Retirement Income & Age Pension Calculator
See roughly what your total retirement income could look like, your own super and savings plus an estimated Age Pension entitlement, based on the income and assets tests.
Your details
Estimated total retirement income
$38,197
Age Pension (fortnightly)
$700
Age Pension (per year)
$18,197
Your own drawdown (4% rule)
$20,000
Per week
$735
Per fortnight
$1,469
Per month
$3,183
Your pension is set by the assets test
Centrelink pays whichever test gives the lower amount. Your assets are deemed to earn $14,914/yr for the income test, regardless of what they actually return.
Based on Age Pension rates and thresholds for March-September 2026. Assumes you've reached Age Pension age and meet residency requirements, and applies current deeming rates to your assessable assets for the income test rather than their actual return. Does not account for gifting rules, defined benefit income, or other Centrelink payments. Rates and thresholds change periodically. This calculator gives an estimate only, is not financial or Centrelink advice, and doesn't replace a Services Australia assessment.
How to use this calculator
- 1. Your expected super and savings balance at retirement, plus any other assessable assets. Your home itself is exempt and shouldn't be included.
- 2. Whether you own your home, whether you're single or a couple, and any other income you expect outside your own assets.
- 3. The calculator applies the income test and assets test the same way Centrelink does, pays whichever gives the lower result, and adds it to your own 4% drawdown.
FAQ
Why does it use two different tests?
Because Centrelink does. The income test estimates your income (using deemed rates on financial assets, not their actual return), the assets test looks at what you own. Whichever test results in a lower pension is the one that applies, so this calculator runs both and shows you which one is binding.
What does 'deemed income' mean?
For the income test, Centrelink doesn't look at what your super or savings actually earned. It assumes a set rate of return (currently 1.25% on the first tranche of your assets, 3.25% above that) and uses that assumed figure regardless of your real investment performance.
Why doesn't my own drawdown affect my Age Pension?
Because the income test uses deemed income, not your actual withdrawals. How much you choose to draw down from your own super each year doesn't change your Age Pension entitlement, only your total assessable assets and the deemed rate do.
Why does home ownership change the result?
Your family home is exempt from the assets test entirely. Non-homeowners get a higher assets test threshold instead, to roughly account for the fact they still need to cover rent or other housing costs from their own resources.
Related reading
How Much Super Should You Have? Average Balances by Age in Australia
Real average super balances by age from ASFA and the ATO, ASFA's Retirement Standard lump sum targets, the gender super gap, and what actually helps if you're behind.
Transition to Retirement (TTR): How the Strategy Actually Works
How a transition to retirement strategy actually works, the two common ways people use it, a worked example, and the tax nuance most explainers get wrong.
Age Pension Australia: Rates, Eligibility, and How It All Works
How much the Age Pension pays, who's eligible, how the income and assets tests actually work, how it interacts with your super, and when to apply.
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Disclaimer
This calculator estimates the Age Pension using rates and thresholds for March-September 2026: maximum rates, income test free areas and taper, assets test thresholds and taper, and deeming rates, all set by Services Australia and subject to change. It assumes you meet Age Pension age and residency requirements, and does not account for gifting rules, defined benefit income streams, other Centrelink payments, or a partner's individual circumstances. This tool provides estimates only, is not financial or Centrelink advice, and does not replace an official assessment from Services Australia.