The Age Pension from Centrelink from Department of Veterans Affairs (Ex Service Personnel) is subject to income and assets tests. Payments are indexed and vary each quarter. Full Pension is payable if assets are less than the:- | Single Person Home Owner | | | $178,000 | | | | | | | Couple Home Owner | | | $252,500 |
A Part Pension is payable if assets are less than:- | Single Person Home Owner | | | $645,500 | | | | | | | Couple Home Owner | | | $957,500 |
Assets do not include the home you live in. The amounts vary upwards if you are a non-home owner. These amounts are indexed upwards irregularly. If your assets are near the upper figures, meaning that you receive only a small pension, there are other benefits which can be financially significant. These include concessions on Electricity, Rates, Telephone, Car Registration, Public Transport, some Entertainment tickets and Ambulance. Many businesses offer cheaper prices on their goods and services. The qualification age for Age Pensions is at present 65 for males and 63.5 for females. These ages will be gradually increased to 67 in coming years.
21st-November-2010 |