Pension Boost
helped Graham

Graham’s Story

Graham (77) is a single part pensioner who owns his apartment in Mooloolaba on the Sunshine Coast in Queensland. Graham has an outstanding home loan which has impacted his ability to afford life’s little luxuries, after the loan repayments are paid from his Age Pension.

Home Value: $400,000

Home Loan: $80,000

Net Equity in Home: $320,000

Age Pension Before Pension Boost:

$20,800 per/year

Age Pension Plus Pension Boost:

$36,828 per/year

His Pension Boost

Pension Boost helped Graham apply for the Pension Loans Scheme. In his case, he could get an additional $616 per fortnight ($16,028 per year) to live on.

This would mean he would be able to afford his regular bills (including his loan repayments), and occasional trips to visit his grandkids who live interstate.

Taking inflation into account, Graham will be able to boost his pension by this amount for 13 years, when he will be 90.

The PLS is offered by the Australian Government allowing pensioners to boost their Age Pension by unlocking the equity from their properties.


You get paid fortnightly by the Australian Government


Your mortgage increases by the payment amount + interest


You only need to pay the Australian Government back when you move out of your house or sell it

Graham's Pension

After 10 years he would still own approximately 43% of his property ($232,000).

If Graham lived to 97 (20 years), he would still own approximately 23% of his home ($167,000).

Note: these numbers assume the value of Graham’s property grows by an average of 3% per year (which compares to the average residential property growth rate for houses in Mooloolaba Qld over the past 25 years of 6.7% per year).

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