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.

You can get loan payments until your total loan balance, including interest and costs, reaches your maximum loan amount.

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.

Loan calculator

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.
Next: What to do before you apply

There are things you need to think about before applying for the Pension Loans Scheme (PLS).

Page last updated: 5 July 2021