Assets Test for single pension customers 108-03010090
Expand allThis document outlines how the Assets Test and the Income Test are used to establish the level of income support required by a person. The Assets Test establishes the level of a person's assessable assets and then, based on those assessable assets, calculates the person's entitlement.
Rates of pension payments based on asset test limits
From 1 January 2017, the rate of pension payable is reduced by $3.00 per fortnight for every $1,000 of assessable assets above the pensions assets free area. Prior to this this date, the taper was $1.50, but was previously $3.00 per $1,000 prior to 20 September 2007. For the pensions assets free area , see Pensions Asset Free Areas and disqualifying limits link on the Rates and thresholds page.
A potential pension rate is calculated under both the Income Test and Assets Test. The lowest rate calculated is the rate payable to the customer.
Different Assets Test rules apply to Parenting Payment Single (PPS) customers.
The procedure, Exempt income, provides information about assessing income that is exempt from the Income Test.
The Resources page contains links Pension Assets Test rates, payment rates, an example of an assets test calculation, and historical information prior to 20 September 2007.
Related links
Income Test for single pension customers
Income Test for Disability Support Pension customer who is under 21 years with no children
Work Bonus and balance for pensioners of Age Pension age
Transitional rules for pension customers who were on payment at 19 September 2009