The full picture
What is the Age Pension — and who qualifies?
The Age Pension is a government payment available to Australians aged 67 and over who meet residency requirements and pass the means test. Both a full and a partial pension are worth planning for.
Even a partial Age Pension is valuable. It also qualifies you for the Pensioner Concession Card — saving thousands per year on pharmaceuticals, rates, energy bills, and public transport.
How Centrelink assesses you
The assets test & the income test — whichever pays less applies
Centrelink runs two separate tests on your financial position. The one that results in the lower payment is the one that counts.
The Assets Test
Centrelink looks at most of what you own — investments, super (if your partner is over 67), vehicles, and contents. The family home is excluded.
The Income Test
Centrelink counts actual income and deemed income on your financial assets — at rates they set, not what you actually earn.
Thresholds are indexed periodically. The figures above are approximate 2025–26 values — Nasser will confirm the current rates for your specific situation.
What we look at together
Strategies to maximise your Age Pension entitlement
There is no universal fix — the right approach depends on your asset mix, family situation, and retirement income needs.
Asset structuring before you apply
Repositioning assets into exempt or lower-assessed categories before lodging your Centrelink claim can permanently increase your entitlement.
Super drawdown timing
Super balances for a partner under Age Pension age are not assessed by Centrelink. Timing your drawdowns carefully can significantly reduce assessable assets.
Gifting within the allowable limits
You can gift up to $10,000 per financial year (or $30,000 over five years) without those amounts being assessed by Centrelink.
Prepaying expenses and home improvements
Using assessable assets to prepay legitimate expenses — including home improvements — reduces your assessable pool without triggering gifting rules.
Funeral bond & annuity planning
Certain products — including funeral bonds and complying lifetime income streams — receive favourable Centrelink treatment under both tests.
Investment structure review
Deeming applies regardless of what your assets actually earn. Reviewing how assets are held can reduce the income Centrelink attributes to you.
Common questions
The Centrelink questions Australians aged 65+ are asking right now
When can I apply for the Age Pension?
You can apply from age 67 (born on or after 1 January 1957). Claims can be submitted up to 13 weeks before you reach that age.
We recommend beginning Centrelink structuring at least 12–18 months before you plan to apply. Changes made after lodgement are harder to implement and may attract additional scrutiny.
Is my family home counted by Centrelink?
No — the principal family residence is fully exempt from the assets test regardless of its value. If you are a non-homeowner, the asset thresholds are higher by approximately $242,000 (2025–26) to account for accommodation costs.
Does my super count toward the Centrelink means test?
Your own super is fully assessable once you reach Age Pension age (67). However, if your partner is under Age Pension age, their super balance is not assessed — making application timing a meaningful planning decision for couples.
What is deeming and why does it matter?
Deeming means Centrelink assumes your financial assets earn a fixed rate — 0.25% on the first $62,600 (single) or $103,800 (couple) of assets, and 2.25% above those thresholds — regardless of actual earnings. Reviewing how your assets are structured can reduce the deemed income Centrelink applies.
What is the Pensioner Concession Card and what does it include?
The PCC is issued automatically to full and part Age Pension recipients. Benefits include:
| Concession | Detail |
|---|---|
| Pharmaceutical Benefits Scheme | Reduced co-payments on most PBS medicines |
| Council rates | Rebates available in most SA councils |
| Energy bills | SA government energy concession |
| Public transport (SA) | Free travel on Adelaide Metro |
| Vehicle registration | Reduced registration in SA |
| Telephone | Telstra pensioner discount |
The combined value is often $2,000–$4,000 per year — making a part pension genuinely worth pursuing.
Can I work and still receive the Age Pension?
Yes. The Work Bonus allows up to $300 per fortnight from employment income before it is assessed, with unused amounts accumulating to a balance of up to $11,800. Careful planning around the Work Bonus can significantly reduce the impact on your pension.
How does downsizing affect my Age Pension?
The family home is exempt — but once sold, proceeds become fully assessable financial assets until a new home is purchased. A 12-month exemption applies if you intend to buy or build, but only if declared to Centrelink correctly and on time. Downsizer super contributions are also assessable once made.
Why Lincoln Wealth Advisers
Why choose us for Centrelink advice in Adelaide?
Centrelink advice requires understanding your full financial picture, monitoring legislative changes, and reviewing your position as circumstances evolve.
Specialist experience since 2000
Nasser Zreika has been advising Adelaide retirees on Centrelink structuring, Age Pension applications, and retirement income strategies for over 25 years.
We look at the whole picture
The right asset structure for the Age Pension also needs to work for tax, super, estate planning, and lifestyle income. We consider all of these together.
Independent, fee-for-service advice
Lincoln Wealth Advisers is privately owned and authorised by Synchron (AFSL 243313). Recommendations are based on your goals — not products or commissions.
Ongoing relationship, not a one-time chat
Centrelink rules change. Your assets change. We build long-term relationships so your pension structuring stays optimal through every stage of retirement.
Real clients · Real results
What our clients say
Nasser makes me feel at ease each time we meet. He is always well prepared, and he always gives me options to consider and seems to have my best interest at heart.
My wife and I are very happy with Nasser indeed. He explains everything very well to us and is very patient. We are extremely happy with his service.
Nasser gives comprehensive explanations to any queries we may have and has provided information on alternative products to ensure we have the right fit. We have confidence in the advice Nasser provides.
Our location
Serving clients across Adelaide and surrounds
Based at 65 Goodwood Road, Wayville SA 5034. We also work with clients across South Australia via phone and video appointments.
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To get started with Centrelink or Age Pension advice, contact us — we'll be in touch within one business day.