In 2025, the Australian Government continues to support seniors through the Centrelink Age Pension, providing essential financial assistance to help manage living expenses during retirement.
Understanding the eligibility criteria, application process, and payment details is crucial for retirees to maximize their entitlements.
Eligibility Criteria for Age Pension
To qualify for the Age Pension in 2025, applicants must meet specific requirements:
- Age Requirement: Applicants must be at least 67 years old.
- Residency Requirement: Applicants must be Australian residents and have lived in Australia for at least 10 years, with at least 5 of those years being continuous.
- Income and Assets Test: Applicants’ income and assets are assessed to determine eligibility and payment rates.
Income Test
The income test evaluates earnings from various sources, including employment, pensions, superannuation, and investments. To receive the full Age Pension, income must be below specific thresholds:
- Single: Up to $212 per fortnight.
- Couple (combined): Up to $372 per fortnight.
For income exceeding these amounts, the pension reduces by 50 cents for every dollar earned.
Assets Test
The assets test considers the value of possessions, excluding the primary residence. Asset thresholds for full pension eligibility are:
- Single Homeowner: Up to $314,000.
- Single Non-Homeowner: Up to $566,000.
- Couple Homeowners (combined): Up to $470,000.
- Couple Non-Homeowners (combined): Up to $722,000.
Assets exceeding these limits may reduce the pension amount.
Payment Rates as of September 2024
The maximum fortnightly Age Pension rates are:
- Single: $1,144.40.
- Couple (each): $862.60.
- Couple (combined): $1,725.20.
These rates include the basic pension, Pension Supplement, and Energy Supplement.
Application Process
Eligible seniors can apply for the Age Pension through the following methods:
Online Application:
- Create a myGov Account: Visit myGov and set up an account.
- Link Centrelink: Once logged in, link your Centrelink account to access services online.
- Prepare Required Documents: Gather proof of identity, residency details, income, and asset statements.
- Submit an Online Claim: Log in to myGov, navigate to Centrelink, and complete the Age Pension claim form.
In-Person Application:
- Visit a Centrelink Service Centre: Bring all necessary documents and complete the application process with the assistance of Centrelink staff.
Payment Schedule
Age Pension payments are made fortnightly. Specific payment dates may vary based on individual circumstances and public holidays.
For the most accurate and up-to-date information on payment dates, refer to the Services Australia website.
Recent Updates
In March 2025, the Australian Government is expected to adjust Age Pension payments to align with inflation, helping seniors manage rising living costs. These adjustments are part of the regular biannual review conducted in March and September.
Summary Table
| Aspect | Details |
|---|---|
| Eligibility Criteria | – Age: 67 years or older – Residency: Australian resident for at least 10 years, with at least 5 years continuous – Income and Assets Test: Must meet specified limits |
| Payment Amounts | – Single: Up to $1,144.40 per fortnight – Couple (each): Up to $862.60 per fortnight |
| Application Process | – Online: Through myGov – In Person: At a Centrelink service centre |
| Payment Schedule | – Fortnightly payments – Specific dates may vary; check the Services Australia website for details |
| Recent Updates | – March 2025: Expected adjustment in Age Pension payments to align with inflation |
FAQs
What is the age requirement for the Age Pension in 2025?
Applicants must be at least 67 years old.
How long must I have lived in Australia to meet the residency requirement?
You must have been an Australian resident for at least 10 years, with at least 5 of those years being continuous.
What are the income thresholds for receiving the full Age Pension?
- Single: Up to $212 per fortnight.
- Couple (combined): Up to $372 per fortnight.