Centrelink Pension Loan Scheme

About Centrelink Pension Loan Scheme

Centrelink's Pension Loan Scheme is available only to people who currently cannot get the age pension because of their income or assets, or those who are eligible only for a part pension. The scheme is a low cost loan for people willing to use their house as security for a loan and allows the borrower to take out a loan up to the value of the maximum age pension. The amount that may be borrowed will also depend on the value of the house offered as security. The loan does not have to be paid off until the client has died.