Australia’s Age Pension remains one of the most important financial supports for older Australians. It provides a stable income for retirees who meet government requirements. In 2026, millions of Australians who are already receiving the Age Pension—or planning to apply—have questions about eligibility, payment rates, indexation, and possible policy changes. This guide explains everything clearly to help you plan with confidence.
What Is the Age Pension?
The Age Pension is a government-funded income support payment managed by Services Australia through Centrelink. It is designed to help eligible older Australians cover basic living costs once they retire or reduce full-time work. Unlike superannuation, the Age Pension is not based on what you have saved alone. Eligibility depends on age, residency, income, and assets.
Eligibility Requirements for the Age Pension in 2026
Age Requirement
To qualify for the Age Pension in 2026, you must be 67 years old. This age requirement applies to both men and women.
There are no confirmed government plans to increase the Age Pension age beyond 67 in 2026. Any claims suggesting otherwise are misinformation.
Residency Requirements
To be eligible, you must:
Be an Australian citizen or eligible permanent resident
Have lived in Australia for at least 10 years in total
Have at least 5 continuous years of residence
Some limited exceptions exist, but most applicants must meet the standard 10-year residency rule.
Age Pension Payment Rates for 2026
Age Pension payments are indexed at least twice a year usually in March and September—to help pensioners manage rising living costs and inflation.
The rates below apply from 20 February 2026 to 19 March 2026.
Current Fortnightly Age Pension Rates
| Pension Type | Fortnightly Amount | Approximate Annual Total |
|---|---|---|
| Single (Full Pension) | A$1,178.70 | ~A$30,646 |
| Each Partner (Full Pension) | A$888.50 | ~A$23,101 |
| Couple (Combined) | A$1,777.00 | ~A$46,202 |
These figures include the basic pension, pension supplements, and energy support payments. Indexation is automatic, and most pensioners do not need to take any action.
Additional Age Pension Boosts in 2026
From around February 2026, full-rate pensioners are expected to receive additional support worth more than A$1,080 per year.
This extra support is paid automatically across fortnightly payments, meaning there is no separate application process.
How the Age Pension Is Calculated
Reaching age 67 does not guarantee a full pension. Centrelink applies two means tests, and the lower result determines your final payment.
Income Test
The income test assesses earnings from wages, pensions, and other regular income sources. If your income exceeds certain limits, your pension may be reduced.
The Work Bonus allows pensioners to earn a set amount from work each fortnight without affecting their pension.
Assets Test
The assets test considers the value of your assets, including savings, investments, vehicles, and property (excluding your primary residence in most cases).
Exceeding the asset limits can reduce your pension entitlement.
Indexation and Payment Timing in 2026
The Age Pension is indexed automatically, provided your Centrelink details are up to date.
February 2026 indexation continues into early 2026
March 2026 indexation is expected to adjust payments further
Payments are made fortnightly and deposited directly into your bank account.
Stability of Pension Rules
No major reforms are planned for 2026. The pension age remains unchanged, and eligibility rules stay largely the same.
Keep Your Details Updated
Changes to income, assets, or living arrangements must be reported promptly to Centrelink to avoid overpayments or missed entitlements.
Additional Concessions
Most Age Pension recipients receive a Pensioner Concession Card, which provides access to discounted medicines, utility rebates, and other state and territory benefits.
