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    From Ros Altmann:economist and pensions,
    investment and retirement policy expert

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    Category: Social Care

    Care ISAs and incentives for care saving

    Care ISAs and incentives for care saving

    2 February 2015 Government considering savings incentives for social care Possible ways to incentivise care saving schemes:  1. Care ISA   2. Tax free pension withdrawal   3. Care saving in auto-enrolment Could help millions of middle income families not just the well-off Government must tackle lack of care funding: Are Ministers finally waking up to the need to help people save to pay for social care? I do hope so. It seems they may be considering savings incentives, to help…

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    Social care crisis – urgent action needed

    Social care crisis – urgent action needed

    20 January 2015 Action to address care crisis cannot wait any longer Elderly people are suffering due to council and care company cost-cutting All parts of the system are failing and Government has not yet offered solutions Tax incentives to help families save for care costs are needed as £72,000 cap is too high for affordable insurance Care ISAs, Family Care Plans and Workplace Savings free of Inheritance Tax Use auto-enrolment and new free Guidance to kick-start care savings There…

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    We need tax breaks for care saving, not more means-testing

    We need tax breaks for care saving, not more means-testing

    4 September 2014 More means-testing and tax increases will disincentivise private income and could worsen looming care crisis We need incentives to encourage people to save for care – Care ISAs and tax-free pension withdrawals, plus inheritance tax exemption for care savings Health and social care budgets must be integrated to provide fairer system Radical reform of social care is required: I welcome the report released today by the King’s Fund, which highlights yet again the flaws in our system…

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    Use pension reforms to help social care crisis

    Use pension reforms to help social care crisis

    23 June 2014 Budget pension reforms could help kick-start saving for social care New tax breaks will help savers build up care savings funds – could be with pensions or ISAs  My Budget consultation response highlights urgency of addressing social care funding crisis In my response to the Chancellor’s 2014 Budget on pension reforms, I have included a section explaining how the pension freedoms could be used to help kick-start a culture of care saving.  This probably needs to be incentivised…

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