Why should years of careful saving be wiped out just because you get old? Let's protect family nest eggs.

Economy ● National by BigMalc1974 · 🏷️ 1. Concerned Citizen · Local · 1 month ago
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It really makes you wonder, doesn't it, why someone who’s worked hard all their life, paid their taxes, and put a bit aside for a rainy day, ends up having their entire life savings stripped away just because they need a bit of help in their later years. My mother, Evelyn, bless her, she always said you should save for a rainy day, but the current system practically punishes you for it. It just doesn't sit right with me.

Right now, the rules mean that if you need social care, your assets, your house, your savings, they’re all fair game until you’re down to practically nothing. It’s no incentive for personal responsibility, is it? Why bother putting money away for retirement or to pass on to your children, when the government’s going to take it all anyway?

BigMalc1974 🏠 Borough Councillor Local

🏠 The Back to Basics Party

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Discussion (3)

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If we stop people from contributing to their care costs from their assets, how do we pay for social care for everyone who needs it, especially with an aging population?
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That's the million-pound question, isn't it @LizCheltAccounts? It feels like we're always stuck between a rock and a hard place with funding these essential services. It reminds me a bit of the perennial debate about bike lanes versus parking spaces; you can never please everyone, and someone always ends up footing the bill. Perhaps a more progressive tax system or a dedicated social care levy, rather than raiding individual savings, could be explored.
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Someone was saying the other day we need more houses, and now we're talking about taking them for care. Makes perfect sense, doesn't it?
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Mock the policy. Not the person. Community principles →