20 September 2026 to 19 March 2027 Maximum rates
Age Pension Rates
The maximum Age Pension is $1,237.70 a fortnight for a single person and $933.00 each for a couple. What you actually receive depends on two separate tests — income and assets — and this page explains how each one reduces the payment.
Current rates
| Your situation | Maximum payment rate (a fortnight) | Living overseas / absent over 12 weeks |
|---|---|---|
| Single | $1,237.70 | $1,135.40 |
| Partnered (each) | $933.00 | $855.90 |
| Illness separated couple, respite care couple, or partner in prison (each) | $1,237.70 | $1,135.40 |
The maximum rate is the maximum basic rate plus pension supplement plus energy supplement. Rates are indexed twice a year, in March and September.
The two tests, and the lower one wins
Income test — 50 cents in the dollar
Your pension is reduced by 50 cents for every dollar of ordinary income above the income free area. Rent Assistance and some other payments are counted as income; so is deemed income from financial assets.
For a couple the joint income test halves your combined income and shares it between you, so each partner is exposed to a 25 cent taper — but the effect on the combined payment is the same.
Assets test — $3 per fortnight per $1,000
Every $1,000 of assets above the assets test free area reduces the asset tested rate by $3 per fortnight (single or couple combined).
The family home is generally not counted, but it changes which free area applies — the free area is lower for a homeowner than for a non-homeowner, because a non-homeowner has to pay rent out of the same savings.
The tests are both applied and you get the lower result. A common surprise: a couple with a modest income but a large share portfolio is reduced by the assets test, not the income test, and the assets test bites harder than people expect once the free area is passed.
What we cannot tell you, and why
The income free area and the assets free area are the two numbers that decide where the reductions start. They are indexed on 1 July every year — and they are published by Services Australia, not in the Social Security Guide that this page is sourced from.
Every other figure on this page comes from the Guide, which we can read directly. Those two we cannot verify from an official source we can access, so we have not quoted them. For the current free areas, check Services Australia directly — they also run their own calculator, which will give you a personalised result using your actual assets.
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 a fortnight each for a member of a couple. Those are the maximum rates — the income test and the assets test both reduce them.
How does the income test work?
Once your ordinary income goes over the income free area, your pension is reduced by 50 cents for every dollar above it. For a couple the joint income test halves your combined income and shares it between you, so each partner is exposed to a 25 cent taper — the effect on the combined payment is the same.
How does the assets test work?
Every $1,000 of assets above the assets test free area reduces the asset tested rate by $3 a fortnight, for a single person or a couple combined. This has applied since 1 January 2017.
Which test applies — income or assets?
Both are applied, and you get the lower of the two results. That is why a retiree with modest income but a large home and savings can still be reduced, and why the assets test is the one that catches most people with significant property.
What are the current income and assets free areas?
They are indexed on 1 July each year, and they are published by Services Australia rather than in the Social Security Guide this page is built from. Because they change every year and we cannot verify them from the government’s own legislation-guide source, we do not quote a figure here — check the current amounts on Services Australia, or use their calculator, before relying on a number.
What is the difference between the maximum rate and the reduced rate?
The maximum payment rate includes the pension supplement and the energy supplement, and applies if you live in Australia (or are temporarily absent for up to six weeks). The reduced figure applies if you live overseas or are absent for more than 12 weeks — it is the maximum basic rate only, without those supplements.
Does the pension change if my partner is in care or in prison?
Yes. An illness separated couple, a respite care couple, or someone whose partner is in prison is paid at the single rate — $1,237.70 a fortnight each rather than the partnered rate.
Related
- Rent Assistance calculator — what you get on top of the pension
- JobSeeker payment rates
- All Centrelink payment rates
Rates and test rules from the Department of Social Services — Social Security Guide (1.342 (21 September 2026)), checked 12 October 2026. General information only — not financial advice.