LibDems slam Tory pensioner plans

Published on

The Liberal Democrats have raised serious concerns over Conservative plans for an £8,000 payment for residential care.

Figures released by the Liberal Democrats indicate that 3.5 million pensioner households (66%) do not have assets of £8,000 excluding their homes.

The LibDems claim the figures undermine Tory claims that their plans would enable older people to pass their homes on to their children as two thirds of pensioner households would have to sell or release equity from their homes to pay for the private insurance scheme.

The research looked at the level of non-housing assets held by pensioners, both single women, single men and couples, and comes in response to the proposed Conservative Party plans for a £8,000 insurance payment per pensioner in order to fund their social care needs.

The Liberal Democrat research says 63% of pensioner couple households (1.4 million) do not have non-housing assets of £16,000 (the cost of insurance to cover both pensioners).

It also said 71% of single female pensioners (1.6 million) and 64% of single male pensioners (600,000) do not have non-housing assets of £8,000.

The Lib Dems say these figures, “&hellipundermine Conservative claims that their plans would enable older people to pass their homes to their children as two-thirds of pensioner households would have to sell or release equity from their homes to pay for the private insurance scheme.””

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

UTB appoints BDM for the north and Scotland

Fran Arnold has joined the sales team at United Trust Bank Mortgages as business...

International demand for UK property investment ‘more diverse than expected’

The UK property market is attracting investment from a much broader range of international...

Accord Mortgages makes widespread buy-to-let cuts

Accord Mortgages is reducing rates across to its buy-to-let product range by up to...

The Cumberland partners with FareShare to combat Glasgow food poverty

The Cumberland Building Society’s commercial team has partnered with FareShare Glasgow and the West...

Other news

UTB appoints BDM for the north and Scotland

Fran Arnold has joined the sales team at United Trust Bank Mortgages as business...

International demand for UK property investment ‘more diverse than expected’

The UK property market is attracting investment from a much broader range of international...

Accord Mortgages makes widespread buy-to-let cuts

Accord Mortgages is reducing rates across to its buy-to-let product range by up to...