Spring budget 2009: small gesture for pensioners

Article date: 22.04.09

PRESS BRIEFING NOTE : 22 April 2009

The Wealth Care Partnership, award winning care fees specialists based in Fordingbridge, have accused the government of not giving a fair deal for pensioners.  Tim Anstee, Partner, says: “There is very little in the Budget for pensioners and once again, older people have been marginalised.”

Mr Anstee continues: “This is the same Government that instigated the Royal Commission and promised our elderly citizens a fairer deal.  Nominal measures such as raising the savings threshold from £6,000 to £10,000 for Pension Credit and a small increase in state pension are pretty poor measures that do not support this promise.

“Even where the Government could have helped by kick-starting the housing market, only a token extension gesture was made regarding nil stamp duty on properties under £175,000.”
“We may well see more interest in Equity Release as older people, who may have had high hopes for today’s Budget, realise that they are pretty much on their own and may now look into Equity Release as a way to boost funds.  We believe that increased interest in Equity Release generally is in part due to people wanting to stay in their own homes and purchase bespoke live-in-care packages.  Few people realise that staying in their own home is a realistic alternative to moving into a care home.  

Mr Anstee concludes “We are somewhat disappointed that, despite rumours to the contrary, no mention whatsoever was made of the forthcoming Green Paper on Adult Social Care.  By its very nature this paper can only be a further platform for a prolonged discussion on care, but it would have gone some way to demonstrating that the Government at least understands the concerns of our most elderly, poorly and vulnerable citizens.”   

Families looking for information on how to fund long term care for elderly relatives should call their free Helpline on: 0800 652 8232. The Free Guide is also available on this telephone number. 

ENDS
 
Notes to Editors

The Wealth Care Partnership (TWCP) was formed in 2007 by Karen Rayner and Tim Anstee, based in Fordingbridge, Hampshire.  They have a combined financial planning background spanning nearly 38 years and are two of the UK’s leading and fully qualified care fees planning experts.  The Partnership is the local members of Symponia and advise the elderly and their families throughout the region. TWCP is the local Symponia member – a national organization set up to provide information to the elderly.  Members are able to join by invitation only and must pass a test of technical competence.  All members are subject to a Criminal Records Bureau (CRB) check. 

TWCP is directly regulated by the Financial Services Authority.

Karen Rayner was awarded “Best Long Term Care Intermediary 2008” at the Health Insurance Awards in October 2008 and The Wealth Care Partnership won the New Forest Business of the Year Award and the HSBC sponsored category Best New Business Award in December 2008.


For further information, please contact:

Tim Anstee
The Wealth Care Partnership LLP
7 Glasshouse Studios
Fryern Court Road
Fordingbridge
Hants
SP6 1QX
0845 3723404