How to Calculate Age Pension in Australia 2024
This video looks at how the age pension is calculated in Australia. The age pension is calculated using the income and asset tests, with whichever test gives the lowest result being the one that is used.
Please note this video was filmed in 2024, so figures may change into the future. This video is in no way shape or form financial advice.
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This was the best explanation of the income and assets test I have ever seen. Thankyou very much for providing it. Centrelink should refer people to this video for an explanation. 👍
This is great. My only comment would be that "home contents" and "motor vehicle" are assessed at "fire sale" value, not the "real value" which reduces your total assets.
Great work
Great explanation. Cheers!
Good explanation, thanks a lot
Thank you kindly for the information you provided . Gives a good understanding of how is calculated . Dose it apply to couple that have few years age difference ?
Hi, thanks for this explanation. there are a number of calculatiors available online but we can't seen the workings. Will you share your spreadsheet??
Can you please share your spreadsheet?
Can I download your spreadsheet?
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And a lose of $12,553.80, therefore not receiving any benefits because the government has taken a large part of you pension. This is how the Australian government dragged down pensioners who invest so they can earn money regardless of how you are supposed to on less on over 40% pension. Allowing those who have a Family Trust Fund to get a full pension.