Janet's Story
Janet (73) is a single self funded retiree who owns her apartment in Melbourne.
She is finding that her conservatively managed superannuation portfolio and term deposits aren't providing the yields she used to receive which is placing strain on her lifestyle.
She is interested in drawing on the HEAS for a few years until cash rates improve to preserve her superannuation as much as she can.
- Owns her Melbourne apartment valued at $1,000,000
- Currently receiving $0 in Aged Pension payments a year.
- Looking to draw on the HEAS to help preserve her superannuation.
Her Pension Boost
-
Now
100%$1,000,000 -
5 Years
85% 15%$984,424 -
10 Years
84% 16%$1,130,920 -
20 Years
83% 17%$1,490,037
- Home Equity
- Loans (including HEAS)
- Value of Net Equity
Janet is eligible to draw a maximum HEAS payment of $41,496 per year however she decides to take $30,000 a year for 5 years while the markets recover.
Assuming Janet didn’t draw down on her super to repay the HEAS, in 10 years time she would still own approximately 84% of her property ($1.130 million)* and after 20 years approximately 82% ($1.490 million)*.
Please note, all rates and data are as at 20 March 2023.
-
Age Pension Before Pension Boost:
NIL per/year -
Age Pension With Pension Boost:
$30,000 per/year
Pension Boost will take the hard work out of applying for the HEAS so that Janet can live her her current lifestyle stress free.
Use our Home Equity Access Scheme calculator to find out how much you may be able to increase your cashflow by.
START CALCULATOR *These numbers assume the value of Janet’s property grows by an average of 3% per year and the HEAS interest rate is 3.95% pa.