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.

What to tell us

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
  • 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.

You must also tell us if your circumstances change, like if you:

  • become partnered, separate from your partner or your partner passes away
  • change your contact details or your residential or postal address
  • leave the country, temporarily or to live somewhere else.

You need to tell us about a change in your circumstances within 14 days. If you don’t, 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.

How to tell us

You can tell us about a change to your circumstances using one of these self service options:

Read more about what you can do using self service.

If you don’t have access to a self service option please call the older Australians line.

Page last updated: 16 December 2019