Parenting Payment when you reach age pension age

If you’re getting Parenting Payment and reach age pension age, you can transfer to Age Pension.

When you reach age pension age

Just before you reach age pension age, we’ll invite you to transfer to Age Pension.

You’ll need to tell is if you:

  • want to transfer to Age Pension, or want to stay on Parenting Payment, and
  • have any superannuation

What won’t change

If you're a single parent, the concession card is the same whether you remain on Parenting Payment or transfer to Age Pension.

Benefits of each payment

If you transfer to Age Pension:

  • you’ll get a higher payment rate and more generous assets test
  • if you’re partnered, you’ll also get a more generous income test and get the Pensioner Concession Card
  • the rules may be better if you travel outside Australia
  • you can get the Work Bonus, and
  • and live on a single title of land covering more than 2 hectares, we can exempt more land from the assets test

If you stay on Parenting Payment, you may:

Read more about how to transfer to Age Pension

Pension Supplement

Once you reach age pension age, we will automatically pay the Pension Supplement to you with your regular fortnightly payment. The supplement replaces:

Page last updated: 28 February 2017

This information was printed Monday 24 April 2017 from humanservices.gov.au/customer/enablers/parenting-payment-when-you-reach-age-pension-age It may not include all of the relevant information on this topic. Please consider any relevant site notices at humanservices.gov.au/siteinformation when using this material.