676.70. The assets test sets the rate, so the estimate is $676.70 a fortnight, about $17,594 a year. At this level each $1,000 of assets is worth $3 a fortnight of pension, or $78 a year.
Age Pension limits from 20 September 2026
| Limit | Single | Couple, combined |
|---|---|---|
| Maximum rate per fortnight | $1,237.70 | $1,866.00 ($933.00 each) |
| Income free area per fortnight | $226 | $396 |
| Income cut-off per fortnight | $2,701.40 | $4,128.00 |
| Full pension assets limit, homeowner | $333,000 | $499,000 |
| Full pension assets limit, non-homeowner | $600,000 | $766,000 |
| Part pension stops, homeowner | $745,750 | $1,121,000 |
| Part pension stops, non-homeowner | $1,012,750 | $1,388,000 |
| Deeming threshold | $66,800 | $110,600 |
What counts as an asset
Counted: bank accounts, term deposits, shares, managed funds, super once you're over Age Pension age, account-based pensions, investment property, cars, caravans, boats, and home contents at what they'd sell for. Any loan secured against an asset comes off its value.
Not counted: your home and up to two hectares of land on the same title, prepaid funeral costs and cemetery plots. Assets you've given away or sold for less than they're worth in the last five years can still count.
What this calculator leaves out
It's an estimate under the standard rules for people who've reached Age Pension age, which is 67, and who meet the residence rules. It doesn't include Rent Assistance, the transitional rate some people have kept since 2009, a partner on a different payment, a built-up Work Bonus balance, or income streams with special rules. Use it to see where you stand and which test matters. Services Australia's own assessment decides what's paid.
Sources
- Services Australia, How much Age Pension you can get (rates from 20 September 2026)
- Services Australia, Income test for Age Pension (updated 20 September 2026)
- Services Australia, Assets test for Age Pension
- Services Australia, Deeming
- Services Australia, Deeming rates have increased (20 September 2026)
- Federal Register of Legislation, Social Security (Deeming Threshold Rates) Determination (No. 2) 2026
- Department of Social Services, Social Security Guide 4.2.3, assets test taper
- Services Australia, How the Work Bonus works
- Services Australia, Who can get Age Pension
- DVA, Summary of pension rates, limits and allowances (cross-check, 20 Sep to 31 Dec 2026)