Minister Ruston - Pension Loan Scheme

28 October 2020

Dear Minister Ruston

I have received an enquiry from a Canberra constituent in relation to the Pension Loan Scheme (PLS).

This constituent asks why the rate of interest for the PLS is at 4.5 per cent when the cash rate is at a record low of 0.25 per cent?

The constituent has asked that you review this interest rate as a matter of urgency to make it fairer for pensioners.

The constituent requested they remain anonymous, so if you are able to send me a response I will forward it to them on your behalf.


Yours sincerely


Alicia Payne

Member for Canberra