Category: Pension

The Pension Loans Scheme (PLS) is a voluntary arrangement that can be entered for either a short defined term or an indefinite period.  It is available to individuals of pension age who own property and do not currently receive the maximum benefit for a Centrelink qualifying payment.  The PLS allows eligible pensioners to increase their pension income stream to the maximum Age Pension rate of payment through a loan from the government.  The PLS is paid in regular fortnightly non-taxable instalments, and has recently gained traction as a means to unlock potential equity in Australian real estate.