Age Pension Asset Test Thresholds: What Changed and What It Means for You
If you receive the Age Pension, or are close to the threshold either way, two rounds of Centrelink indexation have just moved the goalposts. The asset test limits increased from 1 July 2026, and the income test limits increased again from 20 September 2026. Here is what actually changed and who it may affect.
What changed: asset test limits (from 1 July 2026)
Situation | Previous limit | New limit | Increase |
Single, homeowner | $321,500 | $333,000 | $11,500 |
Single, non-homeowner | $579,500 | $600,000 | $20,500 |
Couple (combined), homeowner | $481,500 | $499,000 | $17,500 |
Couple (combined), non-homeowner | $739,500 | $766,000 | $26,500 |
What changed: income test limits (from 20 September 2026)
Situation | Previous limit (per fortnight) | New limit (per fortnight) | Increase |
Single | $2,627.80 | $2,701.40 | $73.60 |
Couple (combined) | $4,016.80 | $4,128.00 | $111.20 |
Couple, illness-separated (combined) | $5,199.60 | $5,346.80 | $147.20 |
Why the thresholds moved
Both the assets test and the income test are indexed periodically in line with the Consumer Price Index, which is why the limits shift through the year rather than staying fixed. This is a routine adjustment, not a change to how the tests themselves work.
The underlying mechanics, including the taper that reduces your payment once you are above the full pension threshold, have not changed. If you want the full explanation of how the assets test works, our article on social security benefits and asset testing covers this in detail.
What this looks like in dollars
Say you're a single homeowner with $340,000 in assessable assets. Under the previous threshold of $321,500, you were $18,500 over the full pension limit, reducing your payment by around $55.50 a fortnight. Under the new $333,000 threshold, you're now only $7,000 over, cutting that reduction to $21 a fortnight, an extra $34.50 a fortnight back in your pocket purely from this indexation round, without anything in your own situation changing.
What this means for you
If your assets or income sit close to either the old or new thresholds, this indexation round could genuinely shift your pension amount, potentially moving you between a full and part pension, or bringing you into eligibility for the first time if you were previously just over the line.
It is worth checking your position against the updated figures rather than assuming your last assessment still reflects where you now stand.
Getting your position checked
Our Centrelink Services team in Bendigo can review your current assets and income against these updated thresholds and let you know if anything has changed for you. Contact us to arrange a consultation.
Age Pension Asset Test Thresholds FAQ
How much do my assets need to be under to receive a full Age Pension?
From 1 July 2026, a single homeowner can have assessable assets up to $333,000, and a couple who own their home can have combined assets up to $499,000. Different limits apply for non-homeowners.
How much does my income need to be under for a full Age Pension?
From 1 July 2026, a single person can earn up to $226 a fortnight, and a couple $396 a fortnight combined, before the Age Pension starts to reduce. The higher cut-off limits, above which the pension stops altogether, increased again from 20 September 2026.
Does my home count towards the assets test?
Your principal home is generally excluded from the assets test while you live in it.
How often do these thresholds change?
Asset and income thresholds are indexed periodically throughout the year, so figures that applied last year, or even last quarter, may no longer be current.
Do I need to do anything if I'm already receiving a payment?
No. If you're already receiving an Age Pension, Centrelink applies these threshold changes automatically at your next assessment. You don't need to re-apply or notify Centrelink because the thresholds moved, though it's still worth checking your position if you were previously assessed as just over a limit. As always, if in doubt, contact Centrelink or get in touch with a professional for help. Our Bendigo team is here to help.
General advice warning: The advice provided is general advice only. In preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.
Venture Financial Planning Pty Ltd ABN 62 095 194 559 wholly owns Venture Financial Advisers Pty Ltd ABN 60 648 465 445. Venture Financial Advisers is a Corporate Authorised representative of Count Financial Limited ABN 19 001 974 625 Australian Financial Services Licence Holder Number 227232 ("Count Financial"). Count Wealth Accountants® is a trading name of Count Financial. Count Financial is 85% owned by Count Limited ABN 111 26 990 832 ("Count") of Level 8, 1 Chifley Square, Sydney 2000 NSW and 15% owned by Count Member Firm Pty Ltd ACN 633 983 490 of Level 8, 1 Chifley Square, Sydney 2000 NSW. Count is listed on the Australian Stock Exchange. Count Member Firm Pty Ltd is owned by Count Member Firm DT Pty Ltd ACN 633 956 073 which holds the assets under a discretionary trust for certain beneficiaries including potentially some corporate authorised representatives of Count Financial.