The Australian Government has introduced a new round of pension changes starting in April 2025, directly impacting thousands of retirees across the country.
These updates include increased Age Pension rates, revised income and asset thresholds, and changes to payment schedules due to upcoming public holidays. Understanding these changes is vital for retirees to continue receiving full benefits without interruption.
Increased Age Pension Rates from April 2025
From March 20, 2025, the Age Pension payment rates have increased to help retirees meet rising living costs. The new fortnightly pension amounts are as follows:
| Recipient Type | Old Rate | Increase | New Rate |
|---|---|---|---|
| Single | $1,144.40 | $4.60 | $1,149.00 |
| Couple (combined) | $1,725.20 | $7.00 | $1,732.20 |
This increase includes the base pension, pension supplement, and energy supplement. These changes are applied automatically, so recipients don’t need to reapply or submit any additional paperwork.
Updated Income and Asset Test Limits
To continue receiving the full or part Age Pension, retirees must meet updated income and asset thresholds. These limits determine how much pension you’re eligible for based on your earnings and the value of your assets.
Income Test Thresholds
| Status | Previous Limit (Fortnightly) | New Limit (Fortnightly) | Increase |
|---|---|---|---|
| Single | $2,500.80 | $2,510.00 | $9.20 |
| Couple | $3,822.40 | $3,836.40 | $14.00 |
Asset Test Thresholds
| Status | Homeowner | Old Limit | New Limit | Increase |
|---|---|---|---|---|
| Single | Yes | $695,500 | $697,000 | $1,500 |
| Single | No | $947,500 | $949,000 | $1,500 |
| Couple (combined) | Yes | $1,045,500 | $1,047,500 | $2,000 |
| Couple (combined) | No | $1,297,500 | $1,299,500 | $2,000 |
If you exceed these limits, your Age Pension may be reduced or stopped, so it’s important to keep your details updated with Centrelink.
Payment Schedule Adjustments in April 2025
Due to several public holidays in April, including Good Friday (April 18), Easter Monday (April 21), and Anzac Day (April 25), there will be changes to the Centrelink payment schedule:
- Centrelink Offices Closed: Services will be unavailable on public holidays.
- Early Payments: If your payment falls on a public holiday, you may receive it earlier.
- Reporting Date Changes: If you’re required to report income, you must do so by the rescheduled date to avoid payment delays.
You can check your payment and reporting details by logging into your myGov account linked to Centrelink.
How Retirees Can Prepare
To avoid missing payments or being deemed ineligible, follow these key steps:
- Keep Your MyGov Details Updated: Ensure your income, assets, and living situation are current.
- Check Reporting Dates: Be mindful of early or changed reporting requirements around public holidays.
- Monitor Payment Notices: Stay alert to any communication from Centrelink regarding updates or changes to your entitlements.
The April 2025 Age Pension changes reflect the government’s ongoing effort to provide financial stability for older Australians.
With increased payment rates and more generous income and asset thresholds, many retirees will benefit from more financial flexibility this year. However, staying informed and proactive is key to seamlessly receiving your benefits
FAQs
Do I need to apply for the new pension rate increases?
No. If you are already receiving the Age Pension, the increases will be applied automatically to your fortnightly payments.
Will the public holiday payment changes affect my regular pension?
No, you will still receive your payment. However, it may arrive earlier if it coincides with a public holiday. Make sure to check the updated schedule.
How do I know if I’m still eligible under the new thresholds?
You can log in to your myGov account or contact Centrelink to review your income and asset details to confirm your eligibility.