Glenn Lazarus (Queensland, Independent) Share this | Link to this | Hansard source

I, and on behalf of Senator Lambie, move:

That the Senate—

(a) notes:

(i) the Pension Loan Scheme is currently available on a voluntary basis to retirees, and has been in existence since 1985,

(ii) That the scheme is not currently available for retirees on the full rate age pension, and

(iii) the Parliamentary Budget Office has costed extending the scheme, which could unlock $2.8 billion of home equity to boost retirement incomes, at a cost of $23 million over the forward estimates, with a positive budget impact in later years; and

(b) calls on the Government to investigate extending the availability of the Pension Loan Scheme to Australians who receive the full age pension, and increasing the maximum payment rate under the scheme.

Question agreed to.

Scott Ryan (Victoria, Liberal Party, Assistant Cabinet Secretary) Share this | Link to this | Hansard source

by leave—Mr Deputy President, under the standing orders I ask that the government be recorded as being opposed to the motion.