How to maximise your pension and concessions

If you are receiving the Age Pension, you should make yourself aware of all your entitlements. Depending on your circumstances, you can receive additional support and discounts that will really make a difference to your standard of living. 

The first step is having your “ducks in a row” when applying for the pension. That means having all the relevant paperwork ready to make your case—and that may require obtaining professional advice to organise your income and assets so you can maximise your pension payment. 

This may involve splitting your superannuation with your spouse and/or the rearrangement of assets as you approach retirement age. 

Depending on your circumstances, it may be that you receive a part pension rather than the full amount. But it’s also possible that you are eligible for extra payments on top of the pension, including rental assistance, energy supplement, remote area allowance, and the pension supplement (to help pay bills and medicine costs).  

You may also be entitled to carer allowance if you are responsible for the additional daily care of someone with a disability or medical condition, or an adult, including a spouse, who is frail. 

All Age Pension recipients get a Pensioner Concession Card, which entitles you to:

• Cheaper medicine under the Pharmaceutical Benefits Scheme. 

• Bulk billed doctor visits (depending on eligibility). 

• A bigger refund for medical costs when you reach the Medicare Safety Net. 

• Help with hearing services, such as the Hearing Services Program. 

• Discounts to redirect your mail through Australia Post. 

Regardless of your pension status, you may be eligible for an Australian Seniors Card, which entitles you to a range of concessions and other benefits that vary from state to state. 

For information about the Australian Seniors Card, follow the link for your state: 

• New South Wales 

• Victoria  

• Queensland  

• Western Australia 

• South Australia 

• Tasmania 

• Australian Capital Territory 

• Northern Territory 

National Seniors Australia has a concessions calculator to help you make the most of your entitlements. And, of course, National Seniors offers a range of discounts that are available to all members.  

Your pension is indexed and should rise every six months in line with the cost of living. National Seniors Australia has recently called for three-monthly reviews given the fast rate at which prices are rising. 

Veterans and their partners may qualify for a Service Pension through the Department of Veteran’s Affairs. It carries some benefits above and beyond the Age Pension.