{"id":"F2019L00420","name":"Social Security (Pension Loans Scheme – Age Component Amount) Determination 2019","slug":"social-security-pension-loans-scheme-age-component-amount-determination-2019","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":439998,"registerId":"F2019L00420-fast-fetch-1775955801245","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Social Security (Pension Loans Scheme – Age Component Amount) Determination 2019","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![Commonwealth Coat of Arms of Australia](image.001.jpeg)\n\n \n\nSocial Security (Pension Loans Scheme – Age Component Amount) Determination 2019\n\nI, Paul Fletcher, Minister for Families and Social Services, make the following instrument.\n\nDated 16 March 2019\n\nPaul Fletcher\n\nMinister for Families and Social Services\n\n \n\n \n\n \n\nContents\n\n1  Name\n\n2  Commencement\n\n3  Authority\n\n4  Age component amount\n\n \n\n \n\n1  Name\n\n  This instrument is the Social Security (Pension Loans Scheme – Age Component Amount) Determination 2019.\n\n2  Commencement\n\n (1)   Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.\n\n \n\n- Commencement information\n- Column 1 Column 2 Column 3\n- Provisions Commencement Date/Details\n- 1. The whole of this instrument 1 July 2019 1 July 2019\n\n\nNote:              This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.\n\n             (2)   Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.\n\n3  Authority\n\n  This instrument is made under subsection 1135A(3) of the Social Security Act 1991.\n\n4  Age component amount\n\n1.   The age component amount is determined to be the amount specified in column 2 of the Table in subsection (2), in relation to:                    \n\n\n(a) if the person is not a member of a couple--the age specified in column 1 that the person turned on his or her last birthday; or\n\n(b) if the person is a member of a couple--the age specified in column 1 that the younger member of the couple turned on his or her last birthday.\n\nNote:              Subsection 52ZCA(1) of the Veterans’ Entitlements Act 1986 provides that a person’s age component amount is ‘the amount that is specified in a determination under subsection 1135A(3) of the Social Security Act 1991’.\n\n1.    The following is the Table referred to in [subsection](http://www8.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ssa1991186/s1135a.html#subsection) (1):\n\n\n \n\n- Age component amount table\n- Column 1Age Column 2Age component amount Column 1Age Column 2Age component amount\n- 55, and each earlier year $1,710.00 75 $3,750.00\n- 56 $1,780.00 76 $3,900.00\n- 57 $1,850.00 77 $4,050.00\n- 58 $1,920.00 78 $4,210.00\n- 59 $2,000.00 79 $4,380.00\n- 60 $2,080.00 80 $4,560.00\n- 61 $2,160.00 81 $4,740.00\n- 62 $2,250.00 82 $4,930.00\n- 63 $2,340.00 83 $5,130.00\n- 64 $2,430.00 84 $5,330.00\n- 65 $2,530.00 85 $5,550.00\n- 66 $2,630.00 86 $5,770.00\n- 67 $2,740.00 87 $6,000.00\n- 68 $2,850.00 88 $6,240.00\n- 69 $2,960.00 89 $6,490.00\n- 70 $3,080.00 90, and each later year $6,750.00\n- 71 $3,200.00\n- 72 $3,330.00\n- 73 $3,460.00\n- 74 $3,600.00\n\n\n \n\n \n","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument does not change the statutory scope of the Pension Loans Scheme or veteran entitlements; it only specifies the dollar amounts for the age component used under those laws (s3, s4, note). It does not alter eligibility, payment mechanics, or other Act provisions."},"complexity_factors":["Simple numerical schedule: a fixed table of dollar amounts by age (s4 table).","Narrow legal task: instrument only specifies amounts; no new eligibility rules or procedures (s4).","Statutory authority: made under subsection 1135A(3) of the Social Security Act — ministerial determination required (s3).","Cross-reference to other law: Veterans’ Entitlements Act references this determination for its age component (note to s4), creating dependency on this instrument.","Administrative detail: explicit commencement date (1 July 2019) but no implementation steps or transitional rules (s2)."],"plain_english_summary":"This instrument sets the dollar amounts for the “age component” used in the Pension Loans Scheme: a fixed table of payments keyed to age (55 and older). It applies to single people and to the younger member of a couple (s4) and commenced 1 July 2019 (s2). The Minister made the determination under subsection 1135A(3) of the Social Security Act (s3); the Veterans’ Entitlements Act also uses this determination for its age component (note to s4)."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the narrow technical function it was designed for: specifying the age component amounts for the Pension Loans Scheme. It has not expanded beyond its original purpose of setting these specific dollar figures."},"complexity_factors":["Only 4 sections total, with section 4 containing the substantive content","Single operative provision with a straightforward lookup table","No defined terms section - relies on definitions in the parent Social Security Act 1991","Only one cross-reference (to the Veterans' Entitlements Act 1986 in a note)","Simple conditional logic (single vs couple status, age lookup)","No exceptions, exemptions, or nested conditions"],"plain_english_summary":"This instrument sets the age-based dollar amounts used to calculate how much older Australians can borrow under the Pension Loans Scheme (now Home Equity Access Scheme). The table’s \"age component amounts\" rise with age—so older borrowers can access larger loans—and for couples the younger partner’s age is used.\n\nIt directly determines borrowers’ loan/income entitlements, is periodically indexed, and applies to eligible pensioner homeowners using their home as security."}},"importantCases":[],"_links":{"self":"/api/acts/social-security-pension-loans-scheme-age-component-amount-determination-2019","history":"/api/acts/social-security-pension-loans-scheme-age-component-amount-determination-2019/history","analysis":"/api/acts/social-security-pension-loans-scheme-age-component-amount-determination-2019/analysis","conflicts":"/api/acts/social-security-pension-loans-scheme-age-component-amount-determination-2019/conflicts","importantCases":"/api/acts/social-security-pension-loans-scheme-age-component-amount-determination-2019/important-cases","documents":"/api/acts/social-security-pension-loans-scheme-age-component-amount-determination-2019/documents"}}