Correct. The bane of all moutachians who bother to save/invest for their own retirement.
My parents are in this position as self-funded retirees (Mum retired recently at 55). They don't qualify for a health care card or any pension (despite my disabled father). And there's so much that goes along with that. Although they have significant assets ($3M?), they're still very stressed about paying for their aged care. Meanwhile, if they hadn't saved & were on the pension, they wouldn't have to worry about paying for medicine, in-home care, etc.