Departmental Instruction

Because the value of an accommodation bond decreases during the five year draw down period, pensioners who have paid such a bond and are assets tested need to have their assets reviewed on a six monthly basis.

Regular review may also be required for people who pay their entry contribution as periodic payments since their other assets may deplete over time.

A six-monthly review should be established for these people upon notification that they have paid a bond to enter an aged care facility.