Lump sum advance payments are now allowed under the Federal Government’s Home Equity Access Scheme (HEAS). This change will increase flexibility and utility for participants by providing a new way to use the scheme to meet their living expenses.
retirees
Pension Boost reaches $100m in HEAS approvals, announces capital raise
Pension Boost, which is the leading independent specialist assisting retirees to benefit from the Home Equity Access Scheme (HEAS), has reached a key milestone of $100 million in HEAS approvals.
Pension Boost has $75m in Pension Loans Scheme approvals
Pension Boost, the leading independent specialist providing assistance to retirees applying for the government’s Pension Loans Scheme (PLS), recently passed $75 million in loan approvals milestone.
Regional house price rises help retirees
Higher house prices enable retirees to boost their income in retirement under the government’s Pension Loans Scheme (PLS) avoiding the need to downsize.
Single women find ways to bridge super gender gap
Single retired women make more use of the government’s reverse mortgage scheme than their male counterparts. More women are boosting to their income in retirement this way in the face of lower superannuation balances compared to men.
Pension Boost drives $50m in Pension Loans Scheme approvals
Since 2019, Pension Boost has been assisting retirees access the government backed Pension Loans Scheme – a form of reverse mortgage. Pension Boost has now assisted seniors access more than $50 million in PLS loans to help them live a better life.
Many retirees still have mortgages – keeping the bank at bay
An interesting statistic is that 40% of retirees approaching Pension Boost to assist with Pension Loans Scheme (PLS) applications still have mortgages. Retired couples applying for PLS with pre-existing debt were servicing median mortgage amounts of $158,000 at a median age of 72 years.
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.