THE Welsh Assembly Government have announced that people entering residential care in Wales will be allowed to keep an extra £10,000 of their money from 2018.

The Welsh Assembly Government made the announcement today, Wednesday (Dec 6) that there would be  a new £40,000 threshold for assets before local authorities charge residents the full cost of their residential care.

It is estimated that there are around 4,000  care home residents in Wales who pay the total cost of their care.

The capital limit determines whether someone is entitled to financial support from the local authority.

Currently those with assets of £30,000 including the value of their home if it is unoccupied have to pay in full. From next April that limit will rise to £40,000 and the Welsh Assembly aims to raise the threshold to £50,000 by 2021

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