What this determination does
A formal amendment determination - registered as F2026L00638 on 28 May 2026 - renames the Pension Loans Scheme and updates references to market value within that scheme. The determination was made under the Social Security Act 1991.
The Pension Loans Scheme
The Pension Loans Scheme is a government program that allows older Australians to access equity in their home as a loan from the government. This determination relates to a renaming of that scheme and an update to how market value is referenced within it. The source document does not specify what the scheme has been renamed to or the full detail of changes beyond the renaming.
Duration of this determination
The determination is in force from 28 May 2026 to 7 September 2026, after which it is repealed.
Key actions
- Check the full legislative text at https://www.legislation.gov.au/F2026L00638 to confirm the new scheme name and any updated terminology, if your business advises clients on government income support or home equity programs.
- Financial advisers, mortgage brokers, and bookkeepers who reference the Pension Loans Scheme in client documents are required to update their materials to reflect the new scheme name once confirmed from the source text.
This is a plain-English summary for information only, not legal or compliance advice. Always check the official source or consult a qualified professional.