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CONSUMER & MORTGAGE / FINANCE SOLUTIONS
Pension loan scheme
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Pension Loan Scheme
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If you choose a fortnightly repayment schedule, you can choose how much you repay. You cannot combine your pension and loan payments more than 1.5 times the maximum fortnightly pension rate.
Over time, you can borrow only a certain amount of money. The amount of the loan depends on your age and how much you offer as security. Pension Loans are not paid as a lump sum.
For more information about the Pension Loans Scheme, visit Services Australia or the Department of Veterans’ Affairs.