The Age Pension is a government-funded retirement income support payment for older Australians, available to those who have reached the qualifying age (currently 67) and meet residency and means-test requirements . It is designed as a safety net to ensure a basic standard of living for retirees who may not have sufficient superannuation or private savings, with eligibility subject to income and asset tests . The Age Pension is administered through Services Australia (Centrelink) and is separate from any employer-provided retirement benefits. In HR and compliance terms, understanding the Age Pension is important for workforce planning and retirement counseling, as it forms a pillar of Australia’s retirement system alongside compulsory superannuation – employers often consider its impact when assisting employees transitioning to retirement.
