Industry Super
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The assets test is one of the ways the government decides if you’re able to get the age pension, and whether it’s the full 100% or a reduced pension payment. It takes into account assets such as vehicles, personal items, jewellery, managed funds, as well as investment property, share portfolios, savings, and superannuation balance.
The other test the government uses is the income test, which looks at what you will potentially earn each year.
The list of assets is long, but the most common assets include:
The assets test threshold starts at around $314,000 for a single person who owns their own home and receives the full pension. If the value of your assets go above that, then your pension allowance will be reduced. The limits are higher if you’re a couple, non-homeowner, transitional pensioner or receiving a part pension.
To find out, use the Age Pension Calculator
Try our Age Pension Calculator
Or read this table
| Single | Homeowner | Non-homeowner |
| Full pension limit | $314,000 | $566,000 |
| Transitional pension limit | $621,750 | $873,750 |
| Part pension limit | $686,250 | $938,250 |
| Couple – one or both eligible | ||
| Full pension limit | $470,000 | $722,000 |
| Transitional pension limit | $966,500 | $1,218,500 |
| Part pension limit | $1,031,000 | $1,283,000 |
| Couple living apart due to ill health | ||
| Full pension limit | $470,000 | $722,000 |
| Transitional pension limit | $1,085,500 | $1,337,500 |
| Part pension limit | $1,214,500 | $1,466,500 |
July 2024 rates
A transitional pensioner is someone who started receiving the aged pension before September 2009. At that time there were different rules and tests, and so transition rules were put in place to make sure that those pensioners would not be negatively affected by the new rules. This is why there are different thresholds for transitional pensioners in the table.
As with the income test, even if only one partner is eligible for the age pension, the assets of both will be counted in the Centrelink test.
Our age pension calculator can give you an idea about your eligibility for the age pension, and if so, how much. The calculator uses the assets test and the income test to make an estimate of your age pension entitlement and super income.
Try our Age Pension Calculator
When valuing your assets for the assets test, the general rule is to work out what you’d get if you sold them at market value. You may be able to find some resources online such as vehicle valuations and calculators on home contents insurance sites, but if in doubt, chat to a retirement planning professional.
If you are a member of an Industry SuperFund, they can point you in the right direction for financial advice.
Your question will be sent directly to the fund you select
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