New costings from the Parliamentary Budget Office (PBO) show the government could help retirees boost their own incomes at nearly no cost to the budget by making the Pension Loans Scheme to available to all who wish to use it to have a comfortable retirement while living in their own homes.

Costings requested by Senator Lambie and released today show expanding the PLS could help retirees unlock more than $2.8 billion to boost their retirement incomes at a cost to the budget of only $23 million over the estimates period. While there are small upfront costs, the scheme has a positive budget impact in later years.