Unlocking the Puzzle: OzPlan's Guide to Navigating Aged Care Finances

From 1st of January this year the aged care interest rate, known as the Maximum Permissible Interest Rate or MPIR, increased to 8.38%. The new rate only applies to new residents and some existing residents who choose to move rooms or to another home.

The higher interest rate will mean that Daily Accommodation Payments (DAPs) for people paying the market price for their accommodation will increase, while lump sum accommodation contributions (Refundable Accommodation Contribution or RAC) for low means residents will be lower.

Please feel free to contact OzPlan for further information or you would like a review of the cost of residential aged care for yourself or a loved one.

OzPlan is here for you through every stage of life.

• Over 15 years as specialists in aged care financial planning
• In 2023 our team assisted over 200 families with aged care financial planning
• In-person and remote consultations available

We understand the financial considerations that come with aged care planning. Our experienced team of aged care specialists can help you to navigate your way through the aged care maze. We can identify the cost of care and how this can be funded, while looking at the impact on pension entitlements and other benefits. We can also help you with Services Australia paperwork if needed.

Find out more about OzPlan

• This presentation is provided by OzPlan Financial Services Pty Ltd, ABN 35 005 391 202 (AFSL 221235) and is for general information only.
• Opinions expressed are our present opinions only and are subject to change. In preparing this presentation, we have obtained information from sources we believe to be reliable, but do not offer any guarantees as to its accuracy or completeness.
• The information does not take into account the objectives, financial situation or needs of any person. Before making an investment decision, a person should consider, with the assistance of their financial adviser, whether it is appropriate in light of their particular objectives, financial situation and needs.
• It does not contain and is not to be taken as containing any securities advice or securities recommendation. Furthermore, it is not intended that it be relied on by recipients for the purpose of making investment decisions. Subject to law, none of the companies of OzPlan Financial Services Pty Ltd, nor their respective directors or employees, accepts any responsibility or owes any duty of care to any person acting, or refraining from acting, as a result of material in this presentation.
• The information contained in the presentation is general in nature and in preparing this presentation, OzPlan Financial Services Pty Ltd has not taken into account the investment objectives, financial situation and particular needs of any particular person. Before making an investment decision, a prospective investor should consider, with the assistance of a financial and tax adviser, whether an investment is appropriate in light of their particular investment needs, objectives and financial circumstances.
• Some of these slides have been used with permission from Aged Care Steps.