Age component amount

Your age will help determine how much you can get under the Pension Loans Scheme.

If you’re partnered, we use the age of whoever is younger.

Younger than 60

Current age The age component amount
55 or younger $1,710.00
56 $1,780.00
57 $1,850.00
58 $1,920.00
59 $2,000.00

In the 60s

Current age The age component amount
60 $2,080.00
61 $2,160.00
62 $2,250.00
63 $2,340.00
64 $2,430.00
65 $2,530.00
66 $2,630.00
67 $2,740.00
68 $2,850.00
69 $2,960.00

In the 70s

Current age The age component amount
70 $3,080.00
71 $3,200.00
72 $3,330.00
73 $3,460.00
74 $3,600.00
75 $3,750.00
76 $3,900.00
77 $4,050.00
78 $4,210.00
79 $4,380.00

80 or older

Current age The age component amount
80 $4,560.00
81 $4,740.00
82 $4,930.00
83 $5,130.00
84 $5,330.00
85 $5,550.00
86 $5,770.00
87 $6,000.00
88 $6,240.00
89 $6,490.00
90 or older $6,750.00

Example of calculating the maximum loan amount

Sharon is 70 years old and single. This means her age component is $3,080. The amount she is using as security for her loan is $250,000.

To calculate her maximum loan amount, we multiply her age component by the security for her loan. This gives us $770,000,000. We divide this amount by 10,000 to get Sharon’s maximum loan amount of $77,000.

Read about how your security for the loan also impacts how much you can get.

Page last updated: 18 September 2020