Rising living costs continue to challenge many Australian seniors. The good news is that the Age Pension has received a fresh boost through regular indexation. From 20 March 2026, maximum fortnightly payments increased, delivering extra support to help with everyday expenses such as groceries, utilities, and rent.
This update includes higher base rates, adjusted income and asset thresholds, and small rises in supplements. While the increase is modest, it provides welcome relief for hundreds of thousands of pensioners.
New Age Pension Rates from 20 March 2026
The maximum full Age Pension (including Pension Supplement and Energy Supplement) now stands at:
- Single: $1,200.90 per fortnight
- Couple (each): $905.20 per fortnight
- Couple (combined): $1,810.40 per fortnight
This represents an increase of $22.20 per fortnight for singles and $16.70 per person ($33.40 combined) for couples compared with the previous period.
The higher payments apply automatically to eligible recipients and run until 19 September 2026, when the next indexation review occurs.
Updated Income and Asset Test Thresholds
Centrelink uses income and asset tests to calculate your exact pension amount. Both thresholds have risen in 2026, allowing more seniors to keep or receive a higher payment.
Income Test Free Areas (full pension):
- Single: $218 per fortnight
- Couple (combined): $380 per fortnight
Upper Income Cut-Off (part pension ends):
- Single: $2,619.80 per fortnight
- Couple (combined): $4,000.80 per fortnight
Asset Test Thresholds (full pension):
- Single homeowner: $321,500
- Single non-homeowner: $579,500
- Couple (combined) homeowner: $481,500
- Couple (combined) non-homeowner: $739,500
Asset Cut-Off (part pension ends):
- Single homeowner: $722,000
- Single non-homeowner: $980,000
- Couple (combined) homeowner: $1,085,000
- Couple (combined) non-homeowner: $1,343,000
These higher limits mean many retirees with modest savings or part-time income can now retain more of their pension.
Other Key Changes
- Deeming Rates: The lower deeming rate rose to 1.25% (on the first $64,200 for singles or $106,200 for couples). The upper rate increased to 3.25%. This affects how Centrelink assesses income from financial assets such as savings and shares.
- Pension Supplement and Energy Supplement: These remain included in the total rates above and provide extra help with living and energy costs.
- Work Bonus: Eligible pensioners can still earn extra from work with reduced impact on their payment.
Quick Tips to Maximise Your Age Pension
- Log into your myGov account linked to Centrelink and review your current rate.
- Update any changes in income, assets, or living situation promptly.
- Consider the Work Bonus if you plan to do some paid work.
- Contact Centrelink or a financial adviser for personalised calculations.
FAQs
1. What is the new maximum Age Pension rate from March 2026?
Singles receive up to $1,200.90 per fortnight, while couples receive up to $1,810.40 combined.
2. When did the latest increase start?
The updated rates and thresholds took effect from 20 March 2026.
3. How much extra will most pensioners receive?
Full-rate singles get an extra $22.20 per fortnight, and couples receive an extra $33.40 combined.
4. Will higher asset thresholds help me keep more pension?
Yes. The increased cut-off limits allow more assets before your payment reduces or stops.
5. What should I do if my payment seems incorrect?
Check your details in myGov, then contact Centrelink’s Older Australians line for a review.
Final Thoughts
The March 2026 Age Pension update offers practical cost-of-living support for Australian retirees at a time when every extra dollar helps. While the boost is modest, the higher thresholds give greater flexibility for those with savings or part-time earnings.
Take a few minutes to check your myGov account and ensure your information is up to date. If you have not yet claimed or think you may qualify, contact Services Australia today. Staying informed helps you make the most of your entitlements and enjoy greater financial peace of mind in retirement.
For the latest official details, visit the Services Australia website or speak directly with Centrelink.