What to do before you apply
There are things you need to think about before applying for the Pension Loans Scheme.
Before you apply, you should consider:
- your current and future financial situation
- the impact of compound interest on the loan
- the repayment of the loan.
We recommend you seek independent legal or financial advice.
You should also:
- check that you meet all the eligibility rules for the Pension Loans Scheme before you start your application
- consider whether you want someone to deal with us on your behalf about the loan.
We also have tools and information to help you manage your money.
Check if you're eligible before you start your application. You can apply for a top-up of your pension as a loan if you own real estate in Australia.
Page last updated: 28 January 2020
This information was printed 13 May 2021 from https://www.servicesaustralia.gov.au/individuals/services/centrelink/pension-loans-scheme/what-do-before-you-apply. 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.