Yesterday, Centrelink announced it’s regular changes to Age Pension rates in an attempt to keep payments in line with inflation. These new rates will be effective from 20 September, 2018.
As you may know, Centrelink determines an applicant’s Age Pension entitlement and therefore their Age Pension payment rate by assessing their income and assets independently, which is referred to as the Means Tests. The Means Tests are there to ensure the Age Pension is targeted to those who need it most.
Centrelink has also increased the income and assets limits for these test as follows:
To find out what you could be eligible for under these changes, click here to use our Age Pension calculator. Our Age Pension Calculator has been updated and will give you an accurate assessment.
Or, if you have any questions simply call us 1300 527 727. Our Age Pension Specialists are waiting to take your call.