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How much money do you get on the pension?

How much money do you get on the pension?

The standard age pension for Australians is $894.40 per fortnight for singles and $1,348.40 per fortnight for couples.

In annualised terms, that equals $23,254.40 for singles and $35,058.40 for couples (or $17,529.20 for each member of the couple).

As the table below shows, those figures assume that pensioners are receiving the maximum basic rate, maximum pension supplement (to help with bills and medical costs) and energy supplement (to help with energy costs).

Per fortnightSingleCouple eachCouple combinedCouple apart due to ill health
Maximum basic rate$814.00$613.60$1,227.20$814.00
Maximum pension supplement$66.30$50.00$100.00$66.30
Energy supplement$14.10$10.60$21.20$14.10
Total$894.40$674.20$1,348.40$894.40

Some Australian pensioners, who were getting part pensions on 19 September 2009, are on a ‘transitional rate’ rather than the standard rate (see table below).

This means they are getting paid at a different amount until they catch up with the current standard rate:

Per fortnightSingleCouple eachCouple combinedCouple apart due to ill health
Maximum rate$738.30$596.40$1,192.80$738.30
Energy supplement$14.10$10.60$21.20$14.10
Total$752.40$607.00$1,214.00$752.40

Who can get the pension?

Australians are entitled to the age pension if they:

For more information about the age pension, visit the Department of Human Services’ age pension page.

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This article was reviewed by Pravin Mahajan before it was published as part of RateCity's Fact Check process.

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