http://www.caringchoices.org.uk/index.php/green-paper-on-funding-older-people%e2%80%99s-social-care-opens-the-door-for-a-shift-to-a-%e2%80%98co-payment%e2%80%99-system Caring Choices is a nationwide initiative to help shape future policy on long-term care for older people. Mon, 28 Apr 2008 17:38:53 +0100 hourly 1 http://www.caringchoices.org.uk/index.php/green-paper-on-funding-older-people%e2%80%99s-social-care-opens-the-door-for-a-shift-to-a-%e2%80%98co-payment%e2%80%99-system/comment-page-1#comment-373 David Blackburn Mon, 07 Jan 2008 17:51:22 +0000 http://www.caringchoices.org.uk/?p=73#comment-373 As a pensioner, who has held 5 powers of attorney,I believe the authorities are missing a trick, by taking pensioners total capital over time to pay for RCH/Private nursing home fees. What the government should do is issue a capital bond, tax free,at a fair rate of interest, undex linked, in these situations repayable on death to the estate. Only the income generated would be taken towards the fees. That would make avoidance schemes largely unprofitable, and give the government a second bite of the chery, in many cases as the lump sum passes down the line, often from pensioner tp pensioner. It would also provide the government with a reasonably cheap form of borrowing within this country,instead of from the foreign currency markets. It would also allow thrifty hard working pensioners some dignity in retaining their savings to will to beneficiaries of their choice. This way everybody gains. As a pensioner, who has held 5 powers of attorney,I believe the authorities are missing a trick, by taking pensioners total capital over time to pay for RCH/Private nursing home fees.
What the government should do is issue a capital bond, tax free,at a fair rate of interest, undex linked, in these situations repayable on death to the estate. Only the income generated would be taken towards the fees.
That would make avoidance schemes largely unprofitable, and give the government a second bite of the chery, in many cases as the lump sum passes down the line, often from pensioner tp pensioner.
It would also provide the government with a reasonably cheap form of borrowing within this country,instead of from the foreign currency markets.
It would also allow thrifty hard working pensioners some dignity in retaining their savings to will to beneficiaries of their choice.
This way everybody gains.

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