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it is apparently much worse if you need to be taken into sheltered housing or care
If you have worked hard all your life and saved for retirement, and due to ill health you have to go into sheltered housing or a care home, your house is sold, all the proceeds and all your savings are taken by the authorities, and your pension income goes to them, and the money is paid to use for your care until there is £16K left when the state then takes care of you.
meantime, someone who has been on benefit all their life will get the same treatment at no cost
does not seem fair to me, think I would rather drop dead and then something would be left for the family for the efforts of my working life
maybe also I should not be putting so much away for retirement and spending it now and living life to the max?
because I've been footing the bill for it all of my life?
I may have lived a life where I have been fortunate to have never been a burden on society, and contributed to society all my life, then have everything I have worked for taken away. All my life I will have been paying towards the state and if I need it it will only be there after it has taken everything I own, if I were to die without needing care, I would have an inheritance tax allowance then only pay tax on 40% of the rest - assuming I have enough of an estate to do this!
I just think it is a bit penal that because you may have the ill fortune to need care later in life, all of your savings and property can be taken away, I think you deserve to be left with more than £16K
I can also see how that this acts as a deterrent for people entering care and struggling on at home
Well, you can't take it with you. Sorry, I'm with oresome. Presumably your children have also worked rather than sitting around waiting expectantly for you to shuffle off and your hard-earned to transfer itself to their bank accounts?
I'm not against inherited wealth in principle, but I don't see why you shouldn't pay for your old age. You've paid for the rest of your life. Why should the state pick up the tab if you can? There's a lot of grumbling on this board about people who scrounge off the state: why is your old age any different?
My Father looked after Mam for 5 years until he was 91. We finally persuaded him to let Mam go into care, however she was only there for 2 weeks before she died. She enjoyed the 2 weeks and was looked after well.
Dad has been in the same Council House for years, and had no real savings. He was told to expect to pay something. His income is a small Company,State and War pension.
He also footed the Bill all his life but was willing to surrender some of his small income for his Wifes comfort.
I am sitting on the Fence with this one, I would feel grieved if the Government took my savings but comforted that good care was my compensation. I do not expect old age to be free.
I also wonder where did the figure £16000 come from? It must be based on some statistic. If it was £50K life wouldn't seem so harsh and there is more in the pot to enjoy the odd excursion/treat if able to do so.
As for the kids, I have done my bit to earn a fairly decent,comfortable retirement in a few years time. I will be down sizing,cruising and holidaying. I may borrow money against the house to enjoy life to the full with my Wife, who has certainly been a rock and deserves the best. If the Bank takes the whole house when I am gone it won't worry me. My children can have the insurance, which should pay some of their mortgage. If they want a really good inheritance they can invest in me, £30 pm may get them 6 figures if they insure me! Of course, I aim to make them wait a long time for it!
Oh my goodness such harsh comments Ive never heard! Certainly old people should have to pay for care when they need it but its hard enough for a family to deal with a ailing relative without the government taking all they have (this includes selling the house, even if another family member is living in it!), I know this from an experience close to our family. I think if or when people have to deal with the situation they mite think differently.
Nobody likes to pay tax, be it Inheritance Tax, P.A.Y.E. or whatever.
But like death taxation is inevitable and pay it we must. Many on this
forum will complain about how they have paid tax all their lives and
never had anything back from the system. But they choose to forget about
things like the N.H.S. roads, defence, and all the other things that
the state provides for us. As for leaving our estate to our family
or to be taken by local authorities to help pay for our care in old age,
you should feel lucky that you have anything left over at the end of your
life to leave to anyone. There are many who will end their liver with
nothing to leave to anyone through no fault of their own. You don`t
pay taxes unless you have the money to be taxed on in the first place.
Yes, it can be very hard for people to look after elderly members of their families, which is why I want to see the biggest proportion of the limited resources as possible going towards supporting people who are carers rather than those resources being spent on people who could actually pay for themselves.
Again il say that they should pay for their care but taking everything is a little extreme? There is alot of money going to people who dont diserve it, while the worthwhile cases seem to be fleaced.
<QUOTE>"I am sitting on the Fence with this one, I would feel grieved if the Government took my savings but comforted that good care was my compensation. I do not expect old age to be free.
I also wonder where did the figure £16000 come from? It must be based on some statistic. If it was £50K life wouldn't seem so harsh and there is more in the pot to enjoy the odd excursion/treat if able to do so."</QUOTE>
My feelings precisely.
One thing's for sure: the system provides no incentive whatever to 'put a little something aside for your old age.' This year, for the first time, I didn't add to the (very) modest savings in my cash ISA — I bought surprise presents for my family instead.
See some financial experts and ringfence your money. Not all the approved schemes have been trashed by the Revenue (yet). Either that sell your house, go to Eastern Europe and become a citizen of one of the EU member states and then come back as an asylum seeker and the government will give you a house, probably one of those sold out from under an ailing pensioner, if you were really lucky you might get your old house back.
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