People in Residential Care to Keep Even More of Their Money

People will be able to keep more of their savings when they move into residential care homes in Wales.

The amount will further increase from £30,000 to £40,000 from April 2018 and Wrexham’s Assembly Member, Lesley Griffiths, has welcomed the additional support for Wales’ older generation.

Last year, Welsh Labour pledged to increase the capital limit used by local authorities who charge for residential care from £24,000 to £50,000.

The increase is being delivered in a phased approach, which commenced from April 2017 when the limit in relation to residential care was increased to £30,000.

Lesley Griffiths AM said: “Welsh Labour is fulfilling an election promise by more than doubling the capital people can keep when in residential care.”

“These measures offer older people greater support and financial flexibility.”

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.

There are up to 4,000 care home residents who pay for the full cost of their care.  Increasing the capital limit to £50,000 has the potential to benefit a significant number of these residents, depending upon the value of capital they hold.