Assets test for pensions

The assets test helps us work out if you can get paid Age Pension, Carer Payment or Disability Support 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 and if you’re in a relationship. There are limits to how much you can have. We call these the assets test limits. The Department of Social Services reviews these limits and cut off points in January, 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:

  • assets held outside Australia
  • debts owed to you.

If you get 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 you and your partner’s assets combined, not each of you.

Your situation Homeowner Non-homeowner
Single $270,500 $487,000
A couple, combined $405,000 $621,500
A couple, separated due to illness, combined $405,000 $621,500
A couple, one partner eligible, combined $405,000 $621,500

If you get a part pension

From 1 July 2021, 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 you and your partner’s assets combined, not each of you.

Your situation Homeowner Non-homeowner
Single $593,000 $809,500
A couple, combined $891,500 $1,108,000
A couple, separated due to illness, combined $1,050,000 $1,266,500
A couple, one partner eligible, combined $891,500 $1,108,000

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

If you get a transitional rate of pension

From 1 July 2021, 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 you and your partner’s assets combined, not each of you.

Your situation Homeowner Non-homeowner
Single $539,750 $756,250
A couple, combined $839,500 $1,056,000
A couple, separated due to illness, combined $943,500 $1,160,000
A couple, one partner eligible, combined $839,500 $1,056,000

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.

If you get Disability Support Pension and are younger than 21 with no children

From 1 July 2020, Disability Support Pension cancels 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 you and your partner’s assets combined, not each of you.

Your situation Homeowner Non-homeowner
16 to 17 years, single dependent $419,750 $636,250
18 to 20 years, single dependent $437,000 $653,500
16 to 20 years, single independent $490,500 $707,000
16 to 20 years, couple combined $843,000 $1,059,500

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.

If you need 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 Pension Loans Scheme.

Page last updated: 20 September 2021