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Sep 14 2017

Aged Pension Rates in Australia 2017

Australian Aged Pension Rates 2017

An Australian Citizen or Permanent Resident may be eligible for the Welfare Based Aged Pension if:

  • They are at least 65 years and 6 months old (New rules from 1st July 2017)
  • under the income and assets test limits
  • an Australian resident, normally for at least 10 years

When are you eligible for the Australian Aged Pension?

  • If your birthdate is before 1 July 1952 you’ll be old enough at 65 years
  • If your birthdate is 1 July 1952 to 31 December 1953 you’ll be old enough at 65 years and 6 months
  • If your birthdate is 1 January 1954 to 30 June 1955 you’ll be old enough at 66 years
  • If your birthdate is 1 July 1955 to 31 December 1956 you’ll be old enough at 66 years and 6 months
  • If your birthdate is on or after 1 January 1957 you’ll be old enough at 67 years

The Department of Human Services has announced the September 2017 increase in the Age Pension, taking the payment to $894.40 for singles and $674.20 for each person in a couple, including supplements. This increase takes effect on 20th September 2017. Increases are normally made twice a year, on March 20 and September 20.

The Australian Aged Pension was increased in March 2017, and the new FORTNIGHTLY rates are now:

Australian SINGLE PERSON, Fortnightly Pension

$808.30 Base Pension

$  65.90 Supplement

$  14.10 Clean Energy Supplement

$888.30 Total  ($894.40 from 20 Sept 2017)

Australian COUPLE, Fortnightly Pension per person

$609.30 Base Pension

$  49.70 Supplement

$  10.60 Clean Energy Supplement

$669.60 Total ($674.20 from 20 Sept 2017)

A Couple separated due to ill health will each receive the Single Person rate.

Australian Aged Pension Income Test

A single pensioner can have other Fortnightly income of up to $168 before the aged pension is reduced.
A couple combined can have other Fortnightly income of up to $300 before the aged pension is reduced.
The reduction is based on 50 cents for each dollar ‘other income’ over the income threshold.

Source: www.humanservices.gov.au/…/income-test-pensions

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