This scheme has been around for more than 30 years yet the fact that the government will lend money to retirees at a discounted rate is still almost entirely unknown. In this article, i take a deep look at the Pension Loan Scheme or PLS for short to see what it offers to retirees; particularly those who are asset rich but cash poor. I also compare it to the reverse mortgage offerings of the big 4 banks to see how it stacks up.

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James Gerrard – Government’s Secret Loan Scheme