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RAD (Refundable Accommodation Deposit) is a lump-sum payment for aged care homes. It is fully refundable when the resident leaves, as long as there are no outstanding fees.
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Help for self funded retirees

Posted
by DPS

Self funded retirees experiencing superannuation and share market losses are being urged to contact Centrelink to see if they are eligible for financial assistance for the first time.

“I would say to any self funded retiree who is concerned about their circumstances, particularly about the impact of the assets test, that they contact Centrelink and get a reassessment if they feel that they may be entitled to some part of the pension that they haven’t been entitled to before,’’ Community Services Minister, Jenny Macklin, said.

To find out if you are eligible, contact Centrelink’s Retirement Services on 13 23 00.

For those seeking private financial advice, the National Information Centre on Retirement Investments (NICRI) is a government funded consumer service that provides free financial information and strategies.

NICRI officers can talk to you about investment products, superannuation, redundancy issues, reverse mortgages, the financial planning process and more.

Phone NICRI on 1800 020 110 or to download free publications go to:

http://moneymap.nicri.org.au

 

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