The Deputy Minister for Health and Social Services Julie Morgan has today confirmed the introduction of a £10,000 increase in the capital limit used by local authorities in Wales who charge for residential care.
This takes the current limit of £40,000 to £50,000.
This allowance in Wales is the most generous across the UK and is double England’s and Northern Ireland’s upper allowance of £23,250. In Scotland the upper limit is £28,000.
To mark the start of the new limit the Deputy Minster visited an independent living scheme developed by the Pobl Group in Newport.
The delivery of the Taking Wales Forward commitment will be delivered two years earlier than planned, enables all care home residents in Wales to keep up to £50,000 of their savings, investments or other capital. The capital limit determines whether a person pays for the full cost of their residential care, or whether they receive financial support towards the cost from their local authority.
Deputy Minister for Health and Social Services, Julie Morgan, said:
“The Welsh Government is committed to supporting older people, and those requiring care, to live the lives they want to lead. I’m delighted to say that we are fulfilling our pledge, two years earlier than we originally planned, to allow people to keep up to £50,000 of their own savings to use as they wish, without having to use this to pay for their care.
“The increase once again leaves Wales in the enviable position as having the highest capital limit in the UK.”