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:
- get the Pensioner Education Supplement if you're single and study
- get the Education Entry Payment if you study
- have a more generous income test if you're single
- access participation support services
- get the Jobs, Education and Training Child Care fee assistance
- get the higher rate of Mobility Allowance
Read more about how to transfer to Age Pension
Once you reach age pension age, we will automatically pay the Pension Supplement to you with your regular fortnightly payment. The supplement replaces: