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What is the Age Pension?

The purpose of the Age Pension is to make sure you have enough income in retirement. It is a fortnightly payment made by the government to help you meet the cost of living, if your retirement savings are below a certain level. To be eligible for the Age  Pension, you must have reached a certain age. If you satisfy the age criteria, your current level of wealth is then assessed to  determine whether you can receive a payment. You are also assessed based on whether:

• you are single or a member of a couple, and
• you own your own home.

      For a more detailed explanation click here to view our information brochure