Health of Older People in New Zealand

Residential Care Loan Scheme

People whose assets are over the relevant applicable asset threshold in the Act and who own a home may apply for a residential care loan to pay for their residential care costs.

The formal Residential Care Loan Scheme policy was notified in the New Zealand Gazette on 2 June 2005, to take effect on 1 July 2005. The policy statement outlines the purpose of the loan scheme, the key eligibility criteria, terms and conditions of the loan, and policy relating to repayment, deferment and write-off of a loan.

Update Aug 09: Factsheet - Changes to the Residential Care Loan Policy and Eligibility Criteria (Word, 25 KB)

Notice for Eligibility for Residential Care Loan Scheme (Word, 56 KB)

2005:
Formal Policy Statement for the Residential Care Loan Scheme (Word, 41 KB)
Formal Policy Statement for the Residential Care Loan Scheme (PDF, 30 KB)

See also Questions and answers on the Residential Care Loans and What are the asset thresholds?

For information about applying for a residential care loan, contact Work and Income’s Residential Subsidy Unit, free phone 0800 999 727.

If you have questions about the residential care loan scheme policy contact us.

Page last updated: 21 August 2009