pensionsandsavings.com

  • PENSIONSANDSAVINGS.COM

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

    • pensionsandsavings.com

    pensionsandsavings.com

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    Tag: care costs

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

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

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    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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    Budget ISA moves – ISA savings for care

    Budget ISA moves – ISA savings for care

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    21 March 2014 Nicer ISA savings – what could be NISA! And how about a Care ISA? As the dust starts to settle a little following the sudden Budget improvements to Individual Savings Accounts (ISA) rules, I thought it might be helpful to note down some more thoughts.  Wouldn’t it be great if the new found freedoms could be used to help fund social care. An ISA tax free savings account, designated to pay for care costs, could help with the…

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    A wake-up call to embrace benefits of saving and working longer

    A wake-up call to embrace benefits of saving and working longer

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    17 December 2013 IFS study is a wake-up call to embrace benefits of saving and working longer Headlines of younger generations being much worse off than previous generations are too negative IFS shows younger cohorts were much better off earlier in their lives but spent rather than saved – as economy picks up they can rethink their lives IFS report shows lower incomes for younger generations partly result from failure to save:  Today’s IFS report has led to dire warnings that…

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    15-minute care visits are an affront to decency

    15-minute care visits are an affront to decency

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    7 October 2013 Care staff earn less than £1.50 for each 15-minute care visit  Each visit earns less than a cup of coffee as private care firms and councils cut costs  Such social care cutbacks are an affront to decent standards of care  Social Care crisis is deepening  15-minute care visits are putting patients and careworkers in an impossible position:  The Leonard Cheshire charity report (see link here http://www.lcdisability.org/?lid=8843 ) highlights the degrading impact of 15-minute social care visits on…

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    Who cares – zero hours contracts for careworkers while care crisis worsens

    Who cares – zero hours contracts for careworkers while care crisis worsens

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    Zero hours contracts for private sector careworkers are not conducive to delivering quality care Trying to fund care on the cheap compromises quality Treating care staff decently will require funding reform as care crisis grows As the party conferences shine a spotlight on the problem of zero hours contracts, this seems an opportune time to highlight the working conditions of Britain’s private sector careworkers. Zero hours contracts are standard in this industry.  The staff are also usually expected to fund…

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    Care crisis demands urgent action – savings incentives would help families prepare

    Care crisis demands urgent action – savings incentives would help families prepare

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    Yet another report highlighting the scale of the social care crisis.  The research by NFU Mutual shows that older generations are increasingly facing crippling care costs in later life that they have not prepared for.  Families are finding that their lifetime savings are at risk if they become ill in the wrong way.  Those who have cancer or other illnesses that qualify for NHS treatment will have all their care covered by taxpayers.  Those unlucky enough to develop dementia or…

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    Pensions are not the best way to save for care

    Pensions are not the best way to save for care

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      Pensions are not the best way to save for care –  we all hope to need a pension but only one in four will need care Most wont reach the cap and will pay for all their care – that may be socially necessary but we need to prepare for it Cap won’t cover all the costs and deferred payment plans should be provided for home care too, to avoid expensive equity release As the Government unveils its consultation…

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