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Administration of the Age Pension
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This audit would assess the effectiveness of the Department of Social Services’ (DSS’) and Services Australia’s administration of the Age Pension.
The Age Pension provides income support to senior Australians subject to age, residency requirements and income and asset tests. DSS is responsible for Age Pension policy and Services Australia provides Age Pension payments to eligible recipients on DSS’ behalf. In 2021–22, $51.1 billion was paid to 2,557,691 eligible Age Pension recipients, representing approximately 42 per cent of DSS’ personal benefit expenses during 2021–22. The progressive increase of the eligibility age from 65 to 67 will be completed by 1 July 2023. Changes were introduced to the pension income test in December 2022, known as the Work Bonus, to encourage older Australians to remain in the workforce.