Disposable Income Allowance. The weekly amount of income the Council can leave the person with as provided in the Regulations related to deferred payments made under the Care Xxx 0000 and anything above this may be taken into account by the Council in determining charges.
Disposable Income Allowance. At the time of entering into this Agreement the Disposable Income Allowance as set by the Care and Support (Deferred Payment) Regulations 2014 is a maximum amount of £144.00 per week. You may retain any value up to this maximum rate. You have opted to retain an amount of 0.00 per week.
Disposable Income Allowance. You have a right to keep a proportion of your income. The ‘Disposable Income Allowance’ is a fixed amount of up to £144 a week of your income, which you can keep to pay for ongoing house insurance, property maintenance costs and to cover your weekly spending needs. If you prefer, you may choose to keep less of your income than the maximum £144 a week so that you can contribute more to the cost of your care from your income. This would mean that you could reduce the amount of your deferred payment and, as a result, reduce the amount of the interest you have to pay. During your financial assessment we will ask you how much of your weekly income (up to a maximum of £144) you want to keep. You cannot use the Disposable Income Allowance to: l top up the overall cost of the weekly care home fee; or l pay for services which the care home should normally include as part of its care package to residents. Your savings and investments must remain below the £23,250 limit in order for the deferred payment agreement to continue. If your savings and investments increase above this level you can take either or both of the following actions to reduce the amount. l Pay a lump sum off your deferred payment agreement account l Increase your weekly contribution towards your care from your income by asking for a reduced Disposable Income Allowance What will I need to do to enter into a deferred payment agreement? You will need to do the following. l Make sure your home is registered with the Land Registry. If it isn’t, you must arrange and pay for it to be registered. l If another person or a company has an interest in your home, you will need to get their written permission before you can enter into a deferred payment agreement. l Have a responsible person who is able to make sure that any necessary maintenance is carried out on your home (you will continue to pay for maintenance from your Disposable Income Allowance). l Continue to insure your home at your own expense and give us evidence that there is appropriate insurance in place. l Pay your own contributions to your care costs on time. If your home cannot be insured for any reason, you will not be able to enter into a deferred payment agreement. Charges for deferred payment agreements We will charge fees to arrange and manage a deferred payment agreement. The fees are simply to cover our costs and not to make a profit. They will meet the costs of legal fees, property valuation, Land Registry fees and administrative costs.
Disposable Income Allowance. Under the Deferred Payment Scheme you are permitted to retain up to £144.00 of your income per week (where your weekly income equals or exceeds this amount). Please note that this amount is inclusive of the statutory personal allowance rate set by the department of health of £24.90 per week. You may decide that you do not require the full £144.00 per week and would prefer to set your own weekly allowance. (Not exceeding £144.00) Please choose one of the following options: 🞎 I would like to retain £144.00 allowance per week 🞎 I would like to retain the governments’ standard weekly allowance 🞎 I would like to retain another weekly amount (Please specify amount) £……………………………………………………………………………….. Please be advised that the more of the disposable income allowance that you choose to retain will increase the amount you defer per week. RENTAL INCOME (If applicable) Under the Deferred Payment Scheme you are permitted to retain up to 20% of any weekly rental income generated. Please choose one of the following options: 🞎 I would like to retain 20% of the weekly rental income 🞎 I would like to retain 0% of the weekly rental income 🞎 I would like to retain the % below (Please state the percentage you would like to keep – not exceeding 20%) ……………%
