{"id":"F2018L01632","name":"Social Security (Pension Loans Scheme—Rate of Compound Interest) Determination 2018","slug":"social-security-pension-loans-scheme-rate-of-compound-interest-determination-2018","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":439850,"registerId":"F2018L01632-fast-fetch-1775955714979","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Social Security (Pension Loans Scheme—Rate of Compound Interest) Determination 2018","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—Rate of Compound Interest) Determination 2018\n\nI, Paul Fletcher, Minister for Families and Social Services, make the following Determination.\n\nDated 25 November 2018\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  Schedules\n\n5  Rate of compound interest\n\nSchedule 1—Repeals\n\nPension Loans Scheme (Social Security)-Rate of Compound Interest Determination No. 2 of 1997\n\n \n\n1  Name\n\n  This instrument is the Social Security (Pension Loans Scheme—Rate of Compound Interest) Determination 2018.\n\n2  Commencement\n\n  This instrument commences on the day after it is registered.\n\n3  Authority\n\n  This instrument is made under subsection 1135(4) of the Social Security Act 1991.\n\n4  Schedules\n\n  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.\n\n5  Rate of compound interest\n\n  For the purposes of subsection 1135(4) of the Social Security Act 1991, the rate of compound interest is 5.25 per cent per annum.\n\n\n\n\nSchedule 1—Repeals\n\nPension Loans Scheme (Social Security)-Rate of Compound Interest Determination No. 2 of 1997\n\n1  The whole of the instrument\n\nRepeal the instrument.\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1710},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This determination maintains the exact same scope as the instrument it replaces—setting the numerical interest rate for the Pension Loans Scheme. It updates the rate from the previous 1997 determination but does not expand the scheme's coverage, alter eligibility, or change how the interest is applied."},"complexity_factors":["Single substantive provision (section 5) containing only one numerical value","No defined terms or interpretation section requiring legal analysis","Minimal cross-referencing (only citation of the enabling Act provision)","Straightforward repeal of a single previous instrument in Schedule 1","Total length of only 5 sections plus one schedule"],"plain_english_summary":"This instrument sets the annual compound interest rate for government Pension Loans Scheme (PLS) loans at 5.25%, replacing the prior 1997 determination. It affects older Australians using the PLS and current borrowers, determining how quickly their loan balances grow and therefore how much home equity remains for them or their estate."}},"importantCases":[],"_links":{"self":"/api/acts/social-security-pension-loans-scheme-rate-of-compound-interest-determination-2018","history":"/api/acts/social-security-pension-loans-scheme-rate-of-compound-interest-determination-2018/history","analysis":"/api/acts/social-security-pension-loans-scheme-rate-of-compound-interest-determination-2018/analysis","conflicts":"/api/acts/social-security-pension-loans-scheme-rate-of-compound-interest-determination-2018/conflicts","importantCases":"/api/acts/social-security-pension-loans-scheme-rate-of-compound-interest-determination-2018/important-cases","documents":"/api/acts/social-security-pension-loans-scheme-rate-of-compound-interest-determination-2018/documents"}}