What assets do you own?
Centrelink will use your assets to determine your Age Pension eligibility and payments.
If you own the home you live in…
… it may not be counted as an asset.
If you don’t own your home…
… you may hold more assets before your payments are reduced.
Are you a single or couple?
Age Pension payments differ for singles and couples.
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How much assets can I have and still get the Age Pension?
How your assets affect your eligibility and pension payments
Source: Services Australia, 20 March 2023Single Couple* Homeowner To receive the maximum Age Pension, your assets must be below: You won't receive the Age pension if your assets exceed: 
$280,000 $643,750
$504,500 $859,250 $419,000 $954,000 $643,500 $1,178,500
* Different limits apply for couples separated due to illness -
Which type of assets may be taken into account?
The value of these assets may be taken into account once you’ve reached the qualifying age for Age Pension
Real estate you own
apart from your principal residence (if it’s under 2 hectares and you’ve lived there for at least 12 months)
Financial investments
including cash, shares, term deposits and bonds.
Life interests
the right to receive an income or use an asset for the rest of your life.
Granny flat deposit
money or asset you transfer to live in a granny flat for the rest of your life.
Super accounts
owned by you or your partner
Retirement village deposit
money you pay to live in a retirement village.
Other assets
including motor vehicles and licences; life insurance policies; hobby collections; cryptocurrencies; household and personal items, e.g. computers and jewellery.
Gifts
assets or money given away to your family or friends that exceed either $10,000 in a single financial year or a total of $30,000 over 5 financial years.
Retirement income account
like a Choice Income account.
Business assets
if you’re in a business partnership or you’re a sole trader.
*Please consider your own circumstances and refer to Centrelink’s website. -
Social security deeming rates reduced (COVID-19 legislation)
As of 1 May 2020, the Government has reduced the upper social security deeming rate to 2.25 per cent and the lower deeming rate to 0.25 per cent.
The reductions are part of the Government’s economic response to COVID-19, and reflect the low interest rate environment and its impact on the income from savings. This may benefit members who receive the Government Age Pension.
For details visit the Treasury website.