Even if you have super, you may still qualify for at least a part Age Pension from the government.

Even though Australians have had compulsory super since 1992, many of us will qualify for, and may need to rely on, an Age Pension to some degree in retirement.

Pension Age

The current age pension age is 66, however, this will increase (for those born from 1 January 1954) as shown in the table below.

Commencement Date      New pension age        Affects people born        
1 July 2019 66 From 1 Jan 1954
to 30 June 1955
1 July 2021 66.5 From 1 July 1955
to 31 Dec 1956
1 July 2023 67 From 1 Jan 1957
onwards

From 1 July 2023, the government has indicated that it intends to gradually further increase the eligibility age for the Age Pension to 70 years (by 1 July 2035).

For more information on the the Age Pension, please go to www.humanservices.gov.au or view our fact sheet Your super and the age pension

 

Your eligibility for the age pension

You may be pleasantly surprised to find out that you could, in fact, qualify for an age pension. Perhaps you won't receive the full amount, but even a part pension can give a regular boost to your finances. To learn more please read our fact sheet Your Super and the Age Pension

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