Short term Finance for Seniors
Are you receiving the correct Age Pension Payments?
Age Pension eligibility is calculated by a means test assessment.
Both income and assets are assessed by Centrelink/DVA in order to determine eligibility and payment amounts.
The current maximum age pension payments are
Single $1064.00 per fortnight
Couple $802.00 each per fortnight
Income assessment
Recipients are able to earn $204.00 per fortnight for singles ($360.00 for couples) before a reduction can be applied to payments. Payments are reduced to zero when annual income reached $60,632 for singles and $92.768 for couples.
Assets assessment
Home-owners ca have a maximum of #01,750 assessable assets ($451,000 for a couple) before pension payments are reduced. Payments are reduced to zero when assessable assets reach $656,000 for a single ($986,500 per couple)
Applicants who fail the income test for any pension payment may qualify for the Commonwealth Seniors Health Card if the income is between $60,632 and $90,000 for a single. ($144,000 combined income for a couple)
Are you receiving your correct payments?
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