What types of pensions or allowances qualify for the Pension Advantage account?

Members receiving a Government pension or allowance such as the Department of Family and Community Services or Department of Veteran affairs can open this account.

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Are all pensions accepted?

No. Those on a defined-benefit scheme or a state superannuation pension do not qualify for the Pension Advantage account.

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Are my savings safe in a Pension Advantage account?

Yes. Your deposits with us are protected under the Australian Government Financial Claims Scheme, up to $250,000 for each account holder at the Bank. For more information read our Financial Claims Scheme FAQ.

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