This calculator has been designed by yourpension.com.au to assist Age Pensioners in
determining their entitlement. It should only be used as a guide,
as there can be many complex issues. For the more complex claims please feel free to contact us direct.
The calculator has a design and layout that has been been optimised for mobile and touch devices. So save this page to your devices home screen for rapid access.
Enter your income and assets to estimate your age pension entitlement
yourpension.com.au is a service that assists you through the age pension claim process. Think of it as a concierge service.
Age Pension Calculator
Version 19.9 @ www.yourpension.com.au
Ver: 19.9 Sept 2019Providing powerful mobile friendly solutions to assist Age Pensioners
For further information regarding current Centrelink rates and thresholdsEligibility Income test Assets test
Internet Explorer continues to fall behind industry standards and demonstates incompatibility with the latest web tools. We recommend more modern browsers such as Chrome, Safari, Firefox etc.Disclaimer The calculator is a basic guide to estimate Centrelink age pension entitlement. Centrelink determines your actual payments. The results from using this calculator are only indicative and are not a guarantee of payments. The estimate will be based on the information you provide. If any information is incorrect, the calculator will also be incorrect. For a wide range of reasons the estimate generated by the calculator may not be accurate in particular cases, for example, the calculator does not take into account if you are repaying any money to Centrelink, or have had your payment reduced etc. You should never rely on an estimate as a basis to enter obligations or incur expenses. If you use or apply an estimate you are solely responsible for that use or application. Symbotic disclaims, to the extent permitted by law any representations and warranties, express or implied, of any kind in respect of the calculator, and; shall not be liable for any loss or damage whatsoever (including loss or damage caused by human, technical or processing error or malfunction, or negligence of any kind or loss or damage that is incidental or consequential) arising out of or in connection with any use of, or reliance on the calculator.
Updated Sept 2019
Use the +/- buttons to expand and collapse content. Use the above Font +/- button above to adjust font size.
After entering information, click 'out' or tab to update the calculator. Estmated payments are updated and shown below.
Using the calculator
If you have got this far you will have already read our statements on the limitations of calculators of this type. However we will continue to improve the calculator based on your comments and suggestions.
The format has specifically been designed to suit mobile devices - hence the 'collapsible" buttons (+/-) etc.
We have provided a separate button for determining the age qualification. The gradual increase in the age qualification and from 1/7/2017 both men and women will need to be 67 means that the qualifications are best represented in a table form. So please click the Age Qualification button to check your situation.
Assumptions and Basic Use:
1. For couples please include all your partners details with yours as they will both be assessed under the assets and income tests. There are some exceptions such as if your partner is under the age pension age, then their super will be exempt. Also if your partner is under the age pension age then they will generally not be entitled to the work bonus scheme entitlements.
2. Please be careful in entering your super and pension details. If your super is in 'pension' mode then the income and assets test will be different to those funds that are not. Your super fund will be able to provide you with a report detailing how much of the income from your supers pension will be deductible. Not all income is assessable under Centrelinks income test and this area can get very complex.
From July 2017
Depending on your birthdate, from July 1 2017 Age Pension age will be 65 years and 6 months.
After that, Age Pension age will go up 6 months every 2 years until 1 July 2023.
|Date of birth||Qualifying age at|
|1 July 1952 to 31 December 1953||65 years and 6 months|
|1 January 1954 to 30 June 1955||66 years|
|1 July 1955 to 31 December 1956||66 years and 6 months|
|From 1 January 1957||67 years|
Income and Asset Values for Couples
If you selected "Couple" please ensure you enter the combined value for you and your partner for each item. i.e If you have several bank accounts, add the value of each and insert the total. This is required where both partners are qualified for the age pension. However if, for example, one partner is under the age pension age then they may not be entitled to the work bonus scheme but their super asset value may be exempt. Refer to the notes on each section if this is the case.
Couples versus Singles:
If you are in a relationship - including single sex relationships - select Couple.
In recent years this has become a more complex situation for example:
You may be considered a couple even if you don’t live together.
Equally you can be treated as a single if you live with someone.
In all cases it may be a same sex relationship. However there are some situations where a same sex relationship can be considered as single!
If a couple is ‘separated due to illness’, not only can one partner be treated as a single, but the income test level threshold increases.
If you own - or are paying off your home - your home is normally exempt from the assets tests. In some cases Centrelink may determine that a proportion of your home/land is 'of commercial value'. For example if it is a large property and a proportion is for commercial use. If you believe this may be the case for your home, please seek advice before claiming for the age pension.
If you do not own a home, your asset test thresholds are higher, and you may be entitled to rent assistance, or other accommodation assistance. The rest assistance that you may be entitled to is not covered in this calculator For more information on granny flats, selling your home etc. see the FAQ's section
Note: Provide the estimated market value of the asset less any amounts you owe against that asset. Amounts should be given in whole dollars (do not include cents, decimal points, spaces or commas)
Employment Income / Wages:
Wages - Partner
Investment Property Nett Income:
This is automatically calculated from values entered above (including deemed income) and is a net value - i.e. includes work bonus benefits credits etc..
The estimated age pension will automatically change based on the above supplied data. Note: This amount includes the Pension and Clean Energy Supplements
This section show what would happen to the pension if you had additional $10,000 in income, and also what would happen if you had an additional $50,000 in assets. This is to be compared to the amount shown above.
Using the Pension Calculator
The amount displayed is a per fortnight amount for each pensioner
If you have assets or income over the minimum levels the calculator will adjust the entitlement. In these cases the calculator will display if it is an Asset or Income based pension.
That is, Centrelink will apply the asset test, and the income test, and determine which will provide the least payment!
For example, if you are on an Income based pension - i.e. your income levels are above the minimum - changing your assets may not provide any increase to your entitlements; and visa a versa.
Play with the calculator to see what those thresholds are for your pension
The What If section
This section provides a very basic picture of how new increased income and assets levels will impact on your pension. Each are treated independently.
The new income level is total - including deemed income, net of any work bonus entitlement etc.
The new asset level is for non-deemed assets. The impact of deemed assets are considered in the new income levels.
If you require a more detailed impact statement, modify the calculator entries.
- The calculator is designed for ease of use and therefore does not cater for all scenarios
- The estimated rate can only be treated as indicative