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 us both of the following:
- if you want to transfer to Age Pension, or want to stay on Parenting Payment
- if you have any superannuation.
What won’t change
If you're a single parent, your concession card won’t change if you transfer to Age Pension.
What the benefits of each payment are
If you transfer to Age Pension:
- you’ll get a higher payment rate and a higher limit assets test
- and you have a partner, you’ll also get a a higher limit income test and get the Pensioner Concession Card
- the rules may be better if you travel outside Australia
- you can get the Work Bonus
- we can exempt more land from the assets test if your land has a single title more than 2 hectares.
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 Child Care Subsidy
- get the Additional Child Care Subsidy
- get the higher rate of Mobility Allowance.
Read more about how to transfer to Age Pension.
Once you reach age pension age, we'll automatically pay the Pension Supplement to you with your regular fortnightly payment. The supplement replaces all of the following: