Pension Calculator

To determine the current level of pension that you should be receiving, simply enter the required information into the boxes below. Your fortnightly pension amount will be displayed at the bottom of the page. If you need to start again, click on the reset button.

If your current pension amount is different to the result you receive from our Pension Calculator, please be sure to contact us to discuss how we can assist you in ensuring you get your correct pension.

Status

Please select your current status from the options below. If none of the following describes your current status please contact us on 03 9898 1500 for assistance.

Important Instructions:

  • 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.
  • Use the helpful hints on the right to further assist you.

Assets

CENTRELINK ASSETS

This can be found in the Red Book at www.redbookasiapacific.com.au

This is "almost fire sale" value, not insured value. Never more than $10,000.

What could you get if you sold your collection?

Market Value

Include any property at current market value

The asset value of these Income Streams is counted in the Asset Test.

The asset value of these Income Streams is counted in the Asset Test.

Only include the value counted (50% or 0), not the full value.

Only include the value counted, not the full value.

The asset value of the Bond

INVESTMENT ASSETS

Deeming is a simple set of social security rules used to assess income, based on the value of your assets.

All of the assets in this section are subject to deeming and the value of the deemed income is automatically calculated for you and inserted in the INCOME section below.

Current deeming rates are:

  • 0.25% up to $62,600 (singles) or $103,800 (couples)
  • 2.25% on everything above

TOTAL ASSESSABLE ASSETS

These are for the Asset Test Only.

These assets are also Deemed for the Income Test.

TOTAL VALUE OF ASSETS FOR THE ASSETS TEST

Income

ASSESSABLE INCOME (Annual Income)

This is the total of all income payments you receive from Income Streams.

Limited to 10% for Defined Benefit Pensions.

Total rent received less any costs, including mortgage.

This is the GROSS income, ie before tax is taken out

Automatically calculated for you

Do you have any income from any other source?

Age Pension Entitlement

The pension paid is the lower of the rate calculated under both the Asset Test and the Income Test

PER FORTNIGHT - EACH FOR A COUPLE