Media Release | 23rd December, 2021Pension Loans Scheme changes in the Australian Financial Review

An article announcing the government changes to the Pension Loans Scheme has recently quoted Pension Boost CEO and Found, Paul Rogan.

The changes were officially announced on Wednesday 15 December 2021 by Social Services Minister Anne Ruston and included two key changes:

  • a rebranding of the policy to the Home Equity Access Scheme
  • a reduction in the interest rate from 4.5 per cent to 3.95 per cent

Part of the reason for the low take-up was attributed to the program’s name, said Pension Boost founder Paul Rogan.

“Renaming is good because people who are self-funded have been put off because they think they’ve got to be on the pension,” said Mr Rogan.

The changes will be in effect from 1 January 2022.

You can read the full article by clicking the button below.