Saturday, December 3, 2022

AM welcomes increased savings safeguard for older people

Lee Waters AM

LLANELLI’S Assembly Member, Lee Waters, has welcomed this week’s Welsh Government announcement that’ll see people in residential homes able to keep an extra £10,000 of their savings when they move into care.

The announcement was delivered by Huw Irranca-Davies AM, Minister for Children and Social Care, who confirmed that the capital limit – which is used to decide whether a person pays the full cost of their residential care themselves, or receives financial support from their local authority – will rise from £30,000 to £40,000 from Monday 9th April.

This contrasts with England where people with capital and savings above £23,250 have to fund all of their own social care. Only those with less than £14,250 pay nothing.

Welsh Labour has pledged to raise the limit to £50,000 by the 2021 election.

Mr. Waters said: “It’s great to be delivering on our election pledge to change the way people pay for care and support.”

“Having to move out of your own home and into residential care is a stressful and worrying time, without the added burden of wondering how you will pay for care yourself or for a loved one.  People are quite rightly anxious about having to sell their homes or wonder if they will have any money to leave their family.”

“This announcement demonstrates a positive commitment to supporting older people.”

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