Maximising Your Age Pension: Key Updates and Strategies for 2026
As the cost of living continues to rise, ensuring you receive the full Age Pension you’re entitled to is more important than ever. Recent data from the Australian Bureau of Statistics (ABS) suggests that the September pension indexation could see a welcome increase. National Seniors Australia estimates a rise of $55.60 for a combined couple and $36.00 for a single person. This adjustment, driven by inflation and wage growth, aims to help pensioners keep pace with everyday expenses.
However, the path to the pension is not without its challenges. In 2023, the pension age was lifted from 65 to 67, a change that has sparked debate. For many, particularly those in physically demanding jobs, working until 67 is a significant hurdle. As workplace specialist Professor Gary Martin notes, “For some, 67 is an achievable and even desirable pension age,” but for manual workers, it can be a physical struggle. This disparity highlights the need for careful retirement planning and consideration of alternative income sources.
In other news, the government has recently adjusted the deeming rates used to assess pension eligibility. This move is seen as a step towards normalising rules that were relaxed during the COVID-19 pandemic. Deeming rates affect how much income the government assumes you earn from your financial assets, which in turn impacts your pension amount. Staying informed about these changes is crucial, as they can significantly affect your entitlements.
Beyond the pension, it’s never too late to build wealth. Experts suggest that even in your 40s, 50s, and beyond, strategic investments and superannuation contributions can bolster your retirement savings. Whether you’re just starting to plan or looking to maximise your existing pension, understanding the latest news and rules is key to a secure and comfortable retirement.
Shimanta Das 
