If you are entitled to a pension from Centrelink or Department of Veterans Affairs (DVA), then receiving that Pension will help to cover the costs of Age Care and as a consequence, will use less of your own money, therefore leaving more in your estate for your family.
NB The biggest pension entitlement will NOT always be the best way to go
When one or both members of a couple enter an aged care facility, they will both be classified as “separated due to ill health” and as a consequence will be paid at the SINGLE rate of pension by Centrelink or DVA (instead of the couple rate of pension, so the pension entitlement is likely to increase.
Frequently, we see people who aren’t currently getting a means tested pension, who will be entitled to a means tested pension AFTER they enter an Aged Care facility, so an issue that many people need to keep in mind is that, IF they use some of their assets to pay an Accommodation Bond as a lump sum, then some of the lost income (from using investments to pay a lump sum bond) may be replaced by an increase in the Age Pension, so that Aged Care may be more affordable than many people think.
You don’t need to be totally blind to be “legally” blind, we help many people obtain the “blind” category of Pension from either Centrelink or DVA, when nobody had ever told them it was available. A “blind” pension is NOT subject to a means test, and so the FULL pension is available.
THE AGED CARE CONSULTANTS AT BALANCE FINANCIAL SOLUTIONS CAN CALCULATE YOUR PENSION ENTITLEMENT FOR YOU WITH CENTRELINK OR DVA.
OUR CONSULTANTS ARE HIGHLY TRAINED AND HAVE A VAST KNOWLEDGE OF THE PENSION RULES AND REGULATIONS. THEY EVEN HAVE SOME KNOWLEDGE OF MANY FOREIGN PENSIONS.
OVERALL OUR CONSULTANTS CAN SHOW YOU HOW THE COSTS OF AGED CARE INTERACT WITH YOUR PENSION AND HOW TO GET THE BEST OUTCOME FOR YOU, WE CAN EVEN HELP YOU APPLY FOR THE PENSION
IF YOU NEED HELP WITH YOUR PENSION ENTITLEMENT WHY NOT CALL US ON (02) 8814-7307