Change of circumstances

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

You must tell us about changes in case they impact your loan.

You must tell us if you:

  • or any co-owner of secured real estate become bankrupt or subject to a personal insolvency agreement
  • intend to change the title details or dispose of any secured real estate
  • take out, or change the details of, a mortgage on any secured real estate
  • intend to use the secured real estate to guarantee a loan taken by yourself or another person
  • allow the insured value of secured real estate to fall below the market value of all buildings on that real estate
  • become partnered, separate from your partner or your partner passes away
  • change your residential or postal address
  • close, change, or can no longer use the account your payments are sent to
  • are sent to prison or charged with an offence and are in custody on remand.

How and when to tell us

The easiest way to tell us about changes affecting your loan is by calling us on the Older Australians line. You need to tell us within 14 days. However, it’s never too late to report a change.

Make sure your details are current in myGov.

If you don’t tell us when changes happen, you may be doing the wrong thing.

We may pay you too much. Your loan payments may also stop if you don’t tell us about changes. If this happens, call us on the Older Australians line.

If you don’t tell us about changes on purpose, you could be committing fraud.

Read about how to avoid committing fraud.

Page last updated: 27 June 2019