When you retire, you may be eligible to receive the Age Pension.
Qualifying for the Age Pension
Age requirements
To be eligible you must be age 66 or older.
The age pension age will increase by 6 months every 2 years until 1 July 2023.
| IF YOUR BIRTHDAY IS: |
YOU'RE ELIGIBLE AT: |
| 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 |
Source: Australian Government Department of Human Services
Residence requirements
You generally must be an Australian resident and in Australia on the day you lodge your Age Pension claim. You also need to meet the government’s residency requirements.
Centrelink has more information.
Receiving the Age Pension
The amount Centrelink pays you depends on your income and assets.
Income and assets tests
The assets test lets you have a certain level of assets to qualify for the maximum Age Pension amount, while the income test lets you earn up to a certain amount of income before it affects your Age Pension payments.
Centrelink has more information.
Get advice
Talk to UniSuper Advice on 1800 823 842 to find out how they can help you.