Our regular reviews may increase your payment rate
3 July 2020
On 1 July 2020, our income and assets tests for Age Pension will increase.
The income and asset test limits are updated to reflect changes in the Consumer Price Index (CPI). These updates happen several times each year.
When the CPI rises, the income and asset limit amounts also rise. When this happens, you may see an increase to your regular payment amount. The amount you get depends on your individual circumstances.
You don’t need to do anything. When DSS update the income and asset test limits, your payment rate will also be updated.
Your age determines if we assess your superannuation in our income and assets tests.
The assets test exemption for some payments will end on 24 September 2020.
Page last updated: 3 July 2020
This information was printed 18 September 2020 from https://www.servicesaustralia.gov.au/individuals/news/our-regular-reviews-may-increase-your-payment-rate. It may not include all of the relevant information on this topic. Please consider any relevant site notices at https://www.servicesaustralia.gov.au/individuals/site-notices when using this material.