# 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.