Over the last few weeks we have received lots of comments and questions from customers wondering how their partner’s age and working arrangements can affect their entitlements. So this week we are going to answer some of those questions.
I am 67 and retired but my partner is 60. Can I apply for the age pension?
The answer is yes. Your combined assets and income will however be assessed as a couple. If you are eligible you will receive half of the couple’s age pension entitlement. When your partner reaches pension age he or she can apply and you will receive your full entitlement as a couple.
My younger partner is still working. Can I apply for the age pension?
The answer to this is the same as the above. Yes you can still apply. If your partner is still working then his or her income will be included in the income test for a couple so it could affect the amount you are eligible to receive.
Will my younger partner’s super count towards the asset test?
If your partner is not yet of pension age, and their super is still in an accumulation account, i.e. they haven’t started an income stream, then it is not counted in the assets test. This has led to many people asking the following question…
If I transfer some of my assets to my younger partner’s super could I get more favourable treatment in the assets test?
The answer is yes. People can use the superannuation “bring forward” provisions whereby their partner could contribute up to $360,000 to their super, if they meet the relevant non concessional contribution rules.. If their partner is not yet of pension age their super will be exempt from the assets test. This could mean someone that was previously ineligible for the age pension might now receive a part pension and the Pensioner’s concession card, while a part pensioner will most likely receive more age pension. It is important, however, that you understand the requirements and we suggest you speak to a financial adviser to ensure this approach is right for your financial circumstances.
We would love to hear your comments which you can make below
This article is provided by Retirement Essentials Representative Number: 001260855. We are an authorised representative of SuperEd Pty Ltd ABN 88 118 480 907 AFSL #468859. This information is not intended as financial product advice, legal advice or taxation advice. It does not take into account your personal situation, goals or needs and you should assess your own financial situation, consider if the information is suitable for you and ensure you read any relevant Product Disclosure Statement (PDS) if you choose to make any changes to your financial situation. It is always advisable to consult a financial adviser before making financial decisions.
Hi Wade, if you or anyone else reading would like to talk about your situation in detail, we offer 30min consultations at a cost of $75. We can clarify how Centrelink will assess you specifically and help guide you on any related matters that might impact your Age Pension. If you wish to proceed please CLICK HERE to book the best suitable time available.
I have retired on half pension as a result of transferring super to my wife as suggested. My wife will be 67 this year but if she applies for a pension neither of us will get a pension due to our combined super. My question is what will happen if my wife does not apply? Thank you Richard
Hi Richard. Once your wife reaches Age Pension age (67) her super is assessable, even if it is still in accumulation mode, and should be declared to Centrelink. Centrelink are likely to find this out regardless of whether your wife also applies for the Age Pension.
My husband has just retired & I am 9 years younger than him & still work I earn 700 dollars a week can he still get age pension. he has 150.000 in Super & we own our home
Hi Bev, based on those figures yes he would be eligible.
I am soon to be 67. My wife is 62. What is the cut off point for what May wife can earn before it affects my aged pension when and if I get the pension
Hi Patrick, as a couple you are allowed to earn up to $372 per fortnight (combined) before the pension may be impacted. However assessable income is more then just employment earnings, there is deemed income from your financial assets that is assessed also.
my husband is 67, I am 56. I am still working 30 hours a week as a teacher aide. my husband has been told that he is able to get $300 a fortnight as his aged pension due to my age. how much am I allowed to earn so that he can receive the full pension?
just asking how much the spouse earning a forthnight to be able to get his age pension full my husband is 70 and I’m 58.
Hi,
I am on the age pension and my wife is 12 years younger than me.
We have separated and been apart for a short time living separately but no division of assets has been done. If we choose to leave assets as is would this effect my age pension.
She will have to get a job earning her own money does this effect my age pension in any way?
Hi Stephen, if you are separated then only your income will be assessable, not hers. With assets it depends on what type of assets, things like personal contents would generally have a low value ($10K) anyway so are not of much impact but if there are jointly owned vehicles or bank accounts then only your share is assessable but Centrelink may question if you really are separated if there are still shared financials.
my husband still works full time as he I 8 yrs younger and I am on a aged care pension how do I calculate. what I will get a fortnight as his wage varies.
Hi Debbie you can use our free, online calculator HERE to get an idea but as your husband’s income fluctuates so may your Centrelink payments.
Hello. I will be 67 in November. My wife is younger, not Australian, and lives overseas at present to care for her mother. We/She intends to apply for Australian residency in the near future, but it may take a number of years for approval. She does earn a small amount of money. How does this affect my age pension application? Thank you.
Hi Greg, your wife’s income and assets will be assessable the same as yours even if she is not an Australian resident.
Hi . I’m 67 and my wife is 9 years younger than me and still working 9 days a fortnight. I have aged pension card but most reporting periods are not eligible for any payment. what is the earning threshold before affecting my payment. PS I have 150K super
Hi Wayne, the current income threshold you need to be under as a couple to receive any pension payment is $3,737 per fortnight.
Would the $3737 per fortnight include any earnings from Wayne’s super (i imagine in a pension account?
Hi Jim, thankfully the answer is no. Drawdowns from super, whether in accumulation or pension phase, are not assessed as income by Centrelink.
Hi there. I am 70 and have applied for pension. my partner(who has retired) is under pension age but she is considering changing her super accumulator fund to a retirement pension fund. I know my super is included in assets test but not hers while in an accumulator fund. But once it is transferred to a retirement pension fund the amount would be taken into account. my question is whether the amount of her super say $250000 would then become an asset under the assets test or be part of the income test for the amount she takes out each fortnight.
Hi Colin, Centrelink assess account based pensions as assets based on the total balance, similar the bank accounts, the amount being drawn down does not count as income.
Hi Steven,
I will be 67 next year and plan to retire and my wife will be 62 and working earning approx $115K. We own our home I will have approx $330K in super which I don’t intend to access, my wife a similar amount and we receive income from a $440K investment , which at the moment is in joint names but could be put in her name. Will I be eligible for a part pension
Hi Alan, based on those figures no you would not be eligible because the max you can earn as a couple is $97K so your wife’s salary exceeds that let alone deemed income from the financial assets.
Hi, I’m 74 and on pension, my wife is about to turn 67,we are happy to continue living off my money and pension, leaving her money in superannuation, can we do this and not have my pension affected?
Hi Neil, once your wife turns 67 you need to provide Centrelink with a copy of her most recent superannuation statement so that they can begin assessing it. It is only exempt whilst in accumulation AND she is under pension age. Once she turns 67 it is assessable
Iam surprised people still looking to get pension when they have sufficient super , own home etc .
why is that ?
Iam 54 , my husband 64
husband has plans to retire at 67 and me cut back on work as working as Support workers for last 24 years has taken a toll .I have $205000 in super
my husband $30000 due to being taxi driver .
iam wondering if full pension is around $880.00 per F/N each for married couple.
When Husband retires at 67 .
Iam 57 .
Can I just earn the $880.00 fortnightly and the allowed amount which is around $350.00.
We own a home and hoping to pay it off in 3 years .
Mortgage free would be easier to manage bills on smaller income .
And when I retire at 60
My plan is to just withdraw sufficient from my super to live on while husband gets full pension, Hopefully the super will see me through at least 8 years to recover from my physical and mental work .
Then I can ask for aged pension if iam still around ?
Does it work this way ? ?
Hi Kiran, it is great to see you planning ahead to set yourselves up for success! There are a couple of potential pitfalls in what you have proposed though such as your income whilst under Age Pension age having a bigger impact then you may realise and also the impact of drawing on super whilst under Age Pension age. I would recommend booking a consultation with one of our specialists so we can go through the pros/cons of your suggestion and perhaps consider alternatives. CLICK HERE to make a booking.
Sorry if the question was answered before. We are non-homeowners (about to relocate to start building) with assets under an assessable area, and I hope to earn about 11,000 per year as an accredited counsellor to a small group of clients weekly; my partner (60) will work at building our home along with his own business – we expect his will earnings will reduce to about 20000 per year whilst building. My question is, am I, as the aged pensioner (67), eligible for a work bonus?
Hi Kerrie, in order to receive the Work Bonus you must be receiving the Age Pension (meaning you are under the income threshold without using the work bonus to reduce your earnings) and be earning employment income. Based on the information you have shared we believe you would be eligible for the pension and then Work Bonus too.
My wife will turn 67 next year, retired many years ago. I am 62 & plan to retire soon. I believe that I can access some of my Super but leave the majority in Accumulation and it will remain exempt from Centrelink assets test. Is that correct?
HI Neil, yes you are correct. Whilst you are under Age Pension age and your super is in accumulation it is exempt from assessment.
Thanks Steve. The various requirements are a minefield. I have worked in finance for over 40 years. Have to feel sorry for people who don’t have an aptitude for jumping through hoops.
Hi, I will be applying for the age pension in November I turn 67 end of January. I have worked out my figures and believe I will be eligible for full age pension. my partner is 65 and is on jobseeker I am confused about how much he will receive on jobseeker when I go to age pension. is it $372.00 or the full amount of jobseeker $860 fortnight ?
Hi Michelle, great work planning ahead to know when you can apply and how much you will be eligible for! We don’t work with Jobseeker claims so are not certain on the criteria but generally Centrelink payments do not impact other Centrelink payments. For eg, his Jobseeker payments will not impact your Age Pension assessment.
my husband pullans?n to retire soon his 67 years old , i haven’t been working for 2 years on income protection , it ends soon cant work because off my illness , so when his age pension. wll they make me pension
My husband is 75 and retired on August 05th, 2024. I am 56 yo. I work a couple of days a week, sometimes I earn $2K + sometimes just $300. It just depends on how many clients I have (cosmetic Injectables). My husband has approximately $450K in Super and I have approximately $400K. We own our own home and have about $150K in savings. We don’t have any other investments. Can my husband transfer his super to mine and if so would he be eligible for any pension?
My husband is nearly 67 and wanting to apply for the age pension. I’m 58 and work as a relief teacher occasionally. I have no set time or contract. I usually work 1 or 2 days in the school week.
If my husband gets a part pension do I have to commit to working 15 hours a week paid or voluntary or be actively looking for work until I decide to retire?
Hi Salli-Jane, thankfully the Age Pension has no set requirement, you can work as much or as little as you like but please note that any income you earn will be assessed for your husband’s Age Pension payments so it could reduce what he is eligible to receive.
I am on part Age Pension. My wife is 66 & hasn’t worked in over 10 years. Does the Health Care Card benefit her as well. Her name is on it with her on CRN. Some doctors say she and others say no.
Hi Nigel, it is not uncommon to have inconsistent responses because ultimately it is up to the provider themself. Most will often allow your wife to access the concessions via your card because if they don’t you’ll likely go somewhere else that does.
my husband is retiring age I am not can I apply for any benefit if I don’t work
Hi
We are both retired and not yet pension age. I am 3 years younger. We currently live on an income stream from my husbands super. My super is still in an accumulation account. We plan to transfer some of his super to my super account to then allow him apply for the aged pension. Will he qualify?
Potentially, depends on the total value of your combined assets, income and of course the residency test.
I currently receive a part pension my wife turns 67 in October 24 as I have previously listed our joint assets do we need to apply for pension for her with Centrelink or will they automatically reassess our situation
Hi Doug, you will need to lodge a new claim so your wife can start receiving her share of the Age Pension.
Hi
my new husband gets a pension of $1100 a fortnight. my am now looking for work. how much can I earn before husband pension is affected?
Hi Kamala, the minimum threshold for couples to avoid income impacting payments is $372/fn or $9,672?yr however there are many factors to consider such as how much of this threshold is taken up by deemed income and whether or not he is even being income tested or asset tested. We recommend have a session with one of our specialists HERE so we can go over your specific situation as you may be able to earn significantly more before the pension is impacted.
Hi
I am about to retire on 5/1/2024 i am married my wife is 50 and i am 69
my wife earns $2400 nett a fortnight and we are homeowners i have $130,000 in super
can i get the pension?
I’m on a full pension payment and my wife works part time.can she apply for top up payments on centrelink and will it affect my pension
Hi Kelvan, by “top up payments” I presume you are referring to job seeker? If so then no job seeker payments are not assessed as income for the Age Pension but I’m not sure if your wife would be eligible for job seeker payments.
Hi,
My husband is 67, retired and started receiving a minimal Centrelink pension. I am 63 and finished work and my super is still in accumulated. If I withdraw a small amount from my superannuation would that effect husband’s pension.
Hi Carmel, it depends on what you do with the money. If it is just going to sit in the account as ‘just in case’ funds then yes you should declare the increased bank account balance to Centrelink as it could impact the pension. If it is being taken out to then be spent on something then the balance only increased temporarily before reducing back down again.
I left Australia to live in the Philippines with my wife in 2008 as she was going to have my child.i am now about to hit 65. when I reach the time to apply for my pension do you offer the application process as I find it daunting to attempt this myself. I don’t have a Centrelink acct and no way I can afford to keep ringing them as no doubt I would be put on hold for long periods of time. can I email you to give you more personal details
HI Barry, we may be able to assist however one of Centrelink’s rules is that you need to be living in Australia when you apply for the Age Pension and if you have been living overseas prior to applying then you may need to stay living here for 2 years. As such I’d recommend booking in a consultation with us (HERE) so that we can go through your specific situation and explain how you may proceed.
Good morning. My husband turns 67 in March and I am 9 years younger. I can access my super at 60. We have 400k, about to be invested, and our own home, looking to move to a retirement lifestyle village. I believe from your posts that any income between 373 and 3737 a fortnight that I bring in would affect his potential pension. Are those figures net or gross and are they correct? Thank you.
Hi Jane, the current income threshold for couples is $372 and $3,822 per fortnight and Centrelink assess the gross income not net.
My husband is 67 and receives a part pension from Centrelink. I am 63 and have a superannuation fund that is still in accumulation phase. This is not assessed by Centrelink for the purposes of my husband’s aged pension.
If I decide to withdraw a lump sum of, say, $35,000 from my super but still leave it in accumulation, I know that the funds will be assessed once the bank account increases but would the lump sum be treated as income to my husband? Would I have to declare this lump sum to Centrelink? Or just advise of the increased bank balances?
Hi Chris, great question, lots of people ask how this scenario works! The amount withdrawn will NOT be assessed as income, the remaining super balance remains exempt from assessment and yes you will need to declare the transfer to Centrelink so they can amend the balance of the bank account(s) and recalculate your husband’s Age Pension.
My husband receives a part pension. I am under pension age and I have two super funds that are not currently assessed because I am under pension age. One of these funds is quite small, could I withdraw 100% of this fund, leaving me with just one fund, still in accumulation mode? Would I be right in assuming that this remaining fund would still not be assessable as it’s still in accumulation mode? I appreciate any funds withdrawn would be assessed as soon as they reach our bank account.
Hi Chris, thank you for reaching out! You are correct on all fronts. If you withdraw the money it will become assessable (so you need to declare it to Centrelink) but the other fund will remain exempt.
Hi. I’ll be 67 next year and will retire and my husband is 56 but unable to work now due to illness. Does it make sense to put some of my super into his super account? I’m assuming his super may not be used in the assert and income test when I apply for a part pension.
Hi Chris, yes you are correct that his superannuation that is in accumulation will not be assessed by Centrelink until he turns 67 so if you wish you can put some of your super into his.