READER LETTER OF THE WEEK

I am renting a flat and am happy enough, but now that I’m 79, I worry if I can afford to go into a home. Will my pension pay for it? As I haven’t a house to sell, I have just enough in the bank for any emergency that may come up. I hope you can help, it keeps me awake at night. Jan, Wainuiomata

Dear Jan,

This is concerning for you I am sure, but rest assured and get some sleep tonight Jan. Call the New Zealand Aged Care Association on (04) 473 3159. I did, and they were super-friendly and helpful, and they have a great website too. It’s findaresthome.co.nz. Although you’re not looking for a care facility right now, it will reassure you about the process (specific to the region you are living in), and will let you know what places are available and, most importantly, the cost of all these things. They told me the best place to calculate the current costs is the Work and Income website, workandincome.govt.nz. From there, I discovered that the short answer is, if your assets (cash and savings, possessions and property) as a single person are under the level of $227,125, you are eligible for the Residential Care Subsidy. This means the government will pay for your care, while also taking most of your superannuation as your contribution. As I understand it, you’ll be left with $44.53 each week from super after they have paid for your care. While that sounds meagre, the cost of care on a weekly basis is expensive but you can be assured they cover the cost, be it rest home, hospital or dementia care level. It’s a daunting thought, but good on you for tackling it. Forewarned is forearmed as they say.