Assets test

The assets test helps us work out if you can get paid Age Pension. It also affects how much you'll get.

We assess all asset types as part of the assets test. How much we can pay you depends on the value of your assets, your homeownership status and if you’re in a relationship. There are limits to how much you can have to get Age Pension. We call these the assets test limits. The Department of Social Services reviews these limits and cut off points in March, July and September each year.

Your assets include any property or possessions you own in full, in part, or have an interest in. This includes both:

  • assets held outside Australia
  • debts owed to you.

What the limits are for a full pension

When your assets are more than the limit for your situation, your pension will reduce.

If you’re a member of a couple, the limit is for both your and your partner’s assets combined, not each of you.

Your situationHomeownerNon-homeowner
Single$301,750$543,750
A couple, combined$451,500$693,500
A couple, separated due to illness, combined$451,500$693,500
A couple, one partner eligible, combined$451,500$693,500

What the limits are for a part pension

From 20 March 2024, part pensions cancel when your assets are over the cut off point for your situation.

If you’re a member of a couple, the limit is for both your and your partner’s assets combined, not each of you.

Your situationHomeownerNon-homeowner
Single$674,000$916,000
A couple, combined$1,012,500$1,254,500
A couple, separated due to illness, combined$1,196,000$1,438,000
A couple, one partner eligible, combined$1,012,500$1,254.500

If you get Rent Assistance with your pension, your cut off point is higher. You can find the rates by checking the Payment and Service Finder.

What the limits are for a transitional rate of pension

From 20 March 2024, transitional rate pensions cancel when your assets are over your cut off point.

If you’re a member of a couple, the limit is for both your and your partner’s assets combined, not each of you.

Your situationHomeownerNon-homeowner
Single$609,500$851,500
A couple, combined$948,000$1,190,000
A couple, separated due to illness, combined$1,067,000$1,309.000
A couple, one partner eligible, combined$948,000$1,190,000

If you get Rent Assistance with your pension, your cut off point is higher.

Where to find other help

You can apply for Asset Hardship provisions if you’re in severe financial hardship and your assets mean you either:

  • don’t get Age Pension
  • get a small amount of Age Pension.

Alternatively you may get help under the Home Equity Access Scheme.

Page last updated: 20 March 2024.
QC 65071