Get financial support in retirement

Once you retire, there are income support payments, concessions and rebates that can help lower your living expenses.

It will be easier to plan your finances in advance if you know the types of support you may be able to claim when the time comes.

Your eligibility will depend on your situation at the time you retire or reach retirement age.

Age Pension

To get the Age Pension, you’ll need to:

  • be the qualifying age or older
  • meet income and assets tests
  • meet residency rules

The qualifying age is currently 66 years old. It is scheduled to increase to 67 in 2023.

The pension amount you receive will depend on:

  • your income
  • how much property you have 
  • if you’re single or part of a couple

If you get the Age Pension you will also automatically get the Pension Supplement. If you’re over the Age Pension age but don’t get the Age Pension, you may still be able to get the supplement.

Rent Assistance

You will automatically get Rent Assistance if you get certain income support payments, including the Age Pension, and pay either:

  • rent
  • retirement village fees
  • lodging
  • board and lodging, or
  • site or mooring fees, if your main home is a caravan, relocatable home or a boat

Concession cards

You’ll automatically get a Pensioner Concession Card from Services Australia or the Department of Veterans' Affairs if you’re over 60 and get certain income support payments, including the:

  • Age Pension
  • Service Pension
  • Income Support Supplement
  • Carer Payment, or
  • Disability Support Pension

The card gives you discounted medical care and medicine.

The Commonwealth Seniors Health Card is available if you’re the Age Pension age and unable to get an income support payment. You’ll need to meet an income test and residency rules. The concession card gives you discounts on medical care and medicine.

You can get a NSW Seniors Card or Senior Savers Card if you’re 60 years or older. Which one you get will depend on if you’re working more than 20 hours a week of paid work across a 12-month period. Both cards get you discounts and special offers at businesses across NSW.

Transport discounts

You can get discounted travel on public transport if you have either a NSW Seniors Card or a Pensioner Concession Card.

If you're a pensioner, you may be eligible for concessions on your vehicle registration.

Energy bill rebates

There are different rebates available that can help with the cost of energy bills. Your eligibility depends on the income support payment you get or the type of concession card you have.

If you get certain income support payments, including the Age Pension, you'll automatically get the Energy Supplement.

If you're an independent retiree who holds a Commonwealth Seniors Health Card, you can apply to get the Seniors Energy Rebate to help with the cost of electricity.

If you have a Pensioner Concession Card, Health Care Card or Veteran Gold Card, you may be eligible for: