New NDIS Account to Lock in Funding
The Federal Government has announced it will guarantee the final funding source for the National Disability Insurance Scheme by setting up a special “future fund” to hold Commonwealth contributions.
Social Services Minister Christian Porter introduced a Bill to Parliament to establish the NDIS Savings Fund Special Account. The Fund will collect underspends and savings that the Minister said would help meet the Commonwealth’s contribution to the scheme from 2019-20.
“We will set up the fund and then set aside specific, identified and protected savings,” Porter said.
“At full scheme in 2019-20, the NDIS will transform the lives of around 460,000 Australians who are living with disability. Today’s announcement will give them the final certainty they deserve.
Source: Pro Bono Australia