Bina Brown
If you or a loved one have equity tied in property which could be used to live a better life or access care, then why not use it and let the beneficiaries sort things out after you have departed?
It is a concept that won’t sit well for some.
For others it may be the only option which is possibly why the government extended its existing Pension Loans Scheme (PLS) in this year’s federal budget to include all eligible retirees while increasing the amount you can borrow.
It cements what many have been saying for a while: that the family home, as a store of wealth, has become the fourth pillar of the retirement income system.
The government clearly recognises that even wi…
Read the full article at: http://www.afr.com/personal-finance/how-to-use-budget-pension-loan-scheme-for-aged-care-help-20180515-h102nc