Protect seniors - make the interest rate on the Pension Loans Scheme fair and transparent

Reasons for signing

See why other supporters are signing, why this petition is important to them, and share your reason for signing (this will mean a lot to the starter of the petition).

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Elizabeth van Ekert
Dec 19, 2021
The 4.5% rate is way out of what is reasonable given current rates elsewhere. The scheme is a good idea for those with limited options, especially as not all boomers are floating in a sea of cash as is frequently conveyed. But it exploits this vulnerability by unfairly charging excessive rates.

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Bilyana De Soto
Dec 19, 2021
I think the scheme is a great government initiative but it needs to be genuinely targeting the pensioners with a lower than the market interest rates in view of the fact of its target market.

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John Taylor
Dec 19, 2021
The interest rate should be less than the best rate from a bank.
Typical LNP government bastardry.

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Lorraine Withers
Dec 19, 2021
It’s a fairer way to keep this scheme for all participants.

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Daphne Sinnadurai
Dec 19, 2021
We all get old one day soon.

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stephan Swansson
Dec 19, 2021
If I was to borrow against our home I would like to be paying a reasonable interest rate that is affordable by most Australian seniors

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Glenda McDonnell
Dec 19, 2021
The interest rate should be set at the cash rate, plus Admin fees, the Federal Government shouldn't be profiting from making people borrow into their home equity, because current pension payment rates are inadequate !

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Beth LAWRIE
Dec 19, 2021
Many events in life are unpredictable and unpreventable. Loans are necessary. Be up front and clear and keep interest rates extremely low PLEASE!

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Tammy Roach
Dec 19, 2021
Seniors deserve a fair go after working their whole life.

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Robyn Fleming
Dec 18, 2021
I'm signing because I think the interest rate is much to high