Found: We normally talk about care homes, older people, relatives or unpaid care and care services provided

Found: We normally talk about care homes, older people, relatives or unpaid care and care services provided

Found: across the continuum of care Πprimary care, urgent care services, hospital care, rehabilitation, and in care

Found: provided at Retirement Communities, in addition to those still requiring the higher-level care offered at care

Question to the HM Treasury:

To ask Her Majesty's Government whether they will introduce savings incentives to help people pay for elderly care.

Answered by Lord Agnew of Oulton

The government is committed to both supporting individuals at all stages of life to save and delivering world-leading health and social care across the whole of the UK.

The government already provides extensive support to individuals to save for retirement and later life. Individuals are currently able to save up to £20,000 each year across the four types of Individual Savings Accounts (ISAs), which offer a range of mechanisms to save or invest tax-free. This includes the Lifetime ISA which allows savers to benefit from a 25% government bonus on up to £4,000 of savings each year and supports saving towards later life. These savings, including the government bonus, can be withdrawn from the age of 60 and may be used to pay for care.

And more broadly, for the majority of savers, pension contributions made from income during working life is tax-free. Investment growth of assets in a pension scheme is also not subject to tax and, from age 55 (or when scheme rules allow a pension to be taken), up to 25 per cent of the pension can be taken tax-free, depending on scheme rules.

Found: Ms Regan added that the intention is also to address the impact of fireworks “near care homes, older