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
This information was printed 22 September 2020 from https://www.servicesaustralia.gov.au/individuals/services/centrelink/pension-loans-scheme/how-much-you-can-get/maximum-loan-amount/age-component-amount. 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.