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.
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.
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.