Australia’s Age Pension is a fortnightly government payment designed to help eligible retirees manage living costs after they stop working. For Australians around age 55, understanding the rules early can make retirement planning easier. While the pension age is currently 67, eligibility is based not only on age but also on income, assets, and residency requirements. Superannuation savings, investments, and other financial assets can affect how much pension support someone receives. Your primary home is generally not included in the assets test, but other property and savings may count. Planning ahead can help Australians make informed decisions about savings, retirement income, and long-term financial goals before reaching retirement age.
ELIGIBILITY FOR THE AGE PENSION
