The salutary lesson to be learned from this case is that before any action is taken in respect of superannuation pension, always consider whether the pension is subject to Centrelink “pension grandfathering”.
Centrelink
Lump sum payment from PLS could assist more retirees to live at home
A simple change to the Pension Loans Scheme (PLS) would allow more retirees to adjust their homes better enabling them to live in their homes for longer.
SMSFs and self-funded retirees can access government loan scheme
Since the onset of COVID-19, Pension Boost has received a material increase in enquiry from self-funded retirees with around 10% of PLS applications being from this segment.
Which retirees can access Government Pension Loans Scheme?
Since July 2019, all retirees with sufficient equity in their property have been eligible for the Federal Government’s Pension Loans Scheme (PLS) to borrow against their home.
Specialists unlock $30 million in retirement funds for seniors
Pension Boost has achieved a 98 per cent success rate in assisting seniors to supplement their retirement income without impacting their age pension entitlements. This company is aiding [thousands] of retirees to boost their age pensions, to help them make ends meet and enjoy a better quality of life by accessing the net equity in their homes.
Federal Budget not a panacea for retirees
The expectation of action in the Federal Budget on lower taper rates for retirees who have assets/income beyond the current Age Pension limits have been frustrated.
The next two months may be last golden opportunity for LRBA
The Government is proposing the introduction of new measures that will impact all Limited Recourse Borrowing Arrangements (LRBA) entered into or after 1 July 2018.
Funding an aged care RAD with a reverse mortgage
A Refundable Accommodation Deposit (RAD) payable on entry in aged care is often a large amount of money to find in a hurry and many people think selling the family home is the only option open to them.