Pension Loans Scheme

A voluntary reverse equity mortgage that offers older Australians an income stream to supplement their retirement income.

Eligibility & payment rates

About the scheme

You can apply for a non-taxable loan if you need extra income or help for a short time or an indefinite period.

Read more about the Pension Loans Scheme

Who can get it

You may be able to apply for a payment under the Pension Loans Scheme if you meet certain requirements.

Read more about who can get a loan

Costs and interest rate

You must pay any costs associated with setting up a loan under the Pension Loans Scheme.

Read more about costs and interest rates

Repay the loan

You can repay the loan you get under the Pension Loans Scheme in part or full at any time.

Read more about repaying the loan

How much you get

The amount you get each fortnight can be up to the maximum rate of income support payment you qualify for.

Read more about how much you can lend

Security of the loan

You can get a loan up to the maximum rate of income support payment you qualify for, under the Pension Loans Scheme.

Read more about security of the loan


Check if you’re eligible before you start your claim.


  • find out what you need
  • fill in your claim form
  • meet with a Financial Information Service officer
  • submit your claim form and the other documents we ask for
  • we will assess your claim and let you know the outcome


Managing your payment

Change of circumstances

You must tell us if your circumstances change when you have a loan under the Pension Loans Scheme.

Read more about change of circumstances

My bank account is overdrawn

You can get help to manage your money if your bank account is overdrawn.

Read more about what to do if your account is overdrawn


Make an informed decision

We offer a free financial information service to help you with your decision.

Read more about making an informed decision

Payment and Service Finder

Find, estimate and compare payments and services you may be eligible for. You can also work out what a change in circumstance might mean for the payments and services you currently receive from us.

Start using Payment and Service Finder

Manage your money


We’ve got advice and tools to help you with budgeting, borrowing and credit, and managing debt.

Read about how to manage your money

Related payments and services

Page last updated: 5 October 2017