Did you know that even if you're tapping into your super, you might still be eligible for the government Age Pension? Pretty neat, right?
If you want to find out more about the rates and see if you qualify, it's worth digging deeper into the details. Getting some extra support through the Age Pension can make a real difference in your financial situation.
The Age Pension is like the superhero of government income support payments for older Australians. It's designed to provide some much-needed assistance when you reach retirement age.
The best part is that many people are actually eligible to receive this support. It's like a helping hand from the government to ensure you're taken care of as you navigate your golden years.
To be eligible for the age pension, you need to be
aged 67 or over
an Australian resident for at least 10 years
under the income and assets test limits set by Centrelink
For full eligibility requirements and information about income and asset test limits, head to the Services Australia website.
The amount you could receive depends on your unique circumstances.
When you apply for the Age Pension, they'll ask you to complete an income and asset test. This test is like a friendly evaluation that helps determine the level of support you'll receive. It considers things like your income and assets to give you a clear picture of what to expect.
If you’re single, the maximum you could get is $971.501 per week.
If you’re in a couple, the maximum you could receive is $1464.601 per week.
1amounts are updated every March and September. These amounts are correct as of 16 May 2023.
Applying for the Age Pension is all done through Centrelink.
Once you qualify, Centrelink will consider various factors to determine how much you'll receive. And guess what? Your GuildSuper pension info is one of those important things they'll consider.
We’ll send your pension details to Centrelink at least once a year, so you need to make sure that the personal details we have on file match with Centrelink's records. Log in to your account and double-check your personal details.
Page last updated 1 December 2023