Australia

Region

Australia has a social pension.

Older people demographics

  • 6.1 m

    Population aged 60+

    Total number of persons aged 60 years and older in the country/territory

  • 23.1 %

    Percentage of total population aged 60+

    Percentage of the total population that is aged 60 years and older

  • 29.9 %

    Percentage of total population aged 60+ in 2050

    Percentage of the total population projected to be aged 60 years and older in 2050

Pension coverage

  • 49.5 %

    Total coverage of pension system

    Percentage of people aged 60 years and older who receive any old age pension (all types)

  • 3.9 %

    Contributory pension coverage

    Percentage of people aged 60 years and older who receive a contributory old age pension

  • 45.5 %

    Social pension coverage

    Percentage of people aged 60 years and older who receive a tax-financed old age social pension

How is the social pension designed?

Scheme Age Pension
Social pension name in local language Age Pension
Type Universal or near-universal
Eligibility age 67 for men and women
Monthly transfer amount in local currency: 2,192 Australian Dollar
Monthly transfer amount as a percentage of per capita GDP: 26.69%
Monthly transfer amount as a percentage of relevant World Bank poverty line: 175.4%