To help pensioners who are rich in assets but poor in income, the government launched a version of a commercially available financial product, the reverse mortgage.
Thee government’s answer for pensioners who find themselves in the above situation is its pension loans scheme (PLS), whereby a pensioner can apply for a non- taxable loan using some form of real property as security. The PLS does not provide a lump sum, but a regular fortnightly payment. Readmore
