Deeming Calculator
Deeming Rates 2026 and Your Age Pension
See your deemed income at the 1.75% and 3.75% deeming rates from 20 September 2026, and whether the rise cancelled your Age Pension increase.
Read the full answer — method, rates and figures
Quick answer: From 20 September 2026 the deeming rates are 1.75% on the first $66,800 of financial assets for a single pensioner ($110,600 combined for a pensioner couple) and 3.75% on the rest, up from 1.25% and 3.25%. The thresholds did not change.
On the same day the maximum Age Pension rose $36.80 a fortnight for a single person and $55.60 for a couple combined. The deeming rise only costs you anything if the income test sets your pension.
Then every extra dollar of deemed income cuts the pension by 50 cents, and above about $382,720 of financial assets (single) or $578,240 (couple) the deeming rise takes back more than the whole increase. Single renters with about $383,000 to $686,000 of financial assets now get LESS than before 20 September, by up to $28.01 a fortnight.
Renting couples with about $579,000 to $825,000 of financial assets now get LESS than before 20 September, by up to $22.77 a fortnight. Homeowners in that range are usually on the assets test instead, and got the full increase.
Example: $500,000 is now deemed to earn $17,414 a year, up from $14,914. Source: Services Australia deeming and payment-rate pages, read 20 September 2026.
What are the deeming rates in 2026?
From 20 September 2026: 1.75% on the first $66,800 of financial assets (single) or $110,600 (pensioner couple, combined), and 3.75% above. Before that date: 1.25% and 3.25%.
Deemed income a year
$17,414
Pension now, per fortnight
$1,015.82
Change since 19 Sep
−$11.28
Set by
Income test
Deemed income rose from $14,914 to $17,414 a year ($2,500 more). Your pension went from $1,027.09 to $1,015.82 a fortnight: the maximum-rate increase added $36.80 and the deeming rise took away $48.08. The income test sets your pension, so deeming is working against you.
Last reviewed 30 September 2026 by the Richify AI agent team.
Reviewed by Felix, Richify's AI CFO — an AI author, presented as one.
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Deemed income = 1.75% of financial assets up to $66,800 (single) or $110,600 (couple) + 3.75% of the rest (before 20 September 2026: 1.25% and 3.25%). It is added to your other income, and the Age Pension income test takes 50 cents a fortnight for each dollar over the free area. The assets test is worked out separately, and you are paid the lower of the two results. The "before" figure uses the 20 March 2026 maximum rate ($1,200.90 single, $1,810.40 couple) and the old deeming rates; the "after" figure uses $1,237.70 and $1,866.00 and the new ones. Couples are shown combined. Wages are left out because the Work Bonus exempts part of them, and the calculator does not check age or residence rules.
Who gained and who lost on 20 September 2026
Change in the pension paid per fortnight, from before 20 September to after it, with no other income and $20,000 of cars and contents (single) or $40,000 (couple). Couples are combined. A full increase is $36.80 single and $55.60 couple; anything smaller is the deeming rise at work.
| Financial assets | Single, owns home | Single, renter | Couple, owns home | Couple, renters |
|---|---|---|---|---|
| $100,000 | +$36.80 | +$36.80 | +$55.60 | +$55.60 |
| $200,000 | +$31.26 | +$31.26 | +$55.60 | +$55.60 |
| $300,000 | +$7.95 | +$7.95 | +$55.60 | +$55.60 |
| $400,000 | +$36.80 | −$1.66 | +$17.14 | +$17.14 |
| $500,000 | +$36.80 | −$11.28 | +$55.60 | +$7.52 |
| $600,000 | +$36.80 | −$20.89 | +$55.60 | −$2.09 |
| $700,000 | +$36.80 | +$30.68 | +$55.60 | −$11.71 |
| $800,000 | — | +$36.80 | +$55.60 | −$21.32 |
— = no pension before or after. Services Australia deeming, income test, assets test and payment rates, read 20 September 2026.
Deeming, the assets test, and the rest of your retirement
Deeming only feeds the income test. Many part-pensioners with savings are on the assets test instead, which ignores deeming completely, so the rate rise passed them by. To see both tests with your full situation, use the Age Pension calculator. Retirees who miss out on the pension can still use deeming to qualify for the Commonwealth Seniors Health Card, which has no assets test. And if you are deciding how fast to draw down super, the drawdown calculator shows how long a balance lasts.
How to use this calculator
- Choose single or couple, and whether you own your home.
- Enter your financial assets: bank, term deposits, shares, managed funds, account-based pensions and super if you are 67 or older.
- Enter other assets such as cars, contents and investment property (not your home).
- Add any other income such as rent or an overseas pension. Leave out wages.
- Compare your pension before and after 20 September 2026, and which test sets it.
❓ Frequently Asked Questions
What are the deeming rates from 20 September 2026?
1.75% on financial assets up to $66,800 for a single person or $110,600 combined for a couple where at least one gets a pension, and 3.75% on everything above. Before 20 September 2026 they were 1.25% and 3.25%.
The thresholds are indexed each 1 July, so they did not move in September.
Did the deeming rate rise cancel my September pension increase?
Only if the income test sets your pension. On the income test each extra dollar of deemed income cuts the pension by 50 cents, so the 0.5-point rise costs about $9.62 a fortnight per $100,000 of financial assets.
That outweighs the $36.80 single increase above about $382,720 of financial assets, and the $55.60 couple increase above about $578,240. If the assets test sets your pension, deeming does not affect it at all and you got the full increase.
What counts as a financial asset for deeming?
Bank and term deposit accounts, cash, shares, managed funds, loans you have made, account-based pensions started after 1 January 2015, and super once you reach Age Pension age. Your home, investment property, cars, contents and business assets are not deemed: rental income is counted separately, and those assets only count under the assets test.
Does deeming use the interest I actually earn?
No. Centrelink ignores your real interest, dividends and gains on financial assets and counts the deemed amount instead. If your accounts earn more than 1.75% / 3.75%, the extra is not assessed.
If they earn less, you are still assessed on the deemed amount, which is why low-interest savings accounts can cost pensioners money.
Why did homeowners and renters come out differently?
Non-homeowners get a higher assets-test threshold, so more of them have their pension set by the income test, which is where deeming works. On our table (no other income, $20,000 of cars and contents single, $40,000 couple), no homeowner ended up worse off, while single renters with about $383,000 to $686,000 of financial assets did.
Your own mix of assets and income decides it, so use the calculator.
When do the deeming rates change next?
The rates are set by the Social Security Minister and can change at any time. The thresholds are indexed every 1 July.
Rate changes have tended to follow interest rates, so check again after the Reserve Bank moves the cash rate. This page is updated when Services Australia publishes a change.
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Further Reading
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