Financial services

Social Security

The Age Pension forms a critical part of retirement planning for many Australians. Understanding how it works and how it interacts with your superannuation, investments and income can significantly impact your long-term financial outcomes.

At Apex Financial Services Goup, we provide strategic Age Pension and retirement advice, helping you structure your finances to align with eligibility rules and maximise your retirement position.

Understanding the Age Pension

The Age Pension is one of the primary income support systems for retirees in Australia.

It is designed to support retirees who meet specific criteria, including:

  • Age (currently 67 or older)
  • Residency requirements
  • Income and assets tests

The payment helps support “the basic living standards of older Australians.” [defence.gov.au]

The outcome you receive is heavily influenced by how your financial affairs are structured.

How the Age Pension Fits Into Retirement Planning

For many retirees, retirement income is built from a combination of:

The Age Pension is not separate from your financial plan. It is a key component that must be considered alongside your other assets and income sources.

At Apex Financial Services Group, we help ensure these elements work together effectively.

How We Help You With Age Pension Strategy

Understanding and navigating the Age Pension rules can be complex, particularly when combined with superannuation and investments.

Our advisers help you:

  • Understand your current and future Age Pension eligibility
  • Navigate income and assets tests
  • Structure your finances to align with Centrelink rules
  • Integrate the Age Pension into your retirement income strategy
  • Plan for changes over time that may affect your entitlements

We provide clarity so you can make informed decisions about your retirement.

Our Age Pension & Retirement Services

Income & Assets Test Planning

Your Age Pension entitlement is determined by means testing.

We help you understand:

  • How your assets are assessed
  • How income impacts your payments
  • How different structures may influence your eligibility

Superannuation & Pension Integration

We ensure your superannuation is structured effectively alongside Centrelink considerations.

This includes:

Retirement Structure & Income Planning

We help you build a retirement income strategy that includes:

Cash Flow & Retirement Sustainability

We help you balance:

  • Lifestyle spending
  • Investment income
  • Government support

to create a sustainable long-term plan.

Ongoing Review & Adjustments

Your eligibility and financial position can change over time.

We:

  • Review your strategy regularly
  • Adjust your plan as rules or circumstances change
  • Keep your retirement plan aligned and effective

Who We Work With

We provide Age Pension and retirement advice for:

  • Pre-retirees preparing for Age Pension eligibility
  • Retirees managing income streams
  • Individuals seeking clarity on Centrelink rules
  • Clients restructuring their finances for retirement
  • Couples coordinating joint retirement strategies

What Assets Affect the Age Pension?

When assessing your Age Pension eligibility, Centrelink applies an assets test which looks at the value of what you own.

“Your assets include any property or possessions you own in full, in part, or have an interest in.” [servicesau…lia.gov.au]

This includes assets in Australia and overseas, and even money owed to you.

What Assets are Means Tested?

Assets That ARE Counted

Most assets you own will be included in the Age Pension assets test.

Financial Assets

  • Bank accounts, cash and term deposits
  • Shares and managed funds
  • Cryptocurrency or other investments

Business & Other Interests

  • Business ownership
  • Trusts and company interests
  • Loans you’ve made to others
  • Money owed to you

Personal Assets

  • Vehicles (cars, caravans, boats)
  • Household contents and valuables
  • Jewellery, collectibles

Property (Other Than Your Home)

  • Investment properties
  • Holiday homes
  • Land not used as your primary residence

“We include most real estate you own… The only real estate asset we don’t include is your principal home.” [servicesau…lia.gov.au]

Superannuation & Income Streams

  • Superannuation (once you reach Age Pension age)
  • Account-based pensions
  • Annuities and income streams

Assets That Are NOT Counted

Some assets are exempt from the Age Pension assets test.

Your Principal Home

  • The home you live in is generally exempt
  • Includes up to 2 hectares of land on the same title

“The only real estate asset we don’t include is your principal home.” [servicesau…lia.gov.au]

Other Common Exemptions

  • Prepaid funerals (subject to rules)
  • Some accommodation payments (e.g. aged care)
  • Certain protected compensation payments

Important Considerations

Assets Are Valued at Market Value

  • Centrelink assesses what your assets are worth today, not what you paid for them.

    The value of assets is based on what you would receive “if you sold them at market value.” [servicesau…lia.gov.au]

Couples Are Assessed Together

If you are in a relationship:

  • Your assets are combined
  • This applies regardless of whose name they are in

How Assets Affect Your Pension

Your total assets are compared to government thresholds:

  • Below the limit → Full Age Pension
  • Above the limit → Reduced (part) pension
  • Above the cut-off → No pension

“When your assets are more than the limit… your pension will reduce.” [servicesau…lia.gov.au]

Key Takeaway

The Age Pension is not just about how much you have, it’s about how your assets are structured and assessed.

Even small changes can impact:

  • Your eligibility
  • The amount you receive
  • Your long-term retirement income

How Apex Can Help You Plan for Retirement with Confidence?

At Apex, we help you integrate the Age Pension into a clear and structured retirement plan.

We help you:

  • Understand and plan for your Age Pension entitlement
  • Align your superannuation and investments with Centrelink rules
  • Build a sustainable retirement income strategy
  • Reduce uncertainty and improve confidence in your financial future

Our goal is to ensure every part of your financial plan is working together to support your retirement lifestyle.

Need an Appointment?

Contact our team at Apex Financial Services Group via our form below or through our contact us page to speak with an experienced financial adviser

Apex Financial Services Group's Financial Advisers

Robert O’Reilly

Financial Adviser

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Christopher Slade

Financial Adviser

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Hannah Hines

Financial Adviser

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FAQs: Social Security

What is the Age Pension?

The Age Pension is a government income support payment for eligible retirees.

It is the “main income support payment for people who are Age Pension age.” [openarms.gov.au]

At what age can I receive the Age Pension?

You must be at least 67 years old and meet residency and means test requirements.

Date of birth

Before 1 July 1952

1 July 1952 – 31 Dec 1953

1 Jan 1954 – 30 June 1955

1 July 1955 – 31 Dec 1956

From 1 Jan 1957 onward

qualifying age pension age

65 years

65 years and 6 months

66 years

66 years and 6 months

67

How is the Age Pension calculated?

Your payment is determined using:

  • An income test
  • An assets test

Whichever test results in the lower payment will apply.

Do my assets affect my Age Pension?

Yes. Your assets (such as investments, property and super in retirement phase) are assessed to determine your eligibility.

Is the Age Pension enough to live on?

The Age Pension is designed to support basic living costs, but many retirees rely on additional income from super and investments.

How does financial advice help with the Age Pension?

Financial advice helps ensure your assets and income are structured appropriately within the rules, so your retirement strategy works as efficiently as possible.