Pension Loans Scheme

A scheme that lets older Australians get a voluntary non-taxable fortnightly loan from us. You and your partner may use this to supplement your retirement income.

You can choose the amount of loan you get fortnightly. This amount can be up to 1.5 times the maximum rate of the qualifying pension. We don’t pay this as a lump sum.

You must repay the loan and all costs and accrued interest to the Commonwealth. You can make repayments at any time.

You can ask us to stop your loan payments at any time.

Make an informed decision

There are things you need to think about before applying for the Pension Loans Scheme. These include:

  • your current and future financial situation
  • the impact of compound interest on the loan
  • the repayment of the loan.

Before applying, we recommend you seek independent legal or financial advice.

We also have tools and information to help you manage your money

Page last updated: 27 June 2019