Income

Pension Payment Rates, Income & Assets Tests

The following information relates to Pensions. Pensions paid by Centrelink are means tested, meaning the amount of Pension received is dependent on the level of personal assets and income.

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Age Pension Eligibility

The following information relates to eligibility to the Age Pension. To be eligible for the Age Pension you first must meet age and residence requirement.

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Work Bonus

The Work Bonus is intended to act as an incentive for Age Pensioners to stay in or return to work.

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Pension under the pump

THERE is no doubt that Australia's federal Budget deficit is being visited upon the pension system and the superannuation system.

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Deeming or robbing rates?

CPSA has been receiving a fair few calls about deeming rates lately. Deeming rates are used in the pension income test to assess the income a pensioner has received from bank interest, dividends and such like. Centrelink doesn't look at the actual income, but deems it instead. Usually deeming rates sit under the three-monthly term deposit rate.

Read more: Deeming or robbing rates?