The long-awaited report of the government-appointed aged care taskforce has recommended wealthier Australians be expected to tap into their superannuation balances to pay for more, in a bid to keep the system sustainably funded.
While the government is urged to remain the “major funder” of aged care, the expert panel said older Australians are now retiring with “greater wealth than previous generations”, and that those with the means should be expected to foot more of their own bills. The government is still mulling its formal response to the report, but has flatly ruled out new taxes or levies to pay for the system into the future.
