Government reverse mortgage rate to be reviewed after "gouging" allegations by retirees in light of RBA official rate cuts

Treasurer Josh Frydenberg will review the government's reverse mortgage scheme to reflect Reserve Bank interest rates. 

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Retirees have accused the government of "gouging" pensioners while criticising banks for not passing on official interest rate cuts in full. 

The Treasurer says the government's 5.25 percent rate for reverse mortgages reflects the additional risk and that it is below commercial reverse mortgage rates. 

National Seniors Australia chief advocate Ian Henschke speaks with ABC's Peter Ryan