The Government wants to upgrade the My Number identification system, which is used for social security and taxation purposes, so it can more easily obtain information on people’s financial assets, such as savings and securities as it looks for ways to make those with large savings contribute more to their care even if their incomes are low.

Already older people must prove their individual financial assets total ¥10 million (AU$123,751) or less and must not exceed income limits to get financial support for meals and living at aged care homes.

Older people also have access to preferential treatment, such as reduced out-of-pocket expenses for hospital visits, no matter how much they have in financial assets if their income is below certain levels.

The Government is now expected to set a new deadline for the plan later this year.