Publications
Protecting Aged Care Residents' Savings
Protecting Aged Care Residents’ Savings – Consultation Paper
On 12 April 2010 the Government announced it would increase protections for aged care residents’ savings held as accommodation bonds. The announcement was made as part of the More Support for Older Australians in the National Health and Hospitals Network.The Consultation Paper initiates the second round of public consultation that the Department of Health and Ageing will be conducting to design and implement enhanced prudential regulation of accommodation bonds.
As part of the consultation process an Issues Paper was released for public comment on 27 October 2010. A total of 33 submissions were received by the Department. The Department has also held a number of meetings with relevant stakeholders. The issues outlined in the submissions and discussed in the consultation meetings have informed the development of the Consultation Paper.
The Department invites comment from interested parties on the proposals outlined in this paper. In addition, the Department welcomes suggestions and views on other issues related to the implementation of the measures.
Submissions received for the Consultation Paper will be made publicly available on the Department's website. If you do not want your submission, or parts of your submission, made publicly available you should clearly indicate this when you make your submission.
Submissions should be made by no later than close of business on 8 March 2011 to:
The Director
Prudential and Approved Provider Standards Section
Prudential and Approved Provider Regulation Branch
Office of Aged Care Quality and Compliance
Department of Health and Ageing
MDP 454
GPO Box 9848
CANBERRA ACT 2601
Email: Prudential
Phone: (02) 6289 9647
For general queries relating to aged care please contact the Aged Care Information Line on 1800 500 853.
