Age Pension Thresholds  

Recent Blog Items:

Click the button below to see a list of recent NetActuary blog items.

Subscribe To:

To receive blog articles directly please tick relevant boxes below and provide name and email details.

  All articles
  SMSF articles only
  Legal support articles only
  Retirement planning articles


We welcome any comments you may have on blog articles or issues you would like covered.


Name and Email:


Age Pension Increased Thresholds

The new Age Pension thresholds to apply from 01/07/2022 have been announced. While the actual rate of pension is next indexed from 20th September 2022, the increased thresholds will result in a larger Age Pension for many current recipients and more people being eligible.

At NetActuary, we eagerly await these as they allow the calculators to be updated.

Alternative Pic

The increases are:

ItemIncreaseNew Amount
Income Threshold Single$10 p.f.$190 p.f.
Income Threshold Couple$16 p.f.$336 p.f.
Asset Threshold Single Homeowner$9,500$280,000
Asset Threshold Couple Homeowner$14,000$419,000
Asset Threshold Single Non-Homeowner$17,500$504,500
Asset Threshold Couple Non-Homeowner$22,000$643,500
Deeming Threshold Single$2,800$56,400
Deeming Threshold Couple$4,600$93,600

The Commonwealth Seniors Health Card (which gives you cheaper medicines and bulk billing access) has enjoyed a major increase in income thresholds for eligibility. These now are:

SinglesIncreased from $58,000 p.a. to $90,000 p.a.
CouplesIncreased from $92,000 p.a. to $144,000 p.a.

The income test is a combination of actual income and deemed income. The deeming thresholds have increased but the deeming rates will be frozen for two years at 0.25% lower and then 2.25% - even if interest rates keep going up.

NetActuary P/L ABN 94108585164
3/19a Hunter St, Hobart, Tas, 7000
PO Box 750, Sandy Bay, Tas, 7006
Email: Brian@NetActuary.com.au
Direct Telephone: (03) 9028 5002