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Picture Book · Age Pension

Deeming

Story pages

A man in his early seventies feeding ducks at a park pond
Meet Stan. He's 73 and has money in the bank and some shares.
A sundial in a garden bed casting a clear shadow
Instead of using what his investments actually earn, Services Australia uses a set rate. This is called deeming.
A short row of small potted succulents on a step
For a single person, the first $66,800 is deemed to earn 1.75% a year.
A taller row of potted plants on a higher step
Anything above that is deemed to earn 3.75% (as at 27 October 2026).
A small apple tree with a few extra apples on the grass beneath it
If his investments earn more than the deemed rate, the extra doesn't count as income.
A man in his early seventies sitting on a park bench with a cup of tea
Stan knows the rates can change, so he checks his payment when they do.

The end

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General advice warning. This picture book is general information only. It does not take into account your objectives, financial situation or needs, and it is not personal advice. Rules and thresholds change. Before acting, consider whether it is right for you, read any relevant Product Disclosure Statement and our Financial Services Guide, and seek personal advice. Past performance is not a reliable indicator of future performance.

Information as at 27 October 2026. Sources:

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