View more on these topics

CPD: Protection

The latest edition of Newsbrief counts as 1 hour of structured CPD and covers the regulatory and marketplace changes that took place during June 2014. Visit the Money Marketing CPD Centre to answer 10 multiple choice questions and complete this CPD activity. Just click into your CPD Plan and you’ll find each month’s marketplace changes round-up in your activity list.

July CPD Newsbrief — Protection

Protection

Care Act aims for sustainability and quality

David Smith

The 2014 Care Act, which was given Royal Assent in May, brings a number of far-reaching changes to the provision of social care. The key points are:

  • A personalised budget for individuals, with access to a tailored care plan to suit their needs.
  • Some individuals will have the benefit of being covered under the Human Rights Act.
  • Independent financial advice on care funding options is to be made available to everyone.
  • Decisions made by local authorities on eligibility and funding for care can now be appealed.
  • From 2016, a lifetime cap will apply to care costs. This is the maximum that people will have to pay towards the costs of their care, irrespective of how much they have in savings and assets.
  • Local authorities will now be obliged to offer assessments to all carers.
  • People will no longer need to sell their homes to pay for care, following the introduction of a deferred payment scheme.
  • More robust powers to be given to regulators, with the ability to prosecute providers who are seen to be failing.
  • A minimum eligibility threshold to apply to all local authorities throughout the country, replacing the existing system where local authorities set their own criteria, and often led to regional variations. Local authorities will not be able to raise this threshold, which should give comfort to many.
  • Local authorities will need to consider individuals’ mental, physical and emotional wellbeing, and include preventative services to maintain their health, when deciding on the level of support required.

Part 1 of the Care Act is now subject to consultation on how local authorities should support and implement the new reforms, with a further consultation covering Part 2 scheduled to begin in autumn this year.

services.parliament.uk/bills/2013-14/care/documents.html

www.gov.uk/government/speeches/care-bill-becomes-care-act-2014

July Newsbrief

The latest edition of Newsbrief counts as 1 hour of structured CPD and covers the regulatory and marketplace changes that took place during June 2014. Visit the Money Marketing CPD Centre to answer 10 multiple choice questions and complete this CPD activity.

Just click into your CPD Plan and you’ll find each month’s marketplace changes round-up in your activity list.

Not yet registered? Join for free today at www.ifacpd.com and access more than 35 hours of independent, accredited CPD learning content. 

Learning objectives (full list of ApEx standards covered below)

Recommended

1

Chris Gilchrist: The terror of pensions

Advisers probably complain regularly to their clients about unnecessary legislation. And our initial response to the Budget’s simplification of pensions was a mighty cheer. But the more you think about it, the more worried we ought to be about life in the new landscape after 2015. The problem is while the rules are simple, people’s […]

Jamieson-Cathy 2014 700x450.jpg
2

Labour eyes higher regulatory fines for repeat offenders

Shadow Treasury financial secretary Cathy Jamieson says Labour is open to the idea of increasing regulatory fines, particularly for repeat offences. Speaking to Money Marketing, Jamieson says it is hard for consumers to grasp why fines in the UK can be smaller than the profits that came from the misconduct. She says: “The public sometimes […]

DWP-Department-Work-Pensions-700x450.jpg

Pensions Policy Institute: Self-employed at risk under auto-enrolment

Self-employed workers are at risk of falling short in retirement unless more is done to encourage pension uptake, the Pensions Policy Institute warns. Under auto-enrolment, self-employed individuals are not compelled to take out a workplace pension policy, while the majority of the rest of the population will be automatically entered into a scheme. A PPI […]

Percent-house

Brokers warn FCA off restricting SVR changes

Brokers have warned the FCA not to restrict the ability of lenders to change standard variable rates despite controversy over several firms doing so in the past few years. Last week, the regulator published a discussion paper, called Fairness of Changes to Mortgage Contracts, asking consumers for feedback on their experience of changes to the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com