Income and assets

Your Age Pension payment is calculated under both the income and assets tests. The test that results in the lower rate (or zero) will apply.

If you are legally blind you may be eligible for Age Pension (Blind) which usually has no income and assets tests.

Hardship provisions

If you have assets but little or no income, you are expected to rearrange your affairs to provide for yourself. We know in some cases this may not be possible.

If you are in severe financial hardship you may be able to get a payment. This means your income or assets will be tested differently.

Income test

Your income affects the amount of payment you receive.

• Income test for pensions

Assets test

An asset is any property or possession you own either partly or wholly. It includes assets held outside Australia and debts owing to you.

• Assets test for homeowners
• Assets test for non-homeowners
• Extra allowable amount for retirement village and granny flat residents

More information

• Age Pension section