Louise (80) lost her husband five years ago and has been living in the apartment she owns in Brisbane alone ever since.
She is currently on the full Age Pension but still struggles to meet her regular living costs. Due to her ill health she needs the extra assistance and is considering the Pension Loans Scheme (PLS) to help fund in-home care services.
We estimate that Louise can draw the maximum PLS payment (CPI adjusted) for 25 years. This would give Louise an additional $12,577 per year to help with the in-home care service payments.
After 10 years on the PLS, she would still own approximately 75% of her property ($528,000)*. After 20 years, at age 100, Louise would still own approximately 47% which, due to growth in the property market would be $444,000.
Please note, all rates and data are as at 20th September 2021.
Pension Boost will take the hard work out of applying for the PLS so that Lousie can get the in-home care she needs.
Use our Pension Loans Scheme calculator to find out how much you may be able to increase your cashflow by.START CALCULATOR *These numbers assume the value of Lousie’s property grows by an average of 3% per year.