How much you can get
The loan payment you can get each fortnight under the Pension Loans Scheme (PLS) depends on how much pension you get.
Your combined loan and pension payment each fortnight can’t be more than 150% (1.5 times) of your maximum pension rate.
If your pension changes, your loan payments will automatically adjust too. This is so it doesn’t go over the 150% of your pension rate or the payment rate you choose.
If you don’t get a pension you can get up to the maximum amount of PLS as a loan payment.
Choose your payment amount
You can choose to get your loan payment each fortnight at one of these 3 loan rates:
- the maximum amount which is 150% of your maximum pension rate each fortnight
- a smaller percentage
- a fixed loan amount that you choose.
We’ll automatically adjust how much loan you get whenever your pension amount changes. This will stop your payments going over the 150% cap or your chosen loan amount.
If you get a Defence Force Income Support Allowance (DFISA) it can affect your PLS payment. Your PLS payment will reduce by the amount of DFISA you get.
Use the pension loan calculator to check any of the following:
- your maximum loan amount
- what a loan might look like for you in the future.
Once your Pension Loan Scheme (PLS) loan balance reaches your maximum loan amount, your payments will stop.
You can choose the amount of the loan you get each fortnight. This amount can be up to 150% of the maximum pension payment rate you qualify for.
There are things you need to think about before applying for the Pension Loans Scheme (PLS).
Page last updated: 5 July 2021
This information was printed 20 September 2021 from https://www.servicesaustralia.gov.au/individuals/services/centrelink/pension-loans-scheme/how-much-you-can-get. It may not include all of the relevant information on this topic. Please consider any relevant site notices at https://www.servicesaustralia.gov.au/individuals/site-notices when using this material.