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The 20 March 2026 Age Pension changes — are you better off, or worse off?
If you receive the Age Pension, or you're close to qualifying, three things changed on 20 March 2026: pension payments went up, deeming rates went up too, and the part-pension cut-off limits nudged up. For most pensioners that adds up to a small win. But for some, particularly those with significant financial assets like term deposits and shares, the higher deeming rates can wipe out the indexation increase — or worse, leave them with less than they had before. The calculator below shows you exactly where you stand.
What changed on 20 March 2026
Three things moved at once — the regular six-monthly indexation, plus a step up in deeming rates that ended the COVID-era freeze. Here's how it nets out:
Pension payments went up
The maximum single Age Pension rose from $1,178.70 to $1,200.90 per fortnight — an increase of $22.20/fn for singles and $33.40/fn combined for couples.
Deeming rates rose
The lower deeming rate increased from 0.75% to 1.25%; the upper rate from 2.75% to 3.25%. This adds assumed income onto your financial assets — which can reduce your pension.
Asset cut-offs nudged up
The single homeowner part-pension cut-off rose from $714,500 to $722,000. Some people who had no pension before may now qualify.
Compare your pension — before and after 20 March 2026
Enter your situation below. Results update as you type.
Your situation
Your assets
Your pension — before and after
Where you sit on the band chart
The bands above are calculated specifically for your situation, taking your non-financial assets into account. The marker shows where your financial assets sit.
How to read your result
The colour of your difference card and band tells you what category you fall into:
- Better off — you receive more under the new rules. The pension increase has flowed through fully (or mostly).
- Newly eligible — you weren't getting any pension before, but now qualify for a part-pension. You'll also receive the Pensioner Concession Card.
- Worse off — the higher deeming rates reduce your pension by more than the indexation adds. This typically affects people with significant financial assets.
- No pension under either set of rules — your assets are above the cut-off. You may still qualify for the Commonwealth Seniors Health Card.
Where to next?
If your situation is more complex than this calculator captures — or you'd like to dig deeper into your full Age Pension entitlement — explore the related tools below.
Make sense of the bigger picture
This page shows the impact of one change. The tools below help you plan the rest of your retirement strategy.
Full Age Pension calculator
Get a complete breakdown of your fortnightly entitlement, both income test and assets test.
Calculate nowHealth Care Card check
Even if you don't qualify for the Age Pension, you may be eligible for the Commonwealth Seniors Health Card.
Check eligibilityAccuracy Note: Whilst every effort has been made to provide current and accurate information, I am only one person and there's a very good chance I'll miss something. If you spot a factual error, or if a calculator breaks or gives incorrect answers, I'd be really grateful if you could let me know via the Contact Us page so I can fix it ASAP.
Disclaimer: This calculator provides general estimates based on Centrelink Age Pension rates and thresholds for the period 20 September 2025 to 19 March 2026 ("Before") and from 20 March 2026 ("From"). It assumes both members of a couple have reached Age Pension age and that you meet Australian residency requirements. Actual entitlement may vary based on Work Bonus, Rent Assistance, Transitional Pension provisions, illness-separated status, defined benefit income, and other factors not modelled here. This is general information only and does not constitute personal financial advice.