CFS introduces aged care guidance, expanding advice offering

Colonial First State (CFS) has announced it will offer a guidance and advice service to help members and their families navigate Australia’s aged care system with discounted access to Care & Living with Mercer, which provides personalised support to access all levels of aged care.

The guidance and advice service option is available to CFS members at a discounted one-off of $350, giving them access to a personalised aged care planner that enables family members, healthcare professionals and financial advisers to collaborate online to put suitable care arrangements in place.

Furthermore, CFS members and their families can also access resources on retirement living and care quality, as well as a shortlist of pre-screened providers in their preferred area and unlimited aged care support through the service via phone or video call.

Access to additional or emergency-level care concierge support is also available to members for an additional fee. This service can help with implementation and placement with care providers when needs are urgent, as well as help with applying for government support, liaising with service providers and follow-up checks once arrangements are in place.

CFS executive director of retirement Marissa Powe said this offering will help its members make informed decisions when navigating Australia’s notoriously complex aged care system.

“Each year around 250,000 older Australians access residential or home aged care for the first time, with families spending a significant amount of time trying to find the services they need and comparing different options,” Powe said.

“Our goal is to make it less stressful for our members and their families to get the support they need quickly and easily.

“The new service will also make it easier for financial advisers to provide additional support to their clients and navigate the changes to the aged care system which will be introduced later this year.”

This announcement marks the next step in CFS’ advice offerings following the launch of its digital advice services in October, through which CFS FirstChoice members are able to access personalised digital advice in relation to their CFS FirstChoice investment options, contribution strategy and insurance arrangements.

Designed by Otivo specifically for CFS, the offering is available for $88 per annum to be deducted from members’ super account, giving them 12 months of unlimited access, to be renewed on an annual basis to retain the service.