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Centrelink Age Pension Calculator 16.9 pension credit calculator

Age Pension Calculator

back to yourpension.com.au

Updated Sept 20 2017

Before you go ahead, please confirm that you have read and understood the limitations of this calculator. Also please contact us should you require assistance or provide suggestions on how we can enhance this calculator.
We have attempted to provide an easy to use calculator for the majority of cases. In doing so the calculator may not adequately accommodate the more complex scenarios. Again please refer to our About page for more details.
NOTE: As of 1/7/17 age entitlements have changed. Please refer to the Age Entitlement section of the Assumptions and General Use section.
Font +/- Please one of the 4 font sizes below Small Medium size text.... Large XLarge


Close icon=further information. icon=access to Centrelink info. Assumptions and General Use

Use the +/- buttons to expand and collapse content. Use the above Font +/- button above to adjust font size.

After entering information, click 'out' or tab to update the calculator. Estmated payments are updated and shown below.

Sections There are 5 collapsible sections below that can be expanded/collapsed to define your circumstances.
The estimated pension will automatically be adjusted as you make these alterations. Click the the query/info buttons provided in each section to access further information.
The default amount will be the maximum ‘couple’ rate paid to each eligible member of the relationship. Entering Data All income should be entered as annual income, in whole dollars. Couples with only one eligible Where an applicant is part of a relationship - e.g. married - and one partner is 'under' the age pension age, or ineligible for an age pension, Centrelink will treat the application as couple based and pay only the eligible age pensioner the couple rate. Couples - entering income and asset amounts All income and assets are to be entered as combined amounts – even if only one partner is eligible.
Except- Exceptions may include for wages and super, so please note the conditions in those sections. For example, super balances for a partner who is age ineligible is exempt from the assets test. Also the Work Bonus Scheme is based on each partner’s individual wage. Hence the wage amount for each ‘partner’ require separate entries. More Close

General Assumptions and Use

Using the calculator

If you have got this far you will have already read our statements on the limitations of calculators of this type. However we will continue to improve the calculator based on your comments and suggestions.

The format has specifically been designed to suit mobile devices - hence the 'collapsible" buttons (+/-) etc.



We have provided a separate button for determining the age qualification. The gradual increase in the age qualification and from 1/7/2017 both men and women will need to be 67 means that the qualifications are best represented in a table form. So please click the Age Qualification button to check your situation.

Assumptions and Basic Use:

1. For couples please include all your partners details with yours as they will both be assessed under the assets and income tests. There are some exceptions such as if your partner is under the age pension age, then their super will be exempt. Also if your partner is under the age pension age then they will generally not be entitled to the work bonus scheme entitlements.
2. Please be careful in entering your super and pension details. If your super is in 'pension' mode then the income and assets test will be different to those funds that are not. Your super fund will be able to provide you with a report detailing how much of the income from your supers pension will be deductible. Not all income is assessable under Centrelinks income test and this area can get very complex.

Close Age Qualifications Close Age Qualifications: We have frequent queries regrading the qualifying age for the Age Pension. We have also found that the information is best provided in the form below, rather than entering birth dates via calendar 'boxes' etc.

From July 2017
Depending on your birthdate, from July 1 2017 Age Pension age will be 65 years and 6 months.
After that, Age Pension age will go up 6 months every 2 years until 1 July 2023.

Date of birth Qualifying age at 1 July 1952 to 31 December 1953 65 years and 6 months 1 January 1954 to 30 June 1955 66 years 1 July 1955 to 31 December 1956 66 years and 6 months From 1 January 1957 67 years Close July 1 2017 Changes - Centrelink Summary General Claim Guide Eligibility Income test Assets test Marital and Home Status Couple - Home Owners Couple - Non Home Owners Single - Home Owner Single - Non Home Owner Info Close

Marital Status and Home Ownership

Income and Asset Values for Couples

If you selected "Couple" please timberland-women. johnstown penguins game ticketsensure you enter the combined value for you and your partner for each item. i.e If you have several bank accounts, add the value of each and insert the total. This is required where both partners are qualified for the age pension. However if, for example, one partner is under the age pension age then they may not be entitled to the work bonus scheme but their super asset value may be exempt. Refer to the notes on each section if this is the case.

Couples versus Singles:

If you are in a relationship - including single sex relationships - select Couple.
In recent years this has become a more complex situation for example:
You may be considered a couple even if you don’t live together.
Equally you can be treated as a single if you live with someone.
In all cases it may be a same sex relationship. However there are some situations where a same sex relationship can be considered as single!
If a couple is ‘separated due to illness’, not only can one partner be treated as a single, but the income test level threshold increases.

Home Ownership:

If you own - or are paying off your home - your home is normally exempt from the assets tests. In some cases Centrelink may determine that a proportion of your home/land is 'of commercial value'. For example if it is a large property and a proportion is for commercial use. If you believe this may be the case for your home, please seek advice before claiming for the age pension.
If you do not own a home, your asset test thresholds are higher, and you may be entitled to rent assistance, or other accommodation assistance. The rest assistance that you may be entitled to is not covered in this calculator For more information on granny flats, selling your home etc. see the FAQ's section

Close Assets - not deemed by Centrelink

Home Contents:

Info

Fire sale value only - usually between $5-10k. Include collections - art, books etc.

Close

Non Deemed Assets

Non-deemed Assets:

These are assets that Centrelink believe you do not receive an annual increase in value. For example, cars usually fall in value.

CARS: - You can use the 'red book' value or use one of the internet sites to show Centrelink similar values.
This can be found in the Red Book at www.redbookasiapacific.com.au

BOATS/BIKES etc:- market value - as per cars.

HOME CONTENTS:- this should be the fire sale value of the home contents, and usually falls less than $10,000 and more typically around $5,000.

COLLECTIONS: - the value you would get should you choose to sell 'today'. Include value of these in your home contents.

Assets such as the following are treated as Deemed Assets so please provide details in the next section.

INVESTMENT PROPERTY:- this should be the market value of the property less any mortgage. If you do not have a market value use your rates notice value. If you received any income from this property, complete the income section with the annual amount, less costs - e.g. mortgage, management fees etc.

ALLOCATED PENSIONS: - The asset value of these Income Streams is counted in the Asset Test, therefore only include the asset value of the pension.
Also include in this amount any
'ORDINARY ANNUITY' - The asset value of these Income Streams is counted in the Asset Test
'COMPLYING ANNUITY' - Only include the value counted (50% or 0), not the full value.
'TAP PENSION' - Only include the value counted, not the full value.
'BONDS in F/T' - The asset value of the Bond.

Close

Cars & Caravans:

Red book value for all cars, trucks etc.

Motorbikes and boats:

Investment property:

Not your residence/home. This is your investment property, holiday house etc. Only the nett value (nett of the mortgage etc.) needs be entered here.

Super Pensions - pre Jan 2015:

Super Pensions / Allocated Income Streams etc. started before 1/1/2015 will continue to be treated as a non-deemed asset. This 'grandfathering' does not apply to those applying beyond 1/1/2015. The income drawn - less the deductable amount - must be entered via the Income section. Post 2015 super pensions are assessed as a deemed asset. Therefore, for these post 2015 pension accounts the balance is entered via the Invesments - deemed by Centrelink section. An overview publication covering the 2015 change was published by the Dept. and access provided by the link.

TOTAL non-deemed assets:

This is automatically calculated from values entered above .

Investments - deemed by Centrelink

Bank Accounts

Info The total current balance of all funds held in bank accounts - such as cheque or savings accounts, term deposits or cash management accounts, including those held in a Credit Union or Building Society; exclude credit cards.

Close

Deemed Assets

Deemed Assets:

These are assets that Centrelink believe you receive benefit - increase in value.

Rather than looking at each asset and determining the actual rate of return for all assets classes, ' Centrelink will only apply an published 'average'.

That is, you may be achieving a higher rate on your term deposits, but Centrelink will only use their deeming rate. Equally your standard saving account may be returning a lesser rate etc.

Your 'deeming' assets will have this standard rate of return applied to each. The calculator will display the total deemed income associated with these assets.

Some of these assets are periodically and automatically updated by Centrelink. If you feel that the assets - e.g. Shares - have fallen in value then provide Centrelink with revaluations as frequently as appropriate. The same for investment properties etc. should the valuation change, mortgage change etc.

SUPER: - only include the asset value of the super. NOTE if your partner is under the age pension age do not include his/her amount in this asset value. The logic goes something like (being very lose with the ruling) "they can not get access to the money, therefore it is not an asset"

MARGIN LOANS: -If - for example - shares have a margin loan against them, then the total share value will be used for deeming purposes, but only the net share value will be used for the assets test. Do not include the loan for an investment property as the net value of the investment property has been entered as a non-deemed asset.

OTHER LOANS: - make sure you include any money owed to you - from family and friends, your own company etc.

Close

Listed Investments:

Current value of all shares held - refer notes.

Margin Loans:

Margin loan amount for listed investments - refer notes - this will reduce your assets but not the deemed income.The margin loan entered can not be greater than the listed investments amount.

Allocated Pensions and Annuities:

The asset value for these will be assessed under the assets test. From 1 January 2015 the asset value will now be deemed. For Complying Annuities, only include the 'value counted' not the full value. For TAP schemes, only include the value counted, not the full value. Income from these products will be entered under the income section and assessed under the income test. .

Super Funds:

Asset value (balance) of super funds - refer notes

Loans:

Any money, or assets, that have been lent and or outstanding. If there is no chance of being repaid you may request that Centrelink ‘write them off’.

Other:

Any other asset that may earn interest. This may include 'deprived' assets, collections, other overseas investments etc.

TOTAL deemed assets:

This is automatically calculated from values entered above .

Income

Employment Income / Wages:

Info Gross ANNUAL wages Close

Income

INCOME:

All income should be shown on a gross annual basis. Salary sacrificing etc. is ignored for the income test.

WAGES: - Centrelink provide a Work Bonus Scheme for on the age pension. For example, the first $6,500 of wages will be exempt from the income test. The calculator will automatically calculate this Work Bonus Benefit entitlement.

SELF EMPLOYMENT: - NOTE: Centrelink do not provide the Work Bonus Scheme allowance for self-employment! Please record self-employment income in the OTHER INCOME cateegory. We assume Centrelink believe self employment provides additional benefits over 'wages'.

INVESTMENT PROPERTY: - please record the nett income - that is, the gross rental income, less costs etc.

PENSION INCOME: - Enter only the nett benefit from an income stream. That is, an income stream may have a 'deductible amount'. In this case deduct his amount from the total income received for the year. Please enter the annual AUD amount for overseas pensions.

Close

Wages - Partner

If applicable - Gross ANNUAL wages for partner. For the work bonus scheme benefits it will be assumed your partner - if applicable - is also of age pension qualified.

Pension/Income Streams:

Income derived from any non-Centrelink pension.

Investment Property Nett Income:

Any nett income obtained from investment property.

Other Income:

Any other income source - e.g.compensation income, direct deduction income, other Government payment income

TOTAL Income:

This is automatically calculated from values entered above (including deemed income) and is a net value - i.e. includes work bonus benefits credits etc. .

Extras

This section allows for more 'non typical' situations:

Proceeds from the sale of a home

The asset value of the proceeds from the sale of the family home may be exempt from the assets test for 12 months, in some cases 24 months. This allows time to buy, or build, a new home. However, the net sale proceeds are deemed. The deemed income will be included in the Total Income of the Income calculator.

Estimated Age Pension ($/pf) - estimated as at Sept 20 2017 updates

The estimated age pension will automatically change based on the above supplied data. Note: This amount includes the Pension and Clean Energy Supplements

Print Print - a summary of entries and estimated pension What if?

This section show what would happen to the pension if you had additional $10,000 in income, and also what would happen if you had an additional $50,000 in assets. This is to be compared to the amount shown above.

The revised pension for an additional $10,000 in income is: Info Close

About your Pension

Using the Pension Calculator

The amount displayed is a per fortnight amount for each pensioner

If you have assets or income over the minimum levels the calculator will adjust the entitlement. In these cases the calculator will display if it is an Asset or Income based pension.

That is, Centrelink will apply the asset test, and the income test, and determine which will provide the least payment!

For example, if you are on an Income based pension - i.e. your income levels are above the minimum - changing your assets may not provide any increase to your entitlements; and visa a versa.

Play with the calculator to see what those thresholds are for your pension

The What If section

This section provides a very basic picture of how new increased income and assets levels will impact on your pension. Each are treated independently.

The new income level is total - including deemed income, net of any work bonus entitlement etc.

The new asset level is for non-deemed assets. The impact of deemed assets are considered in the new income levels.

If you require a more detailed impact statement, modify the calculator entries.

Close OR the revised pension for an additional $50,000 in assets is: yourpension.com.au Age Pension - Rate Estimation - Summary Report - Sept 20 2017 updates Important Notes:

- The calculator is designed for ease of use and therefore does not cater for all scenarios
- The estimated rate can only be treated as indicative

Assets - non deemed Home Contents Cars and Caravans Bikes and Boats Property Pre 2015 Super Pensions Total non-deemed assets Investments - deemed Bank Accounts Shares Margin Loans Pensions Super Loans Other Total deemed assets Income $ p.a. Wages Wages Partner Pensions Property Other Total Income Estimated Pension $ p.f. includes pension supplement and energy supplement. Home About

© 2011-17 Symbotic Pty Ltd


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Age Pension Calculator

back to yourpension.com.au

Updated Sept 20 2017

Before you go ahead, please confirm that you have read and understood the limitations of this calculator. Also please contact us should you require assistance or provide suggestions on how we can enhance this calculator.
We have attempted to provide an easy to use calculator for the majority of cases. In doing so the calculator may not adequately accommodate the more complex scenarios. Again please refer to our About page for more details.
NOTE: As of 1/7/17 age entitlements have changed. Please refer to the Age Entitlement section of the Assumptions and General Use section.
Font +/- Please one of the 4 font sizes below Small Medium size text.... Large XLarge


Close icon=further information. icon=access to Centrelink info. Assumptions and General Use

Use the +/- buttons to expand and collapse content. Use the above Font +/- button above to adjust font size.

After entering information, click 'out' or tab to update the calculator. Estmated payments are updated and shown below.

Sections There are 5 collapsible sections below that can be expanded/collapsed to define your circumstances.
The estimated pension will automatically be adjusted as you make these alterations. Click the the query/info buttons provided in each section to access further information.
The default amount will be the maximum ‘couple’ rate paid to each eligible member of the relationship. Entering Data All income should be entered as annual income, in whole dollars. Couples with only one eligible Where an applicant is part of a relationship - e.g. married - and one partner is 'under' the age pension age, or ineligible for an age pension, Centrelink will treat the application as couple based and pay only the eligible age pensioner the couple rate. Couples - entering income and asset amounts All income and assets are to be entered as combined amounts – even if only one partner is eligible.
Except- Exceptions may include for wages and super, so please note the conditions in those sections. For example, super balances for a partner who is age ineligible is exempt from the assets test. Also the Work Bonus Scheme is based on each partner’s individual wage. Hence the wage amount for each ‘partner’ require separate entries. More Close

General Assumptions and Use

Using the calculator

If you have got this far you will have already read our statements on the limitations of calculators of this type. However we will continue to improve the calculator based on your comments and suggestions.

The format has specifically been designed to suit mobile devices - hence the 'collapsible" buttons (+/-) etc.



We have provided a separate button for determining the age qualification. The gradual increase in the age qualification and from 1/7/2017 both men and women will need to be 67 means that the qualifications are best represented in a table form. So please click the Age Qualification button to check your situation.

Assumptions and Basic Use:

1. For couples please include all your partners details with yours as they will both be assessed under the assets and income tests. There are some exceptions such as if your partner is under the age pension age, then their super will be exempt. Also if your partner is under the age pension age then they will generally not be entitled to the work bonus scheme entitlements.
2. Please be careful in entering your super and pension details. If your super is in 'pension' mode then the income and assets test will be different to those funds that are not. Your super fund will be able to provide you with a report detailing how much of the income from your supers pension will be deductible. Not all income is assessable under Centrelinks income test and this area can get very complex.

Close Age Qualifications Close Age Qualifications: We have frequent queries regrading the qualifying age for the Age Pension. We have also found that the information is best provided in the form below, rather than entering birth dates via calendar 'boxes' etc.

From July 2017
Depending on your birthdate, from July 1 2017 Age Pension age will be 65 years and 6 months.
After that, Age Pension age will go up 6 months every 2 years until 1 July 2023.

Date of birth Qualifying age at 1 July 1952 to 31 December 1953 65 years and 6 months 1 January 1954 to 30 June 1955 66 years 1 July 1955 to 31 December 1956 66 years and 6 months From 1 January 1957 67 years Close July 1 2017 Changes - Centrelink Summary General Claim Guide Eligibility Income test Assets test Marital and Home Status Couple - Home Owners Couple - Non Home Owners Single - Home Owner Single - Non Home Owner Info Close

Marital Status and Home Ownership

Income and Asset Values for Couples

If you selected "Couple" please ensure you enter the combined value for you and your partner for each item. i.e If you have several bank accounts, add the value of each and insert the total. This is required where both partners are qualified for the age pension. However if, for example, one partner is under the age pension age then they may not be entitled to the work bonus scheme but their super asset value may be exempt. Refer to the notes on each section if this is the case.

Couples versus Singles:

If you are in a relationship - including single sex relationships - select Couple.
In recent years this has become a more complex situation for example:
You may be considered a couple even if you don’t live together.
Equally you can be treated as a single if you live with someone.
In all cases it may be a same sex relationship. However there are some situations where a same sex relationship can be considered as single!
If a couple is ‘separated due to illness’, not only can one partner be treated as a single, but the income test level threshold increases.

Home Ownership:

If you own - or are paying off your home - your home is normally exempt from the assets tests. In some cases Centrelink may determine that a proportion of your home/land is 'of commercial value'. For example if it is a large property and a proportion is for commercial use. If you believe this may be the case for your home, please seek advice before claiming for the age pension.
If you do not own a home, your asset test thresholds are higher, and you may be entitled to rent assistance, or other accommodation assistance. The rest assistance that you may be entitled to is not covered in this calculator For more information on granny flats, selling your home etc. see the FAQ's section

Close Assets - not deemed by Centrelink

Home Contents:

Info

Fire sale value only - usually between $5-10k. Include collections - art, books etc.

Close

Non Deemed Assets

Non-deemed Assets:

These are assets that Centrelink believe you do not receive an annual increase in value. For example, cars usually fall in value.

CARS: - You can use the 'red book' value or use one of the internet sites to show Centrelink similar values.
This can be found in the Red Book at www.redbookasiapacific.com.au

BOATS/BIKES etc:- market value - as per cars.

HOME CONTENTS:- this should be the fire sale value of the home contents, and usually falls less than $10,000 and more typically around $5,000.

COLLECTIONS: - the value you would get should you choose to sell 'today'. Include value of these in your home contents.

Assets such as the following are treated as Deemed Assets so please provide details in the next section.

INVESTMENT PROPERTY:- this should be the market value of the property less any mortgage. If you do not have a market value use your rates notice value. If you received any income from this property, complete the income section with the annual amount, less costs - e.g. mortgage, management fees etc.

ALLOCATED PENSIONS: - The asset value of these Income Streams is counted in the Asset Test, therefore only include the asset value of the pension.
Also include in this amount any
'ORDINARY ANNUITY' - The asset value of these Income Streams is counted in the Asset Test
'COMPLYING ANNUITY' - Only include the value counted (50% or 0), not the full value.
'TAP PENSION' - Only include the value counted, not the full value.
'BONDS in F/T' - The asset value of the Bond.

Close

Cars & Caravans:

Red book value for all cars, trucks etc.

Motorbikes and boats:

Investment property:

Not your residence/home. This is your investment property, holiday house etc. Only the nett value (nett of the mortgage etc.) needs be entered here.

Super Pensions - pre Jan 2015:

Super Pensions / Allocated Income Streams etc. started before 1/1/2015 will continue to be treated as a non-deemed asset. This 'grandfathering' does not apply to those applying beyond 1/1/2015. The income drawn - less the deductable amount - must be entered via the Income section. Post 2015 super pensions are assessed as a deemed asset. Therefore, for these post 2015 pension accounts the balance is entered via the Invesments - deemed by Centrelink section. An overview publication covering the 2015 change was published by the Dept. and access provided by the link.

TOTAL non-deemed assets:

This is automatically calculated from values entered above .

Investments - deemed by Centrelink

Bank Accounts

Info The total current balance of all funds held in bank accounts - such as cheque or savings accounts, term deposits or cash management accounts, including those held in a Credit Union or Building Society; exclude credit cards.

Close

Deemed Assets

Deemed Assets:

These are assets that Centrelink believe you receive benefit - increase in value.

Rather than looking at each asset and determining the actual rate of return for all assets classes, ' Centrelink will only apply an published 'average'.

That is, you may be achieving a higher rate on your term deposits, but Centrelink will only use their deeming rate. Equally your standard saving account may be returning a lesser rate etc.

Your 'deeming' assets will have this standard rate of return applied to each. The calculator will display the total deemed income associated with these assets.

Some of these assets are periodically and automatically updated by Centrelink. If you feel that the assets - e.g. Shares - have fallen in value then provide Centrelink with revaluations as frequently as appropriate. The same for investment properties etc. should the valuation change, mortgage change etc.

SUPER: - only include the asset value of the super. NOTE if your partner is under the age pension age do not include his/her amount in this asset value. The logic goes something like (being very lose with the ruling) "they can not get access to the money, therefore it is not an asset"

MARGIN LOANS: -If - for example - shares have a margin loan against them, then the total share value will be used for deeming purposes, but only the net share value will be used for the assets test. Do not include the loan for an investment property as the net value of the investment property has been entered as a non-deemed asset.

OTHER LOANS: - make sure you include any money owed to you - from family and friends, your own company etc.

Close

Listed Investments:

Current value of all shares held - refer notes.

Margin Loans:

Margin loan amount for listed investments - refer notes - this will reduce your assets but not the deemed income.The margin loan entered can not be greater than the listed investments amount.

Allocated Pensions and Annuities:

The asset value for these will be assessed under the assets test. From 1 January 2015 the asset value will now be deemed. For Complying Annuities, only include the 'value counted' not the full value. For TAP schemes, only include the value counted, not the full value. Income from these products will be entered under the income section and assessed under the income test. .

Super Funds:

Asset value (balance) of super funds - refer notes

Loans:

Any money, or assets, that have been lent and or outstanding. If there is no chance of being repaid you may request that Centrelink ‘write them off’.

Other:

Any other asset that may earn interest. This may include 'deprived' assets, collections, other overseas investments etc.

TOTAL deemed assets:

This is automatically calculated from values entered above .

Income

Employment Income / Wages:

Info Gross ANNUAL wages Close

Income

INCOME:

All income should be shown on a gross annual basis. Salary sacrificing etc. is ignored for the income test.

WAGES: - Centrelink provide a Work Bonus Scheme for on the age pension. For example, the first $6,500 of wages will be exempt from the income test. The calculator will automatically calculate this Work Bonus Benefit entitlement.

SELF EMPLOYMENT: - NOTE: Centrelink do not provide the Work Bonus Scheme allowance for self-employment! Please record self-employment income in the OTHER INCOME cateegory. We assume Centrelink believe self employment provides additional benefits over 'wages'.

INVESTMENT PROPERTY: - please record the nett income - that is, the gross rental income, less costs etc.

PENSION INCOME: - Enter only the nett benefit from an income stream. That is, an income stream may have a 'deductible amount'. In this case deduct his amount from the total income received for the year. Please enter the annual AUD amount for overseas pensions.

Close

Wages - Partner

If applicable - Gross ANNUAL wages for partner. For the work bonus scheme benefits it will be assumed your partner - if applicable - is also of age pension qualified.

Pension/Income Streams:

Income derived from any non-Centrelink pension.

Investment Property Nett Income:

Any nett income obtained from investment property.

Other Income:

Any other income source - e.g.compensation income, direct deduction income, other Government payment income

TOTAL Income:

This is automatically calculated from values entered above (including deemed income) and is a net value - i.e. includes work bonus benefits credits etc. .

Extras

This section allows for more 'non typical' situations:

Proceeds from the sale of a home

The asset value of the proceeds from the sale of the family home may be exempt from the assets test for 12 months, in some cases 24 months. This allows time to buy, or build, a new home. However, the net sale proceeds are deemed. The deemed income will be included in the Total Income of the Income calculator.

Estimated Age Pension ($/pf) - estimated as at Sept 20 2017 updates

The estimated age pension will automatically change based on the above supplied data. Note: This amount includes the Pension and Clean Energy Supplements

Print Print - a summary of entries and estimated pension What if?

This section show what would happen to the pension if you had additional $10,000 in income, and also what would happen if you had an additional $50,000 in assets. This is to be compared to the amount shown above.

The revised pension for an additional $10,000 in income is: Info Close

About your Pension

Using the Pension Calculator

The amount displayed is a per fortnight amount for each pensioner

If you have assets or income over the minimum levels the calculator will adjust the entitlement. In these cases the calculator will display if it is an Asset or Income based pension.

That is, Centrelink will apply the asset test, and the income test, and determine which will provide the least payment!

For example, if you are on an Income based pension - i.e. your income levels are above the minimum - changing your assets may not provide any increase to your entitlements; and visa a versa.

Play with the calculator to see what those thresholds are for your pension

The What If section

This section provides a very basic picture of how new increased income and assets levels will impact on your pension. Each are treated independently.

The new income level is total - including deemed income, net of any work bonus entitlement etc.

The new asset level is for non-deemed assets. The impact of deemed assets are considered in the new income levels.

If you require a more detailed impact statement, modify the calculator entries.

Close OR the revised pension for an additional $50,000 in assets is: yourpension.com.au Age Pension - Rate Estimation - Summary Report - Sept 20 2017 updates Important Notes:

- The calculator is designed for ease of use and therefore does not cater for all scenarios
- The estimated rate can only be treated as indicative

Assets - non deemed Home Contents Cars and Caravans Bikes and Boats Property Pre 2015 Super Pensions Total non-deemed assets Investments - deemed Bank Accounts Shares Margin Loans Pensions Super Loans Other Total deemed assets Income $ p.a. Wages Wages Partner Pensions Property Other Total Income Estimated Pension $ p.f. includes pension supplement and energy supplement. Home About

© 2011-17 Symbotic Pty Ltd