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Picture Book · SMSF, family and later life

Paying for aged care

Story pages

An elderly woman with white hair holding her daughter's hand in a bright garden
Meet Margaret. She's 86 and moving into an aged care home.
A friendly assessor chatting with an elderly woman over tea in a living room
First, My Aged Care assesses the care she needs.
A tidy stack of folders tied with ribbon on a wooden table
Then Services Australia assesses her income and assets to work out fees.
Two paths leading to the same door of a pleasant care home
Her room can be paid as a lump sum (RAD), daily payments (DAP), or a mix.
A key being returned into an open palm
A RAD is generally refunded when she leaves, less agreed deductions.
A middle-aged daughter and elderly mother sitting together on a garden bench
Her family gets advice early, so decisions aren't rushed.

The end

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General advice warning. This picture book is general information only. It does not take into account your objectives, financial situation or needs, and it is not personal advice. Rules and thresholds change. Before acting, consider whether it is right for you, read any relevant Product Disclosure Statement and our Financial Services Guide, and seek personal advice. Past performance is not a reliable indicator of future performance.

Information as at 29 October 2026. Sources:

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Keep exploring: More smsf, family and later life stories · All picture books · Age Pension what-if planner · Cost-of-living help for homeowners