Prepare to transfer to Age Pension
If you get Parenting Payment and you’re Age Pension age, you can apply to transfer to Age Pension.
What you need to know
- want to transfer or not
- have superannuation.
If you don’t do this, we may stop your current payment once you turn Age Pension age.
We’ll send the invitation to your online account if you have one. If you don’t, we’ll post the invitation and form to you. We’ll fill in the online transfer or form with details we already know about you.
What the benefits are
If you transfer to Age Pension:
- you may get a higher rate of payment and more generous income and assets tests
- you'll get a Pensioner Concession Card, and a more generous income test if you have a partner
- you may get the Work Bonus
- we exempt more land from the assets test if you live on a single land title covering more than 2 hectares.
Keep in mind, some of these factors may change based on your individual circumstances.
What happens if you stay on Parenting Payment
If you stay on Parenting Payment, you may:
- get the Pensioner Education Supplement if you're single and study
- get the Education Entry Payment if you study
- have a more generous income test if you're single
- access participation support services
- get Child Care Subsidy
- get the Additional Child Care Subsidy
- get the higher rate of Mobility Allowance.
Once you reach Age Pension age, we'll automatically pay you the Pension Supplement. We'll pay this to you with your regular fortnightly payment of Parenting Payment. The supplement replaces the following allowances:
How to confirm your decision
You need to complete the online task or return the form we send you and confirm you want to either:
- transfer to Age Pension
- stay on Parenting Payment.
You also have to tell us about any superannuation you have.
Read more about applying to transfer to Age Pension.
Page last updated: 15 September 2020
This information was printed 27 November 2020 from https://www.servicesaustralia.gov.au/individuals/services/centrelink/parenting-payment/how-manage-your-payment/prepare-transfer-age-pension. 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.