Rod Lavery is Technical Manager at knowIT Group.
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The Pension Loans Scheme (PLS) happens to be a service that is chronically under-utilised. A 2010 distribution from Medicare identified that, despite nearly one million Australians being entitled to utilize the PLS, just 710 loans existed. The Government announced that it planned to increase the availability of the PLS from 1 July 2019 in the 2018 Federal Budget. This modification has become legislation plus it means the PLS is present to 1.5 million more age pensioners, and establishes the PLS being a strategy that is key retirees. Continue reading