Applying for the Age Pension

The Government Age Pension is a safety net for many Australians. It’s designed to provide a regular income to support older Australians with the cost of living in retirement. 

You can apply for the Age Pension through Services Australia. Your application can be made online, by phone, or by visiting a Centrelink office. Before you start the process, you’ll need to prepare your supporting documentation. At a minimum, you’ll need to provide your: 

-    Age 
-    Tax File Number 
-    Information of your relationship status i.e. are you single or part of a couple? 
-    Details of your income and assets.

If you plan to apply online, you should also set up your online MyGov and Centrelink accounts, making sure they are linked, and you have confirmed your identity. Services Australia has a guide to help you through the process of making a claiming online. 

If you can’t apply online, you can complete the application form or visit a Services Australia centre in-person.
 

When can you apply? 

There’s no need to wait until you turn 67. You can claim the Age Pension 13 weeks before your 67th birthday. Services Australia will write to you to let you know if you’re eligible to apply. Services Australia recommend that you apply as soon as you’re eligible because the process can take some time and can’t be completed until you have submitted all of your required documentation. 

Keep in mind that applications for the Age Pension can’t be backdated. So, if you wait until you’re age 70, for example, you might be missing out on three years of Age Pension payments.
 

Eligibility

To qualify for the Government Age Pension, you must be 67 years or older, be an Australian resident, and meet the income and assets tests. The amount you might receive – either a full or part pension – is based on your personal financial situation. 

Keep in mind that the Government Age Pension is not a guaranteed option for everyone who is ready to retire. But that doesn’t mean you may not qualify later on. As eligibility is assessed based on your assets and income each year, once you have spent a portion of your super savings, you may be eligible to receive some or all of the Government Age Pension.
 

Can you claim the Age Pension and still work?

It’s important to understand how the Age Pension can be affected if you’re still working or want to work: 

1.    Income test: Your income will be assessed against the Age Pension income test. Be aware of income limits as a higher income may reduce your Age Pension payments.

2.    Work Bonus: The Government also offers a Work Bonus, which is an incentive to keep older Australians in the workforce for longer. The Work Bonus lets you earn up to certain amounts every fortnight before your Age Pension is impacted. Your eligible Work Bonus amount isn’t included in your income test calculation, so it may provide a way to supplement your Age Pension and use less of your super while you’re still working.

Visit Services Australia for comprehensive information about the Government Age Pension, including the income and assets tests.