The Age Pension assets test includes more than just money in the bank or your super; it also includes other things you own like your home contents, car, or caravan.
Here are the limits for assets as at September 2023:
If you get a full Age Pension
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A single person can have up to $301,750 in assets if you own your home, or $543,750 if you don't own a home, before your pension reduces.
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A couple on a full pension can have up to $451,500 for homeowners, or $693,500 for non-homeowners.
If you get a part pension
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You’ll lose your pension if you’re single and your assets are over $667,500 (homeowner) or $909,500 (don't own a home).
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Couples on a part pension will lose their pension if their assets are over $1,003,000 (homeowners) or $1,245,000 (don't own a home).
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Limits are higher for couples who are living apart due to illness.