FREQUENTLY ASKED QUESTIONS
How long can I receive the contributions?
Pensium makes a personalized proposal adjusted to each case. The initial contract can be up to 5 years to pay for Elderly home caregiver care, and if during these 5 years or at the end, the property becomes vacant (transfer to a Nursing home), the contributions can be maintained for 2 more years.
What if after 5 years my father/mother wants to stay at home?
A new study is carried out to evaluate renewal of the program. If it is not possible, the contributions would end, but they guarantee that your mother/father can stay at home until their passing. Pensium will never claim the property for renting or the amount of the contributions while your parent remains at home.
What happens if I am granted aid and I no longer need the money provided?
You can reduce or end the contributions whenever you consider it appropriate. The debt accumulated up to that moment can be repaid through rentals when the property becomes vacant (due to admission to Nursing home or death), or it can be settled at any time without additional cost (only paying the amount of debt accumulated up to that moment).
How is the rental price determined?
It is always at market price. A valuation is carried out by real estate specialists to obtain the optimal rental amount.
What if the apartment is not rented because it is in poor condition?
This service already includes an amount for adapting the property for rental (painting and any necessary repairs to put the property on the market at an optimal price).
What if I decide not to rent the property?
The PENSIUM program is designed so that contributions and program costs are repaid with rental income, but if when the property becomes vacant the family does not want to rent it, they can repay the accumulated debt at that moment (through sale, payment by a family member who wants to use the property…).
If I want to cancel the financing, what do I have to do?
You can cancel it at any time, you only need to repay the debt accumulated up to that moment.
When the money has been repaid, can I sell or use the property?
If there is a rental contract in force, tenants have the right to keep it until its expiration. If you want to end the rental contract early, it must be communicated and agreed with the tenants, or you can choose to sell the rented property.
Can this financing affect the benefits I apply for (PEVS)?
No, the contributions are financing in the form of advance rental payments, so it does not affect the calculation of economic capacity considered for the allocation of financial aid.
Does the financing have tax implications?
During the period of contributions at home it has no tax impact. When Pensium starts managing and collecting rent to amortize the debt, the net rental income is included in the income tax return of the property owners while the rent is being collected.
Remember that we can help you process the application for the dependency level
Paying for an Elderly home caregiver can be very easy
We finance an Elderly home caregiver for you
- Without making any payment or outlay
- With full flexibility
- With guaranteed periodic contributions
