NDIS Plan ‘funding periods’ are here: What you need to know.
A major change to the way NDIS Plans are funded has arrived. From 19 May, all new and reassessments NDIS Plans will include funding periods. This means the funds in your NDIS Plan will no longer be released all at once. Instead, plan funds will be made available in smaller amounts at set times throughout the plan period. Here’s what we know so far. What are funding periods? Funding periods are a new way the NDIS releases plan budgets over time. Instead of receiving your full plan funding upfront, you’ll get access to smaller amounts in stages. A funding period is a set timeframe during which a portion of your NDIS funding can be used Most new plans will have three-month funding periods You can only spend money released in the current or previous funding period Different funding periods may be introduced in future Funding periods will initially apply to new or reassessed plans. How do funding periods work? Your NDIS Plan now includes a total funding amount. This is the full amount of funding allocated for all your supports over the life of your plan. Each portion of funds is released at the start of a funding period When
