Who can get it

You must meet all of the following. You:

• or your partner are Age Pension age
• get or are eligible to get a qualifying pension
• own, or your partner owns, real estate in Australia that you can use as security for the loan
• have adequate and appropriate insurance covering the real estate offered as security
• aren't bankrupt or subject to a personal insolvency agreement.

You’ll also need to agree to the terms and conditions of the PLS to get a loan.

Your age and how much equity you own in Australian real estate will determine how much you can get.

If you get a payment under the asset hardship provisions, you can’t get a loan under the Pension Loans Scheme. You can still submit a claim for the PLS. If your claim is successful, you’ll need to decide which payment is best for you.