Age Pension Calculator AU 2026 (Income & Assets Test)

Quick answer

This calculator estimates your fortnightly Age Pension under the rates effective from 20 March 2026 (Services Australia). It runs both the income test and the assets test — deeming your financial assets at 1.25% and 3.25% — and pays the lower result, up to $1,200.90 a fortnight for a single or $1,810.40 combined for a couple.

Item	Value
Maximum rate (single)	$1,200.90 per fortnight
Maximum rate (couple, combined)	$1,810.40 per fortnight ($905.20 each)
Income test free area	$218/fortnight single; $380/fortnight couple; then 50c per $1
Assets test free area (homeowner)	$321,500 single; $481,500 couple; then $3/fortnight per $1,000 over
Deeming rates	1.25% up to $64,200 (single) / $106,200 (couple combined); 3.25% above
Work Bonus	First $300 of fortnightly employment income excluded

What this Age Pension calculator estimates

This calculator estimates your fortnightly and annual Age Pension under the rates effective from 20 March 2026, including:

• The maximum fortnightly rate for singles and couples (base rate plus pension supplement plus energy supplement).
• The income test with deeming on financial assets and the Work Bonus on employment income.
• The assets test with the four threshold variants (single/couple × homeowner/non-homeowner).
• The lower of the two tests, which is the binding result for the typical pensioner.

Numbers come from Services Australia — How much Age Pension you can get, the income test and assets test pages, and the deeming and Work Bonus pages. Rates indexate twice a year on 20 March and 20 September. This is a general estimate, not a Centrelink determination.

How the income and assets tests cut your pension

Maximum fortnightly rates from 20 March 2026:

• Single — $1,200.90 ($1,100.30 base + $86.50 pension supplement + $14.10 energy supplement)
• Couple, each — $905.20 ($829.40 base + $65.20 pension supplement + $10.60 energy supplement)
• Couple, combined — $1,810.40

Income test:

deemed income (annual) = first $64,200 (single) / $106,200 (couple) × 1.25%
                          + amount above × 3.25%
deemed income (fn)     = deemed annual ÷ 26
employment after WB    = max(0, employment income − $300)
assessable income (fn) = deemed (fn) + other income (fn) + employment after WB
income free area       = $218 (single) / $380 (couple combined)
income reduction (fn)  = max(0, assessable − free area) × 50%
income test payment    = max(0, max fortnightly − income reduction)

Assets test:

assessable assets      = financial assets + other assets (excludes principal home)
assets threshold       = $321,500 (single homeowner)
                       / $579,500 (single non-homeowner)
                       / $481,500 (couple homeowner combined)
                       / $739,500 (couple non-homeowner combined)
assets reduction (fn)  = max(0, assets − threshold) ÷ 1000 × $3
assets test payment    = max(0, max fortnightly − assets reduction)

Final payment:

fortnightly payment    = min(income test payment, assets test payment)
annual payment         = fortnightly × 26

What counts as assessable income and assets

• Relationship status — single or couple. Couple inputs are combined (both partners' assets and incomes added together).
• Homeowner — tick if you own and live in the home. The principal home is not counted as an asset, but the higher non-homeowner threshold applies if you do not own.
• Financial assets — bank deposits, shares, managed funds, account-based pensions, super if over Age Pension age. Subject to deeming.
• Other assessable assets — cars (market value), contents (auction value, often $5,000-$10,000), investment property, the surrender value of life insurance.
• Other fortnightly income — rent (net of expenses), foreign pensions, periodic compensation, distributions from private trusts.
• Employment income per fortnight — gross wages or business income from gainful work. Work Bonus excludes the first $300.

Worked pension examples: which test binds

1. Single homeowner with no other income or assets. Both tests pass at the max → $1,200.90/fn ($31,223.40/yr).

2. Single homeowner with $400,000 financial assets. Deemed income = $64,200 × 1.25% + $335,800 × 3.25% = $11,716/yr ≈ $450.62/fn. Income test: $450.62 over $218 by $232.62 → reduction $116.31 → payment $1,084.59. Assets test: $400,000 over $321,500 by $78,500 → reduction $235.50 → payment $965.40. Lower = $965.40/fn (assets test binds).

3. Single homeowner working 16 hours/week at $25/hr. Employment income $800/fn. Work Bonus excludes $300 → $500 counted. Income test: $500 over $218 by $282 → reduction $141 → payment $1,059.90. Assets test passes at max. → $1,059.90/fn.

4. Couple homeowner with $250,000 financial assets and $700/fn rental income. Deemed: $106,200 × 1.25% + $143,800 × 3.25% = $6,001/yr ≈ $230.81/fn. Income: $230.81 + $700 = $930.81, over $380 by $550.81 → reduction $275.40 → payment $1,535.00. Assets: $250,000 below $481,500 → max. → $1,535.00/fn (income test binds).

5. Single non-homeowner renting with $500,000 financial assets. Non-homeowner threshold $579,500 → assets test at max. Deemed = $64,200 × 1.25% + $435,800 × 3.25% = $14,966/yr ≈ $575.62/fn. Income: $575.62 over $218 by $357.62 → reduction $178.81 → payment $1,022.09. → $1,022.09/fn (income test binds). The renter may also be eligible for Commonwealth Rent Assistance.

6. Couple homeowner with $700,000 financial assets and $50,000 car/contents. Total assessable = $750,000, over $481,500 by $268,500 → reduction $805.50 → assets test = $1,004.90. Deemed = $106,200 × 1.25% + $593,800 × 3.25% = $20,626/yr ≈ $793.31/fn. Income: $793.31 over $380 by $413.31 → reduction $206.65 → income test = $1,603.75. Lower = $1,004.90/fn (assets test binds).

Deeming, the Work Bonus and other traps

• Counting your home as an asset. Your principal home is exempt regardless of value. Selling it can dramatically increase your assets test outcome.
• Forgetting the lower-of-two-tests rule. Centrelink applies whichever test gives the lower payment. Many people are surprised to find a "wealthy" portfolio assessment overrides a low-income calculation.
• Missing deeming. Bank account interest of $200/year does not count at $200 — it is deemed at the deeming rates, which can be much higher when balances are large. The reverse is also true: a $1m share portfolio earning 6% in dividends is still deemed at the 1.25% / 3.25% rates, often producing a lower assessable income than reality.
• Including the family home in net wealth. Some retirees overstate their assets by including the home — recalculate without it.
• Ignoring the Work Bonus. The first $300/fn of employment income is excluded entirely. Pensioners can earn around $7,800/year before any pension reduction starts.
• Using outdated thresholds. Rates change every 20 March and 20 September. Always confirm current figures with Services Australia before making decisions.
• Forgetting partner income. A couple's assets and income are combined, regardless of whose name they are in.
• Granny flat and gifting rules. Gifts above $10,000/year ($30,000 over 5 years) and granny flat contributions are deprived assets and remain assessable for five years. Not modelled here.

Background articles

• Super Contribution Caps: Concessional vs Non-Concessional, and Carry-Forward (FY2025-26)

Calculators in the same area

• Transition to Retirement Pension Calculator — strategy before Age Pension age.
• Super Minimum Pension Drawdown Calculator — the related minimum-payment rules for account-based pensions.
• SAPTO and LITO Tax Offset Calculator — tax offsets that complement the Age Pension.
• Commonwealth Rent Assistance Calculator — for non-homeowner pensioners.
• Spouse Super Contribution Calculator — pre-retirement strategy for couples.

Sources:

• Services Australia — Age Pension
• Services Australia — How much Age Pension you can get
• Services Australia — Income test for Age Pension
• Services Australia — Assets test for Age Pension
• Services Australia — Deeming
• Services Australia — Work Bonus
• DSS — Guide to Social Security Law