Is the Pacific Engagement visa permanent, and what benefits do holders get?

The subclass 192 is a permanent visa, so you can stay in Australia indefinitely and live, work and study anywhere in the country. You become a permanent resident on the day the visa is granted (if you are in Australia) or when you first enter on the visa.

PEV holders can access Medicare, Commonwealth-supported university places, the Child Care Subsidy and Family Tax Benefit Part B. As a PEV holder you also have access to additional supports including the Higher Education Loan Program (HELP), VET Student Loans, Youth Allowance (Student and Apprentice) and Family Tax Benefit Part A. Newly arrived residents may have to wait before accessing certain payments.