The Government Aged Pension in Australia.
The Government Aged Pension is a welfare benefit, paid by the Department of Human Services [Centrelink], the Australian welfare system.
The Aged Pension is an Income support for older Australians, it is not something that everyone gets. It is only for those in Financial Need.
Most Australians reaching retirement age will be eligible for a Superannuation from their Employment, under the Compulsory Super Plan. This income may make them ineligible for the Aged Pension under the Income and Assets test.
The Pension age for people born before 1 July 1952 is 65 years of age.
The pension age for men and women born from 1 July 1952 will be gradually increased from 65 to 67 years.
To be eligible for the Aged Pension you need to fit the various Eligibility Requirements, these include:
- Age Requirement
- Residence Requirement
- Income test
- Assets test
Australian Aged Pension Payment Rates.
- Age Pension Increase March 2024. 9th February 2024
- Australian Aged Pension from September 2023 4th September 2023
- Australian Aged Pension from March 2023 6th March 2023
- Australian Aged Pension from September 2022 5th September 2022
- Fake News: $4,000 for Retirees 4th September 2022
- Australian Aged Pension from March 2022 13th March 2022
- Australian Age Pension while outside Australia 14th September 2021
- Australian Aged Pension from September 2021 13th September 2021
- Australian Aged Pension and Work Bonus 7th August 2021
- Australian Aged Pension from March 2021 12th March 2021
- Australian Aged Pension from March 2020 24th March 2020
- Australian Aged Pension from September 2019 17th September 2019
- Australian Age Pensioner Updates April 2019 5th April 2019
- Australian Aged Pension from March 2019 24th March 2019
- Australian Aged Pension from September 2018 10th September 2018
- Pension Age in Australia 6th September 2018
- Australian Aged Pension – Non-resident Citizen of Australia 9th August 2018
- Australian Aged Pension from March 2018 1st March 2018
- $3.05 per week Increase in Australian Aged Pension from Sept 2017 14th September 2017
- Aged Pension Rates in Australia 2017 14th September 2017
- Australian Aged Pension and Living Overseas 19th October 2015
The Residence Requirement.
To be eligible for the aged pension, you need to be a Australian resident for a total of at least 10 years, with at least five of these years in one period.
Any eligible overseas pension must be applied for, and the rate will be taken into account when calculating the Australian Payment rate.
Links:
Payments for Older Australians:
www.humanservices.gov.au/../payments-for-older-australians
Payment Rates for Aged Pension:
www.humanservices.gov.au/../payment-rates-for-age-pension