If you’re getting Austudy 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 us if you:
- want to transfer to Age Pension, or want to stay on Austudy, and
- have any superannuation
Benefits of Age Pension
If you transfer to Age Pension:
- you may get the Pensioner Concession Card
- you may get the higher rate of payment and more generous income and assets tests
- 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
What will change
Age Pension does not have an income bank. You will lose any unused credit in your income bank if you transfer to Age Pension.
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 your separate additional payments of: