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Means-test limits edge up

The means-testing capital limits for long term care are to increase from next month.

The changes, effective from April 12, mean the lower capital limit for local authority support in care homes in England is to rise from £12,000 to £12,250, with the higher limit rising from £19,500 to £20,000.

NHS weekly contributions towards nursing care costs in nursing homes are to increase, with the higher band increasing from £120 to £125 and the middle band rising from £75 to £77.50 but the lower band stays at £40.

Nursing Home Fees Agency principal Philip Spiers says: “IFAs have got to keep abreast of these new limits. These changes normally happen every April.”


&#39FSA has tightened up&#39

Insurance industry analysts say the FSA has already done much to ensure situations such as the Equitable Life debacle do not happen again such as introducing principles and practices of financial management and probing the appointed actuary role. Independent analyst Ned Cazalet says: “What we did have in the old days was a bunch of […]

We must resist the quick fix and fight our corner

No win-no fee, no fightno win. This is indicative of why the mortgage endowment misselling allegations are spiralling out of all proportion. On the one hand, we see a company jumping on the bandwagon of a no win-no fee approach for complainants. On the other hand, our industry continues to capitulate on a culture of […]

McGinn says only Abbey can drive wrap market

Abbey director of intermediaries Ambrose McGinn has hit out at suggestions that its wrap platform is struggling, claiming that its rivals do not have the experience and res-ources to make their propositions succeed. Dismissing the firm&#39s competitors as “pretenders”, McGinn says only Abbey has pockets deep enough – and the requisite critical mass – to […]

Lifetime allowance must be fair – ABI

The ABI has reminded Chancellor Gordon Brown that any decisions he makes about the proposed £1.4bn pension fund lifetime allowance must be both balanced and fair for present and future savers. Head of pensions and savings Joanne Segars says: “It is essential that the current complex and unwieldy tax regime governing pension funds is simplified […]


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