Age Pension Calculator

Centrelink Age Pension Calculator

Welcome. This calculator has been designed by 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. is a service that assists you through the age pension claim process. Think of it as a concierge service.


Age Pension Calculator
Version 18.9 @

Ver: 18.9 Sept 2018

Providing powerful mobile friendly solutions to assist Age Pensioners

This pension calculator can only be an indicator and is correct at the time it was created, and is continually monitored for accuracy.
The current version applies to the Centrelink Age Pension as at Sept 20 2018.

The calculator's first priority is ease of use. Therefore, there are some scenarios which can not be accommodated in such as calculator. For the more complex of cases please feel free to contact us at (to avoid spam we do not automatically link our email)

This calculator can be used to estimate your possible payment rates for a Centrelink payment. It does not work out whether you are eligible for a payment.

For further information regarding current Centrelink rates and thresholds

Eligibility Income test Assets test
Major changes to the way income streams are treated were introduced on 1 January 2015. For more information on these changes please refer to our blog. This calculator is designed for new applicants, hence the new deeming rules are used.

The pension rate is for new applicants only. Those who were approved for the pension prior to 20th September 2009 may be on a 'transitional' rate. This rate may be higher than the rate displayed here due to the tightening of the income test rules and other Government initiatives. Approximately 30% of pensioners were entitled to maintain their exiting rates so as not to be disadvantaged.

Age Pension rates usually change each September and March, and pension thresholds change each July.

If you have any questions or difficulty using the calculator for any reason please contact us.

Your financial advisor should always be consulted when making financial decisions.

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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.

Age Pension Calculator

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Updated Sept 20 2018

Before you go ahead, please confirm that you have read and understood the limitations of this calculator. Also please contact us should you require assistance or provide suggestions on how we can enhance this calculator.
We have attempted to provide an easy to use calculator for the majority of cases. In doing so the calculator may not adequately accommodate the more complex scenarios. Again please refer to our About page for more details.
NOTE: As of 1/7/17 age entitlements have changed. Please refer to the Age Entitlement section of the Assumptions and General Use section.
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Assumptions and General Use

    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.


    There are 5 collapsible sections below that can be expanded/collapsed to define your circumstances.
    The estimated pension will automatically be adjusted as you make these alterations. Click the the query/info buttons provided in each section to access further information.
    The default amount will be the maximum ‘couple’ rate paid to each eligible member of the relationship.

    Entering Data

    All income should be entered as annual income, in whole dollars.

    Couples with only one eligible

    Where an applicant is part of a relationship - e.g. married - and one partner is 'under' the age pension age, or ineligible for an age pension, Centrelink will treat the application as couple based and pay only the eligible age pensioner the couple rate.

    Couples - entering income and asset amounts

    All income and assets are to be entered as combined amounts – even if only one partner is eligible.
    Except- Exceptions may include for wages and super, so please note the conditions in those sections. For example, super balances for a partner who is age ineligible is exempt from the assets test. Also the Work Bonus Scheme is based on each partner’s individual wage. Hence the wage amount for each ‘partner’ require separate entries.

General Assumptions and Use

    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.

Age Qualifications

    Age Qualifications:

    We have frequent queries regrading the qualifying age for the Age Pension. We have also found that the information is best provided in the form below, rather than entering birth dates via calendar 'boxes' etc.

    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 195365 years and 6 months
    1 January 1954 to 30 June 195566 years
    1 July 1955 to 31 December 195666 years and 6 months
    From 1 January 195767 years
July 1 2018 Changes - Centrelink Summary General Claim Guide Eligibility Income test Assets test

Marital and Home Status


Marital Status and Home Ownership

    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.

    Home Ownership:

    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


Assets - not deemed by Centrelink

Home Contents:


Fire sale value only - usually between $5-10k. Include collections - art, books etc.


Non Deemed Assets

    Non-deemed Assets:

    These are assets that Centrelink believe you do not receive an annual increase in value. For example, cars usually fall in value.

    CARS: - You can use the 'red book' value or use one of the internet sites to show Centrelink similar values.
    This can be found in the Red Book at

    BOATS/BIKES etc:- market value - as per cars.

    HOME CONTENTS:- this should be the fire sale value of the home contents, and usually falls less than $10,000 and more typically around $5,000.

    COLLECTIONS: - the value you would get should you choose to sell 'today'. Include value of these in your home contents.

    Assets such as the following are treated as Deemed Assets so please provide details in the next section.

    INVESTMENT PROPERTY:- this should be the market value of the property less any mortgage. If you do not have a market value use your rates notice value. If you received any income from this property, complete the income section with the annual amount, less costs - e.g. mortgage, management fees etc.

    ALLOCATED PENSIONS: - The asset value of these Income Streams is counted in the Asset Test, therefore only include the asset value of the pension.
    Also include in this amount any
    'ORDINARY ANNUITY' - The asset value of these Income Streams is counted in the Asset Test
    'COMPLYING ANNUITY' - Only include the value counted (50% or 0), not the full value.
    'TAP PENSION' - Only include the value counted, not the full value.
    'BONDS in F/T' - The asset value of the Bond.


Cars & Caravans:

Red book value for all cars, trucks etc.

Motorbikes and boats:

Investment property:

Not your residence/home. This is your investment property, holiday house etc. Only the nett value (nett of the mortgage etc.) needs be entered here.

Super Pensions - pre Jan 2015:

Super Pensions / Allocated Income Streams etc. started before 1/1/2015 will continue to be treated as a non-deemed asset. This 'grandfathering' does not apply to those applying beyond 1/1/2015. The income drawn - less the deductable amount - must be entered via the Income section. Post 2015 super pensions are assessed as a deemed asset. Therefore, for these post 2015 pension accounts the balance is entered via the Invesments - deemed by Centrelink section. An overview publication covering the 2015 change was published by the Dept. and access provided by the link.

TOTAL non-deemed assets:

This is automatically calculated from values entered above.

Investments - deemed by Centrelink

Bank Accounts

Info The total current balance of all funds held in bank accounts - such as cheque or savings accounts, term deposits or cash management accounts, including those held in a Credit Union or Building Society; exclude credit cards.


Deemed Assets

    Deemed Assets:

    These are assets that Centrelink believe you receive benefit - increase in value.

    Rather than looking at each asset and determining the actual rate of return for all assets classes, ' Centrelink will only apply an published 'average'.

    That is, you may be achieving a higher rate on your term deposits, but Centrelink will only use their deeming rate. Equally your standard saving account may be returning a lesser rate etc.

    Your 'deeming' assets will have this standard rate of return applied to each. The calculator will display the total deemed income associated with these assets.

    Some of these assets are periodically and automatically updated by Centrelink. If you feel that the assets - e.g. Shares - have fallen in value then provide Centrelink with revaluations as frequently as appropriate. The same for investment properties etc. should the valuation change, mortgage change etc.

    SUPER: - only include the asset value of the super. NOTE if your partner is under the age pension age do not include his/her amount in this asset value. The logic goes something like (being very lose with the ruling) "they can not get access to the money, therefore it is not an asset"

    MARGIN LOANS: -If - for example - shares have a margin loan against them, then the total share value will be used for deeming purposes, but only the net share value will be used for the assets test. Do not include the loan for an investment property as the net value of the investment property has been entered as a non-deemed asset.

    OTHER LOANS: - make sure you include any money owed to you - from family and friends, your own company etc.


Listed Investments:

Current value of all shares held - refer notes.

Margin Loans:

Margin loan amount for listed investments - refer notes - this will reduce your assets but not the deemed income.The margin loan entered can not be greater than the listed investments amount.

Allocated Pensions and Annuities:

The asset value for these will be assessed under the assets test. From 1 January 2015 the asset value will now be deemed. For Complying Annuities, only include the 'value counted' not the full value. For TAP schemes, only include the value counted, not the full value. Income from these products will be entered under the income section and assessed under the income test..

Super Funds:

Asset value (balance) of super funds - refer notes


Any money, or assets, that have been lent and or outstanding. If there is no chance of being repaid you may request that Centrelink ‘write them off’.


Any other asset that may earn interest. This may include 'deprived' assets, collections, other overseas investments etc.

TOTAL deemed assets:

This is automatically calculated from values entered above.


Employment Income / Wages:

Info Gross ANNUAL wages




    All income should be shown on a gross annual basis. Salary sacrificing etc. is ignored for the income test.

    WAGES: - Centrelink provide a Work Bonus Scheme for on the age pension. For example, the first $6,500 of wages will be exempt from the income test. The calculator will automatically calculate this Work Bonus Benefit entitlement.

    SELF EMPLOYMENT: - NOTE: Centrelink do not provide the Work Bonus Scheme allowance for self-employment! Please record self-employment income in the OTHER INCOME cateegory. We assume Centrelink believe self employment provides additional benefits over 'wages'.

    INVESTMENT PROPERTY: - please record the nett income - that is, the gross rental income, less costs etc.

    PENSION INCOME: - Enter only the nett benefit from an income stream. That is, an income stream may have a 'deductible amount'. In this case deduct his amount from the total income received for the year. Please enter the annual AUD amount for overseas pensions.


Wages - Partner

If applicable - Gross ANNUAL wages for partner. For the work bonus scheme benefits it will be assumed your partner - if applicable - is also of age pension qualified.

Pension/Income Streams:

Income derived from any non-Centrelink pension.

Investment Property Nett Income:

Any nett income obtained from investment property.

Other Income:

Any other income source - e.g.compensation income, direct deduction income, other Government payment income

TOTAL 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..


This section allows for more 'non typical' situations:

Proceeds from the sale of a home

The asset value of the proceeds from the sale of the family home may be exempt from the assets test for 12 months, in some cases 24 months. This allows time to buy, or build, a new home. However, the net sale proceeds are deemed. The deemed income will be included in the Total Income of the Income calculator.

Estimated Age Pension ($/pf) - estimated as at Sept 20 2018 updates

The estimated age pension will automatically change based on the above supplied data. Note: This amount includes the Pension and Clean Energy Supplements

PrintPrint - a summary of entries and estimated pension

What if?

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.


About your Pension

      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.