Pension Boost
Our Pension Boost service simplifies access to the federal government’s Home Equity Access Scheme (HEAS).
What is the Home Equity Access Scheme?
Available to Australian homeowners of Age Pension age (currently 67 plus), the Home Equity Access Scheme (HEAS) – formerly known as the Pension Loans Scheme – is a loan issued by the Australian government.
The HEAS allows you to draw on your home equity, much like a reverse mortgage. However, unlike a reverse mortgage, it’s not a credit product and does not come with the same consumer protections.
Available to pensioners and self-funded retirees, the HEAS provides an additional fortnightly income stream or a modest lump sum payment.
Additional income
Receive up to 150% of the maximum Age Pension, less any pension received
Lump sum payment
A modest capped lump sum payment is available twice yearly
Lower than market rate
The interest rate is set by the government and is generally lower than market rates
Available all postcodes
HEAS is available to eligible Australians, wherever their home is located
How can Pension Boost help?
As specialists in managing HEAS applications and ongoing reviews, the Pension Boost team can explain how you can boost your Age Pension or other retirement funding with the Home Equity Access Scheme.
Our Pension Boost team manages the HEAS application process and removes any barriers that may arise when dealing directly with Services Australia. They will also keep you informed throughout the process of applications or ongoing reviews.
We could not thank Helen more for helping us with our HEAS application. She made all the processes clear, as well as managing our paperwork and completing our application with expert knowledge and experience of the required detail...
Application Service
What’s included?
- Personalised HEAS Report
- HEAS Specialist consultation
- Preparing your HEAS application form
- Lodging your HEAS application
- Tracking progress of your HEAS application
- Responding to Centrelink/DVA queries
- Reviewing your HEAS approval
What’s not included?
- Certificates of Title: $10 – $50 (Per title)
- Postage and Handling: $40
HEAS variations
- The Pension Boost Service charges a $330 fee for any variation of the security used for the HEAS, including discharges, revaluations and transfer. Additional Australian Government charges may apply
- The Pension Boost Service charges a $110 fee for any variation of HEAS payments