Age Pension income and assets test thresholds, 2026–27
From 20 September 2026 the full Age Pension is $1,237.70 a fortnight for a single person and $1,866.00 for a couple together. It starts to reduce once income passes $226 a fortnight ($396 for a couple), or assets other than the home pass $333,000 for a single homeowner ($499,000 for a homeowner couple), whichever test gives the lower pension.
The full rate
The most the Age Pension pays, a fortnight, from 20 September 2026. Rates are indexed each March and September.
| Part | Single | Couple, each | Couple, together |
|---|---|---|---|
| Basic rate | $1,135.40 | $855.90 | $1,711.80 |
| Pension supplement | $88.20 | $66.50 | $133.00 |
| Energy supplement | $14.10 | $10.60 | $21.20 |
| Total | $1,237.70 | $933.00 | $1,866.00 |
| A year (26 fortnights) | $32,180 | $24,258 | $48,516 |
The income test
Up to the income free area the full rate is paid. Above it, a single pension reduces by 50 cents for each dollar, and a couple’s by 25 cents each, on their income together. Figures a fortnight; a couple’s are combined.
| Income | Single | Couple, together |
|---|---|---|
| Full pension up to | $226 | $396 |
| No pension from | $2,701.40 | $4,128.00 |
The Work Bonus leaves the first $300 a fortnight of income from work out of the test, for each person of Age Pension age. Financial assets such as bank accounts, shares and super pensions are counted at a deemed income, not what they earn: 1.75% a year on the first $66,800 ($110,600 for a couple) and 3.75% on the rest.
The assets test
Assets are counted at their value, except the home you live in. Above the threshold the pension reduces by $3 a fortnight for each $1,000 (a couple’s by $3 together), until it stops at the cut-off.
| Household | Full pension up to | No pension from |
|---|---|---|
| Single, homeowner | $333,000 | $745,750 |
| Single, not a homeowner | $600,000 | $1,012,750 |
| Couple, homeowners | $499,000 | $1,121,000 |
| Couple, not homeowners | $766,000 | $1,388,000 |
The thresholds are indexed each July and the cut-offs move with the rates, so both change during the year. A couple’s figures are for the two of them together.
How the two tests combine
Both tests run, and the one that gives the lower pension applies. Age Pension age is 67. How each test works, deeming and how couples are assessed are explained in how the Age Pension income and assets tests work and deeming rates for the Age Pension. My Runway applies both tests every year of a plan from Age Pension age, as balances, income and these figures change.
General information only, not financial advice. It doesn’t consider your circumstances; check the figures with the source and speak to a licensed adviser before you act on them.