If I get a Reverse Mortgage, do I have to take the whole amount up-front, or can I set it up like a monthly pension?

Reverse Mortgages are so flexible that you can take the full loan amount as a 'lump sum', or you can draw the loan down in small stages, i.e. monthly, fortnightly, or quarterly. Many clients set up the loan drawdowns to be like a pension-type payment. This can supplement your existing pension, or any superannuation drawdowns.