Residential care savings limit in Wales to rise to £40,000

People moving into residential care will be able to keep an extra £10,000 of their savings and assets from 2018.

Social Care Minister Huw Irranca-Davies has confirmed the sum - which was raised from £24,000 to £30,000 this year- will go up to £40,000 in April.

Welsh Labour has pledged to raise the limit to £50,000 by the 2021 election.

The minister said more than 400 people had benefitted from the first increase, with about 4,000 currently paying the full cost of residential care.

The capital limit determines whether a person pays for the full cost of their residential care, or whether they receive financial support towards the cost from their local authority.

Mr Irranca-Davies said: "The Welsh Government is committed to supporting older people, and those requiring care, to live the lives they want to lead.

"We promised to more than double the capital people can keep when in residential care - freeing up more of people's money for them to use as they wish.

"We are now well on our way to delivering that pledge to the people of Wales.

In England, people with capital and savings above £23,250 have to fund all of their own social care. Only those with less than £14,250 will pay nothing.