Budget to extend state reverse mortgage scheme

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By Leith van Onselen

The Australia Institute (TAI) reports that tonight’s Federal Budget is likely to expand the Pension Loan Scheme (PLS) to allow all retirees to obtain a state run reverse mortgage:

Reported moves to expanded the under-utilised Pension Loan Scheme (PLS) to allow pensioners access to the scheme would be a welcome budget breakthrough.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.