One-Time Centrelink Payout Approved for 2025—Everything You Need to Know to Claim It

Will the Old Age Pension Disappear in 2025 – Will the Old Age Pension Disappear in 2025 – The Age Pension in Australia is not disappearing in 2025. It remains a central part of the country’s retirement income system, supporting millions of older Australians. Contrary to circulating rumours, the federal government has reaffirmed its commitment to continuing the Age Pension, with updated payment rates and eligibility rules introduced in March 2025 to better serve retirees. Whether you’re planning retirement or already receiving payments, understanding the current system is crucial. This guide explains what’s new, what remains unchanged, and how to ensure you’re getting the most from your Age Pension.

Will the Old Age Pension Disappear in 2025

The Age Pension remains safe in 2025. Far from disappearing, it has been strengthened with payment increases and updated thresholds to better support older Australians. Retirees should stay informed, review eligibility regularly, and explore all available benefits to maximise their financial security. By understanding your entitlements, using online tools, and seeking professional advice when needed, you can confidently navigate the pension system and secure a more stable retirement.

Age Pension Will Continue in 2025

There are no government plans to scrap the Age Pension. It continues to be a fundamental pillar of Australia’s social safety net. The Department of Social Services and Services Australia have both confirmed its continuation, with ongoing adjustments to reflect cost-of-living pressures and economic indicators like the Consumer Price Index (CPI) and Male Total Average Weekly Earnings (MTAWE).

Recent Age Pension Increases (Effective March 2025)

To help retirees manage rising expenses, the government raised Age Pension payments from 20 March 2025:

• Single Pensioner: $1,149.00 per fortnight (~$29,874 per year)
• Couples (combined): $1,732.20 per fortnight (~$45,037 per year) These increases reflect routine indexation to ensure pensions keep pace with inflation and wage growth.

Eligibility Criteria for 2025?

To receive the Age Pension, you must meet three main requirements:

Age Test

• From 1 July 2025, the qualifying age becomes 67 for both men and women.

Residency Rules

• Must be an Australian resident for at least 10 years, with 5 years continuously.

Income and Assets Tests

• Your income and assets affect whether you receive a full or part pension, or none at all.

Income and Assets Thresholds

The means test ensures the pension is targeted at those most in need.

Assets Test (Effective March 2025)

• Single Homeowner: Full pension if assets < $314,000; part pension up to $697,000
• Single Non-Homeowner: Full pension if assets < $566,000; part pension up to $949,000
• Couple Homeowners: Full pension < $470,000; part pension up to $1,047,500
• Couple Non-Homeowners: Full pension < $722,000; part pension up to $1,299,500

Income Test

• Single: Full pension if income < $212/fortnight; part pension up to ~$2,510
• Couple (combined): Full pension if income < $372/fortnight; part pension up to ~$3,836.40 For accurate and updated thresholds, visit the Income and Assets Test page.

Other Benefits for Pensioners

Aside from the main pension payment, additional support is available:

• Disability Support Pension: For eligible seniors with disabilities.
• Commonwealth Seniors Health Card: For cheaper medicines and bulk-billed doctor visits.
• Rent Assistance: If you pay rent and don’t own your home.
• Energy Supplement: A regular payment to help with utility bills. These can significantly reduce your out-of-pocket costs and should not be overlooked.

How to Maximise Your Age Pension Entitlements?

To make the most of your Age Pension benefits in 2025, consider the following practical tips:

1. Regularly Review Your Financial Position

Ensure your income and asset levels are reported accurately. Misreporting can result in underpayments or overpayments.

2. Use Centrelink’s Online Services

Create a myGov account linked to Centrelink. This allows you to update information, report income, and access services easily.

3. Seek Financial Information Service (FIS) Help

FIS officers from Services Australia provide free, confidential financial education to help you make informed decisions.

4. Understand Gifting Rules

Gifting assets to family or charities beyond allowed thresholds can reduce your pension. Familiarise yourself with the rules before giving away money or property.

5. Apply for All Eligible Concessions

Ensure you also claim other senior entitlements like utility concessions, travel passes, and medical subsidies at the state and local level.

FAQs About Will the Old Age Pension Disappear in 2025

Will the Age Pension be abolished in 2025?

No. The government has explicitly confirmed the Age Pension will continue.

What is the new eligibility age in 2025?

The qualifying age increases to 67 years from 1 July 2025.

Can I receive the Age Pension if I have savings or superannuation?

Yes, but the amount depends on how much income and assets you have. These are assessed under the means test.

How often are pension payments adjusted?

Pensions are indexed twice a year, in March and September, based on CPI and wage growth.

Where can I apply or check my eligibility?

Visit Services Australia – Age Pension to apply or use the Payment and Service Finder tool.

Is the pension taxable?

Generally, Age Pension payments are not taxable if you’re under the income thresholds. However, if you earn extra income from investments or employment, you may need to declare it.